Finding a Need and Feeding It: Bard Ventures Ltd. (TSX-V:CBS)

By: Glenn Wilkins - AllPennyStocks.com News Reporter

Tuesday, November 11, 2008 5:41 PM
Excitement is always prevalent when a substance is discovered in abundance, somewhere in the bowels of the earth. When that substance is somewhat scarce, but also useful in our daily lives, the excitement is all that much more obvious. Such is the atmosphere in which Vancouver-based Bard Ventures does its work. Bard Ventures Ltd. (TSX-Venture:CBS) is a small cap mineral resources company with acquisitions in its home province of British Columbia, primarily focusing on the Lone Pine Molybdenum Project and the Wasi Creek Zinc Lead Silver Project, both of them located in the northern part of the province.

The Lone Pine Property consists of seven mineral claims covering 1051 hectares, approximately 15 kilometers north-northwest of Houston, B.C.; situated in the Omineca Mining Division. The Property area extends over several molybdenum showings.

While early explorers were attracted to the region by rich desposits of silver and some gold, the Property has long been thought to be an ideal setting for porphyry-style molybdenum/copper mineralization.

Molbydenum has the sixth-highest melting point of any element, and for this reason it is often used in high-strength steel alloys. Some of its byproducts are used in medical procedures, others as additives to motor oil, still others as lubricants, lastly, in analyzers in power plants for pollution controls. The substance has a value of approximately $65,000 per tonne as of early last year.

Western demand for molybdenum is projected to increase by around three per cent annually, while China and the countries of the former Soviet Bloc, demand is projected to increase by around 10 per cent annually, increasing overall global demand by around 4.5 per cent annually. Increasing demand can be attributed to two main factors: the increasing need for hydroprocessing catalysts for producing crude oil, and increased construction of nuclear reactor construction. Needs such as this are the impetus for the urgency CBS feels to increase production of molybdenum.

Bard management received results in September from one of the drilling projects on the Lone Pine property. President Eugene Beukman boasted that the results compared favourably to bigger players such as Thompson Creek Metals, General Moly and Roca Mines, explaining that the holes on the property were much more mineralized that the others mentioned.

“These results,” Beukman said in a release, “will also help build a strong investor confidence despite the current volatile market.” The results showed the hole known as showing at least 0.10 per cent Molybdenum over a space covering more than 730 metres, some sections as rich as 0.31 per cent.

More recently, CBS got back similar results from two drilled holes elsewhere on Lone Pine and found mineralization for molybdenum as high as 0.12%, and extends the known boundaries of the high-grade portion of the strike by about 100 metres to the northwest of these two holes. Bard is earning a 100-per-cent interest in the Lone Pine property under the terms of an option agreement.

In June, Bard reported that its exploration program on the Wasi Creek Project was soon to begin, following up on the discovery of numerous large angular high-grade massive sulphide boulders by previous operators. The reckoning is that the area may be the source of high-grade boulders, some of which returned assays of 26.30 per cent zinc, 25.98 per cent lead, and 96.3 gpt silver.

Beukman, also a director and CEO for the company, made his reputation in the legal field, having previously been legal advisor to the predecessor of BHP Billiton. He brings more than 20 years experience to the acquisition of assets and joint ventures. Fellow director John B. Malysa is a mining engineer with extensive experience in the mining and exploration environment. He has more than 30 years of progressive mining experience in all aspects of both surface and underground mine exploration, design, feasibility, construction, operations and managements.

The stock is in the low end of a very narrow range in price, its 52-week high scraping the 24.5-cent mark around this time last year, before tumbling to a low of 3.5 cents in the last week of October. Trading on November 11th was pegged at $0.055 per share, obviously very affordable, but needing other factors to attract buyers. With word of its newest findings and successful attempts at partnering with other mining companies seeking the same end, perhaps those factors are making their presence felt.

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Although the majority of AllPennyStocks.com reports are independent, it has received compensation for carrying the report on Bard Ventures Ltd., the compensation is eleven thousand dollars in February 2008 and nine thousand five hundred dollars in June 2008 by the company for its efforts in presenting the CBS profile on its web site and distributing it to its database of subscribers as well as other services. This creates an inherent conflict of interest and readers are encouraged to view the main disclaimer at
http://www.allpennystocks.com/aps_ca/company_spotlights/archives/cbs.asp.