Capstone Mining Corp. (CS: TSX)

This one might be a good one to watch in the morning...

The net result of the successful 2010 infill drill program was significantly improved continuity of the mineralization in the high grade Esso deposit, resulting in all of the mineralization being moved into the indicated mineral resource category, including mineralization previously classified in the inferred category

http://newswire.ca/en/releases/archive/December2010/06/c2895.html

So, inferred minerals have been reclassified to indicated minerals. I bet this will cause a short term bump-up in value...

$4.36 right now. I will check it again tomorrow at lunch.

I am only excited because the last time I bought into a news release like this, it payed off nicely.



A little bit of technical jargon:

INFERRED RESOURCE
That part of a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity. The estimate is based on limited information and sampling gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes.


INDICATED RESOURCE
That part of a mineral resource for which quantity grade or quality, densities, shape and physical characteristics, can be estimated with a level of confidence sufficient to allow the appropriate application of technical and economic parameters, to support mine planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough for geological and grade continuity to be reasonably assumed.

Well $4.49, gain of 3%, not as good as i expected

6% gain if sold at days high......hmmm, i'll keep my speculation to myself next time