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Fortune Valley Resources


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Well I bought shares in my first PURE explorer today. This is somewhat of a change in methodology for me because I consider myself a value investor. This has been a great year, however, so I figured I might try a little gambling.


Why did I do this? Here are my reasons:


1. Fortune Valley (FVX on the venture exchange) is a brand new company; they just IPO'd in July. For those of you who listened to Paul Van Eaden being interviewed by Frizzers, this is the best time to invest in an explorer (according to Van Eaden). Get in early while the market cap is very low.


2. They have acquired a nice property in Chile. There is definitely gold there (it has been mined historically), the only question is how much?


3. They have very experienced management. Most of their executives and directors are from Placer Dome which got bought out a while back. One of the Directors is CEO of Compañia de Minas Buenaventura.


4. They start drilling this month.


5. Fully diluted market cap is about $14MM. They have about 4MM warrants outstanding but the strike price is about 60% higher than current market price.


6. I think they're still unknown (although they just hired an IR person). Volume is non-existent. I bought the only shares traded today.


Obviously this is not a reco since I consider it gambling myself.




Here is the website: Fortune Valley Resources


Here is the management/directors:



Michael J. Gingles

President and Chief Executive Officer, Director



Co-Founder of Fortune Valley. Previoulsy, Mr. Gingles was Vice President Corporate Development of Placer Dome Americas, from October 2001 though September 2006, and worked for various affiliates of Placer Dome after joining in 1995. During his tenure at Placer Dome, Mr. Gingles was a leading participant in the successful division that restarted Getchell, acquired the Pueblo Viejo project and developed Zaldivar into a world-class copper mine. Mr. Gingles has 21 years experience in exploration, business development, corporate development and finance in the mining industry and has worked in Australia, United Kingdom, Chile and the United States.




William C. (Bill) Howald

VP Exploration and Corporate Development, Director



Co-Founder of Fortune Valley. Previously, Mr. Howald was General Manager Exploration for the United States and Latin America for Placer Dome Inc. and worked for various affiliates of Placer Dome after joining in 1990. During his tenure at Placer Dome, Mr. Howald was an integral part of the teams that delivered over 80 M ozs of gold resources to the Placer portfolio. A number of these resources are now being mined such as Pipeline, Turquoise Ridge and Bald Mountain Mines in Nevada. Several are just coming out of the feasibility stage such as Pueblo Viejo in the Dominican Republic, Puren in Chile, and Cortez Hills in Nevada. Mr. Howald has 22 years in the international gold exploration and mining industry, gained primarily in Nevada, Mexico, Central and South America. Mr. Howald is also CEO & President of Rye Patch Gold Corp.




Mark T. Brown

Chief Financial Officer



Mr. Brown, a chartered accountant, is the President of Pacific Opportunity Capital Ltd., a company that advises and invests in emerging companies. He was formerly employed by PricewaterhouseCoopers, Miramar Mining Corporation and Eldorado Gold Corporation, and is a director or officer of several mineral resource companies. His broad experience includes raising equity and debt capital, negotiating acquisitions and dispositions, establishing and cooperating rapid growth companies and managing tax planning.




Max A. Oemick

General Manager, Chile, Director



Co-Founder of Fortune Valley. Since 2002, Mr. Oemick has been the General Manager of Andean Dragon Trading, a trading company involved in the mining industry. He has also been since 2003, the representative in South America for Argor Heraeus, a major international gold refinery. Mr. Oemick has acquired an extensive network trading in gold in Latin America over the past 12 years and provides Fortune Valley with an important link to the mining community in Chile.




Roque Benavides




Mr. Benavides has been the President & CEO of Compañia de Minas Buenaventura S.A.A., Peru's largest publicly traded precious metals mining company since 2001. The Company is engaged in the mining, processing, development and exploration of gold, silver and other metals via wholly-owned mines, as well as through its participation in joint exploration projects. Mr. Benavides is a Civil Engineer and is also the Vice-Chairman of the World Gold Council.




Joseph L. Danni




Mr. Danni has served as Senior Vice President Corporate Relations for Placer Dome Inc. in Vancouver, BC, from 1993 to July, 2005. He also served as Vice President Corporate Relations for Glamis Gold Inc. a Nevada, USA, company until it completely merged with Goldcorp Inc. in January, 2007. He has a wealth of experience in different areas of the mining industry, with specialist knowledge in corporate relations, public and government affairs, and human resources. Mr. Danni holds a BA in History from the Western State College in Colorado, USA. He has been a member of the Mining & Metallurgical Society of America since 1994.




Joe Kajszo




Co-Founder of Fortune Valley. A geologist by training, Mr. Kajszo served as President and Director of Nevada Pacific Gold Inc. from 1997 to 2004. Prior to that Mr. Kajszo served as Vice President - Exploration for Robert Friedland's Ivanhoe Capital Corp. Ivanhoe's umbrella included a number of public companies such as Venezuela Goldfields (KM 88 in Venezuela), First Dynasty Gold (Fort Knox Mine in Alaska), Diamond Field Resources (Voisey's Bay massive sulfide deposit in Labrador), and African Minerals Corp. (Platreef PGM-Cobalt deposit in South Africa). Mr. Kajszo has 26 years of experience in the mining and mineral exploration industry worldwide including direct involvement in projects in Africa, China and North and South America. Mr. Kajszo is also Chairman of Rye Patch Gold Corp.




Bernard Poznanski

Corporate Secretary



Mr. Poznanski has been a partner of Koffman Kalef LLP, Business Lawyers, since its inception in April 1993. Mr. Poznanski has acted as counsel for a wide variety of companies listed on the TSX, the former Canadian Venture Exchange (now the TSX Venture Exchange), the American Stock Exchange and NASDAQ. His practice areas are focused on advising mining and technology companies in connection with corporate finance and corporate/commercial matters and international projects.

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  • 3 months later...

Hmmm...they drilled for gold and found copper? Doesn't seem like a particularly good intercept for porphyry, but I think they were targeting epithermal veins.


Full article: http://biz.yahoo.com/ccn/080215/200802150442520001.html?.v=1


Fortune Valley Drills Porphyry Copper at Incahuasi Central Target

Friday February 15, 5:33 pm ET



VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 15, 2008) - Fortune Valley Resources Inc. ("Fortune Valley Resources" or the "Company") (TSX VENURE:FVX) announces the results of its 2007 drilling campaign on the Incahuasi project located in Region 3 in northern Chile. The Company completed 36 reverse-circulation drillholes totaling 5,113 metres within the roughly 11,000 hectare property position. Results have been received from the first 24 drillholes, which were completed in the 420 hectare Incahuasi Central target area, and which focused on high-grade gold and copper veins. Table 1 summarizes drill results, using a 0.2% copper cutoff grade for drill intervals greater than 3 metres.




Michael Gingles, President and CEO stated, "Although the initial drill targets at Incahuasi Central were geared toward finding the strike and dip extents of the various gold veins in the district, these drill intercepts with copper offer an opportunity to the company that needs to be followed up and understood. The potential for significant copper mineralization is intriguing and presents additional possibilities for the project which could include a significant copper find. We are now negotiating with local drilling companies to initiate a phase-2 drill program that will address the porphyry copper potential and perform additional drilling in the extensive Incahuasi Este vein system starting early in the second quarter of the year."


Drillhole RC-IC-005 cut 30 metres grading 0.808% copper and 0.408 g/t gold from porphyry-style alteration contained within a northwest oriented structural corridor. Additional outcrops of altered porphyries have been mapped within this northwest zone. This mineralized drill interval and geologic mapping suggest the zone is open to the northwest and southeast.

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