Research Reports

Beacon Rock Research, LLC

We are a one-of-a-kind independent investment research firm named after the largest monolith in the western hemisphere and immortalized by Lewis and Clark’s Corps of Discovery. We are devoted to the qualities associated with it: Steadfastness, adventure, and community.

Beacon Rock Research is committed to producing work that will withstand the torrential flows of contrary and fickle opinions and beliefs that all too often are incorrect. Likewise, cramped conventional wisdom often spoils natural curiosity and optimism, the attributes fundamental to learning, understanding and making the intuitive connections that help us perceive what might be around the next bend. The combination of these seemingly contradictory elements of steadfastness and adventure produce an environment of community. The investment philosophy of this community is not focused so much on specific industries as being client-centered.

Our research and website are designed to emulate these qualities, by focusing on the sole reason of research which is to educate investors. We utilize a Mediasite recorder whenever possible to help companies explain their opportunities first-hand without the filter of analysts, brokers, and the investment media. We produce research opinions in common and accessible language to reach a wider audience and impart actionable insight in a more profound way. When you visit Beacon Rock Research our goal is to help you attain an uncommonly better understanding of opportunities and risks, enhancing the possibility of timely and informed investment decisions.

Stock quotes

SymbolLastChange
ADA.TO
0.05
0.00
AXU
4.40
0.30
AGT
0.31
0.00
EET.TO
0.46
0.00
XRA
7.02
0.27
GBK.V
0.34
0.00
ML.TO
2.13
0.00
MFN
9.19
0.08
NFR.V
0.30
0.00
NG
7.43
0.12
PZG
1.35
0.01
SFEG.OB
0.92
0.07
SA
29.36
-0.18
SOFO
10.65
-0.07
SAC.TO
0.48
0.00

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Planet Resource Recovery, Inc. (Pinksheets: PRRY) was founded with the goal of developing eco-friendly technologies for the re-covery and remediation of the planet’s...

Minefinders Corporation Ltd. (NYSE AMEX: MFN, TSX: MFL) commenced commercial production at its Dolores gold-silver mine near Chihuahua, Mexico in May of 2009. At that time, the...

The development of Alexco’s mine and mill at Bellekeno is on schedule for completion for commissioning and start-up of the mill in the third quarter of 2010. The issuance...

International PBX Ventures, Ltd. (TSX Venture: PBX) was our best “new idea” from the recent investment conference in Vancouver, BC. Our last “new idea”...

The corporate combination of Apollo Gold Corporation (NYSE Amex: AGT, TSX: APG) and Linear Gold Corp. (TSX: LRR) appears to be a good fundamental match of strengths and needs...

Sonic Foundry, Inc.’s (NasdaqCM: SOFO) reported one of its best starts for the first quarter of its fiscal year, typically one of
its two weakest quarters. This...

Sonic Foundry, Inc.’s (NasdaqCM: SOFO) reported one of its best starts for the first quarter of its fiscal year, typically one of
its two weakest quarters. This...

Northern Freegold Resources Ltd has enjoyed exploration success at its highly prospective district-size Freegold Mountain
gold project in the Yukon Territory. Only 2% of...

Alexco Resource Corp. (AMEX: AXU, TSX: AXR) appears to have completed all the goals it set for itself for 2009. This includes completing necessary staging requirements on...

ATAC Resources Ltd (TSX VENTURE: ATC) has received the final assays on its enormously successful 2009 drill program at the Tiger Zone at its Rau Gold Project in the Yukon...

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...

Goldbrook Ventures Inc. (TSX VENTURE: GBK) is successfully expanding its assets in the world-class polymetallic Raglan Nickel District in the Cape Smith belt of northern Quebec...

We recently visited Santa Fe Gold Corp.’s Summit Silver-Gold Mine located in southwestern New Mexico near Duncan, Arizona and its processing facility in Lordsburg, New Mexico....

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...

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...

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...

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...

South American Silver (TSX: SAC) is advancing the largest silver-indium resource in the current metal cycle. The Malku Khota project resource covers only 3.5 km of a 15 km...

