Currie Rose Resources (CUI, TSX-V)

Currie Rose was down a further 2 pennies for the week at 16.5 cents but the stock has clearly stabilized after a steep decline the week before…the stock is at its lowest RSI(14) level since 2005 which strongly suggests CUI is at or very near an important bottom…fundamentally, while its Sisu River Gold Property did not deliver great results from a first-pass program, Currie Rose has an overall very attractive land package in northwest Tanzania which is why we view the current weakness as such an attractive opportunity for patient investors…Sisu River will get another look in the spring (initial results were encouraging enough to warrant a follow-up drill program) but it’s only a very small part of the company’s large Mabale Hills Project where numerous new targets are expected to be identified through satellite imagery and geophysics over the coming weeks…the project we like the most, however, is Sekenke which is approximately 200 kilometres southeast of Mabale Hills…we’ve stated repeatedly that Sekenke has huge potential as it surrounds and runs in between two former producing high grade mines…early exploration results from this nearly 300 square kilometre property were outstanding…extensive geophysical work will precede the upcoming 5,000 metre Phase 1 spring drill program at Sekenke…Currie Rose has $2 million in the bank…President and CEO Harold Smith says the company will not do a financing at these lower prices and won’t consider one until later in the year after more drilling…concerns about the company accelerating the warrant expiry date from last summer’s financing are unfounded in our view…a major drill program is underway at Currie Rose’s Scadding Gold Property near Sudbury, Ontario…Trueclaim Exploration (TRM, TSX-V) is absorbing the entire cost of that program as part of its commitment in order to earn a 51% interest in the property…Scadding is a former producer and Trueclaim has been delivering some very good results from that property…