Gold-Ore Hires Merger Expert

Late last week, Gold-Ore Resources Ltd. announced the hiring of Ron Ewing as Vice President of Corporate Affairs.

I see this hire as a signal that Gold-Ore is open to being acquired by a larger company or being merged into another emerging jr. gold mining producer in order to bring attention to its 1 to 2 million ounces of gold reserves. Production has begun at the Bjorkdal mine in Sweden with projection of 36,000 ounces of gold in 2008, and 60,000 ounces in 2009.

Ewing has been a director at Gold-Ore since 1996. Mr. Ewing knows the mining industry and knows Gold-Ore very well. The press release says he was hired to better communicate with investors.

Moreover, Mr. Ewing helped build EuroZinc Mining into a mid-tier base metal producer and helped prepare it for a merger with Lundin Mining in 2006.

Gold-Ore is—by my calculation—the most undervalued of the four leading junior gold miners in production (Metanor, Gold-Ore, Jaguar, and Minefinders).

This is good news for Gold-Ore shareholders.

The Gold-Ore story has yet to get out and will take some time to build investor interest. The Metanor story is beginning to get out and that is why I have a larger share of holdings in Metanor.

Over the past couple of weeks, I have lightened up on my Jaguar Mining shares and loaded up on my Gold-Ore shares based on valuation. Jaguar Mining shares have declined recently, but remain a solid value. Here is the current weighting in my portfolio for the four leading junior gold mining emerging producers.

Metanor Resources.....30%
Gold-Ore Resources....12%
Jaguar Mining..............6%
Minefinders Corp..........2%