Sonic Foundry, Inc.

Sonic Foundry, Inc.’s (NasdaqCM: SOFO) reported a positive earnings surprise in one of its two weakest quarters. This was due to booking a large international sale and successful execution
of its cost containment program which commenced in the second half of 2008. View Report

Star Scientific May Soon Get its Day in Court

While it may take a generation for the real value of this advancement for national health to be calculated, a partial but cumulative monetary assessment might be determined in the upcoming jury trial in which Star Scientific, Inc. (Nasdaq: STSI) has alleged infringement of its patents by RJ Reynolds Tobacco Company, or Reynolds American (NYSE: RAI). View Report

Northern Freegold Set to Expand High-Grade Gold Nucleus Zone

Northern Freegold Resources Ltd. (TSX Venture: NFR) was identified in March as one of the most interesting gold exploration companies at the 2009 PDAC mining conference in Toronto, Canada. The excitement followed a run of high grade results in 2008/2009 news releases and the stock jumped on an announcement on February 12, 2009 View Report

Apollo Gold Corporation

Apollo Gold Corporation is developing the Black Fox gold project near Timmins, Ontario. The Black Fox gold project is scheduled to produce 130,000 to 150,000 ounces of gold per year over 8.75 years commencing April of 2009. They have acquired an existing 1,100 tpd mill which is being upgraded to 2,000 tpd. The Black Fox deposit has an estimated reserve of 1.33 million ounces of gold. View Report

Alexco Neutralizes Dangerous Acid Pit Lake at Superfund Site

We recently visited the former Barite Hill gold mine, now a Superfund site three miles south of McCormick, South Carolina (about 40 miles north of Augusta,Georgia). Alexco Resource U.S. Corp., a wholly owned subsidiary of Alexco Resource Corp.(AMEX: AXU, TSX: AXR) completed an emergency pit lake treatment View Report

Seabridge Gold Inc. Introductory Report

Seabridge Gold Inc. (NYSE: SA, TSX: SEA) is accelerating development of one of the largest gold (and copper) deposits in the world. The Kerr-Sulphurets-Mitchell gold-copper resource, or the KSM project, is likely to increase in size as the identified deposit remains open to expansion within the conceptual pit and beyond. View Report

Welcome to Beacon Rock Research



Beacon Rock Research is an independent research firm providing information and opinion on mining and metals companies for institutional investors. Our approach is client centered focusing on providing a high degree of individualized service to clients while publishing research reports for public dissemination.

Beacon Rock Research is affiliated with SLB Equity Research and Simulated Live Broadcast which provides institutional road trips, corporate advisory, and other web based investor awareness products and services.





Minefinders' Dolores Mine Ready for Production

We recently met with Minefinders Corporation Ltd.’s (AMEX: MFN) management at the Denver Gold Forum and discussed their Dolores project which is expected to move into production in October of 2008.See full report.

Mercator's Mineral Park Mine to Begin Production

We attended Mercator Minerals Ltd.’s (TSX: ML) annual meeting in June. The meeting was conducted at its wholly owned Mineral Park Mine located near Kingman, in northwest Arizona. Management reports...See full report.

Etruscan Increases Resource Sizeof Alluvial Diamond Deposits

Etruscan Resources Inc. (TSX: EET) reported that Etruscan Diamonds has received an updated NI 43-101 compliant resource estimate on its Blue Gum Diamond Project in South Africa (EET owns 52% of Etruscan Diamonds).See full report.

Two Large Silver Plays at the Silver Summit

We attended the recent Silver Summit Investor Conference in Coeur d’Alene, Idaho. We looked forward to taking the pulse of silver enthusiasts following the spring-summer long retreat in the metal’s price..See full report.

Emerging Producers Benefiting from Record Metal Prices

We believe that the stocks of these companies have the greatest potential to appreciate relative to their peers. In addition, they should have the greatest financial flexibility for furthering exploration, advancing projects or making acquisitions.See full report

Etruscan Resources Special Report

We believe that the market does not fully recognize Etruscan Resources Ltd's (TSX: EET) position as a major exploration company, the current fundamental value of its achievements or its growing portfolio of opportunities.See full report.

Special Video Report Tour of Minefinders’ Dolores Mine

We visited Minefinders Corporation’s (AMEX: MFN) Dolores mine in Chihuahua, Mexico. It was an exciting opportunity and a privilege to visit such a significant project at a time when the very first ore was being placed on the leach pad (picture on left).See full report.

Special Report Etruscan Resources Major Explorer with Junior Production

We believe that the market does not fully recognize Etruscan Resources Ltd's (TSX: EET) position as a major exploration company, the current fundamental value of its achievements or its growing portfolio of opportunities.See full report.

Etruscan reports additional drill results

Etruscan Resources Inc. (TSX: EET) reported results from 22 drill holes at the 1.7 km Tabakoroni Zone on its Finkalo Permit in Mali South. Resolute Mining Limited holds 60% of the joint venture and is the operator at Finkalo.See full report.

Alexco Introductory Report

Alexco Resource Corp. is an environmental services/junior exploration company nearing production at its wholly owned Keno Hill silver district. Alexco is also receiving revenue for cleanup of the district and has unfettered access to develop the district indemnified from all prior environmental liability. See full report.

Paramount Gold and Silver Corp. Introductory Report

Paramount Gold and Silver Corp. (AMEX, TSX: PZG) is an aggressive exploration company operating in the prolific and historic Sierra Madre silver-gold belt near Chihuahua, Mexico. The Company has established a 35.8 million silver equivalent resource and is currently about half way through a 50,000 meter drill program. See full report.

Sonic Foundry Leadership in Long Distance Education

We consider Sonic Foundry Inc.’s (NasdaqNM: SOFO) suite of Mediasite Internet recording products to be the most effective manner to communicate “serious” content on the Internet. Our opinion is based on our personal experience using the product in both education and in corporate communications. The product excels when the source of serious content has an earnest and important message to share with an audience equally anxious to fully understand and make good use of the message. See full report.

NovaGold Regrouping at Galore

NovaGold Resources Inc. (AMEX: NG) and Teck Cominco Ltd. (NYSE: TCK) placed the Galore Creek project in British Columbia on hold until construction costs are brought into balance with conservative long-term copper metal price assumptions. NovaGold’s share price closed down about 50% on the announcement. See full report.

Analyst Day at Paramount’s San Miguel Project

We recently toured the projects of several companies in the southeast corner of the State of Chihuahua, Mexico. One of our favorites was Paramount Gold and Silver Corp. (AMEX,TSX: PZG). This was due to the combination of management, project(s) potential, and the fact that Paramount’s aggressive exploration activities are relatively unknown. See full report.

NovaGold Reports Exceptional Drill Results at Donlin Creek

NovaGold Resources Inc. (AMEX: NG) reported drill results at Donlin Creek that we believe could be some of the most exceptionaldrill results of any mining company in 2007. The release represents the results of 156,000 meters of drilling completed over nearly two full years.See full report.

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