| | Tue Jan 9, 2007
CSCRF Raises Record $12.1 million in 2006
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| | Total of $22.1 million raised in three years
(Vancouver - January 8, 2007) A leading Canadian issuer of flow-through Limited Partnerships in the junior resource sector closed out a record year in 2006 as it completed two LP offerings for a total of $12.1 million dollars.
In July the Canadian Small Cap Resource Funds' No. 1 Limited Partnership raised $7.6 million and followed up with a No. 2 LP that raised $4.5 million and closed in early December. These two offerings, combined with funds raised in 2004 and 2005, put the CSCRF group at a total of $22.1 million raised in the past three years.
The CSCRF group, along with Portfolio Advisor Shane Meyers of Bolder Investment Partners, invests in early stage mining and oil & gas exploration companies that traditionally have market caps ranging from $3 million to $25 million. This is well below the traditional $50 to $250 million and higher market caps that are the focus of larger flow-through fund managers.
"We like being in this sector of the market," said CEO Stephen Wilkinson, a geologist by training and former mining analyst with RBC Dominion Securities who also is CEO of ValGold Resources.
"There are fewer fund managers investing in this sector, because it takes more work and you have to really get to know the management of the companies you're investing in quite well. As a result, there are greater inefficiencies in pricing and market valuations in this sector, and thus the opportunity for better returns."
Wilkinson also points out that with relatively smaller amounts of money under management, the CSCRF portfolios usually are able to limit their holdings to 25 or so excellent companies. He pointed out that the fund manager actually gave back $2.00 per unit in the form of an early distribution of units to the 2005 LP holders.
"We just thought the markets were over-heated last May and decided to send back to our unit-holders some of the money we had taken off the table," explained Bolder's Shane Meyers.
"Very few fund managers would do this. We are concerned with absolute performance of our funds, not in charging fees on large amounts of money under management. This approach is making us well known and very popular among our supporting Investment Advisors across the country, which is why we had 15 different dealers involved in our most recent offering."
The CSCRF Funds are traditionally invested to a 70% in the mining sector with up to 30% in oil & gas. The mining sector is spread out over companies exploring in base and precious metals as well as "rare earth" elements such as molybdenum, vanadium and palladium.
Following are the top-ten (by percentage of total portfolio) holdings in the 2005 and both 2006 CSCRF limited partnerships:
TOP 10 POSITIONS BY PORTFOLIO WEIGHT
(At December 31, 2006)
CSCRF 2005 LP 58.60%
Company Symbol Weight
Columbia Yukon Explorations CYU 10.4%
Tagish Lake Gold Corp TLG 9.2%
Western Keltic Mines WKM 8.1%
San Gold Corp SGR 7.2%
Cusac Gold Mines CQC 6.1%
Bard Ventures CBS 4.5%
Tri-Gold Resources TAL 4.7%
North Western Mineral Ventures NWT 3.6%
Berkley Resources BKS 2.7%
West Timmins Mining WTM 2.1%
CSCRF 2006 No.1 LP 56.2%
Company Symbol Weight
Flying A Petroleum FAB 9.5%
Tyhee Development Corp TDC 7.6%
Berkley Resources BKS 6.8%
Purepoint Uranium Group PTU 5.4%
International Bethlehem IBC 5.3%
Avalon Ventures AVL 5.3%
Sable Resources SAE 4.4%
Eagle Plains Resources EPL 4.1%
Moneta Porcupine Mines ME 4.0%
Cusac Gold Mines CQC 3.8%
CSCRF 2006 No.2 LP 60.3%
Company Symbol Weight
Consolidated Big Valley CBG 10.9%
Moneta Porcupine Mines ME 6.1%
Tyhee Development Corp TDC 5.6%
Avalon Ventures AVL 5.5%
Goldeye Exploration GGY 5.4%
Consolidated Venturex Holdings CVA 5.3%
Berkley Resources BKS 8.4%
Sable Resources SAE 4.5%
International KRL Resource Corp IRK 4.5%
Independent Nickel INI 4.1%
Contact: Rick Peterson (604) 684-2883 or rick@rickpeterson.ca
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| | You can view the Next CSCRF Corporate News item: Wed Mar 21, 2007, Winding Up Of Canadian Small Cap Resource Fund 2005 No. 1 Limited Partnership ("Cscrf 2005 Lp") & Cash Pay-Out Of Units
You can view the Previous CSCRF Corporate News item: Wed Dec 13, 2006, Canadian Small Cap Resource Fund 2006 No. 2 Limited Partnership ("the Partnership") Final Closing of Partnership Offering -- $4.5 Million Raised For Flow-Through Investments
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