Etruscan Resources Inc. (TSX: EET) was among our half dozen 2009 Precious Metals Picks for resource developers published on January 1, 2009. At that time, Etruscan had exceeded...

Seabridge Gold, Inc. (AMEX: SA) has received a pit study with two long-term scenarios. In December of 2008, Seabridge received an initial Preliminary Assessment (PA) with an...

South American Silver Corp. (TSX: SAC) received its first NI 43-101 compliant Preliminary Economic Assessment (PEA) study on its 100% owned silver-indium Malku Khota project in...

Seabridge Gold Inc. is rapidly advancing the KSM gold-copper project in British Columbia, one of the world’s largest undeveloped gold-copper projects, scheduled to complete a...

Exeter is advancing two significant projects in South America, the high-grade gold Cerro Moro and the world-class Caspiche. We have previously visited Exeter’s Don Sixto...



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...

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...

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...

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...

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...

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...



Paramount is moving forward to form an alliance to jointly develop adjoining properties east of Palmarejo in the Sierra Madre which may lead to eventual merger of...

Alexco announced plans to complete approximately 23,000 meters of exploration at its wholly owned Keno Hill silver district in the Yukon. Alexco anticipates receiving a Scoping...

Paramount continues to enjoy exploration success at its San Miguel project near Chihuahua, Mexico. Expansion of ‘Clavo 99” provides similar characteristics to the nearby...

Minefinders Corporation’s (AMEX: MFN) Dolores mine near Chihuahua, Mexico is rapidly approaching production. Management recently announced an update that increased the reserve...

Sonic Foundry, Inc. (Nasdaq: SOFO) announced on January 24, 2008 its expectations for revenues of $2.5 million and a loss of $3.5 million for 1Q08, citing slowing market...

Alexco Resource Corp. (AMEX: AXU, TSX: AXR) is a junior exploration resource company with world-class assets and a unique business model that is not yet fully appreciated....

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,...

NovaGold and Teck have selected a new management team to advance Galore Creek. Teck has committed an additional $140 million to complete its earn in to 50%.We believe that...

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...

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...

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,...

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...

Having provided research coverage on Sonic Foundry since March 15, 2005, when the price was $1.36 per share, we find their progress in creating a revolutionary product while...

Acadian Mining Corporation (TSX: ADA) has restarted production of zinc-lead at its Scotia Mine in Nova Scotia, Canada. The restart should provide cash flow for repurchase of...

Mercator Minerals Ltd. (TSX: ML) is rapidly approaching completion of its initial phase of expansion at its Mineral Park Mine in northwest Arizona.Phases I and II were designed...

Beacon Rock Research is initiating research coverage on Minefinders Corporation. Minefinders is scheduled to complete is first gold pour in early 2008 at its gold/silver...

Etruscan Resources Ltd. is scheduled to complete a Feasibility Study on its Agbaou project in Côte d’Ivoire in April of 2008, anticipating production in 2009. The combination...

We recently visited NovaGold’s Rock Creek Project in Nome, Alaska. While the anticipated production of 100,000 to 125,000 is dwarfed by the Company’s Galore Creek Projects,...

Etruscan Resources Inc. (TSX: EET) reports that construction at its Youga project in Burkina Faso is again accelerating now that the summer rains are receding. Progress is...

We recently visited NovaGold’s Rock Creek Project in Nome, Alaska. While the anticipated production of 100,000 to 125,000 is dwarfed by the Company’s Galore Creek Projects,...

Etruscan Resources Inc. through Etruscan Diamonds has acquired the remaining 50% interest in the Tirisano Diamond Mine in South Africa. The acquisition of Tirisano increases...

Sonic Foundry, Inc. (NasdaqNM: SOFO) is a technology leader providing solutions for the growing rich media (audio, video, and graphics) communications marketplace. The Company...

We recently visited the Etruscan Resources Inc. (TSX: EET) corporate office in Bedford, Nova Scotia. Despite recent weakness in the price of the company’s stock price we remain...

We recently visited Mercator Minerals Ltd.’s (TSX: ML) Mineral Park Mine, a copper and high grade molybdenum (moly) project in northwest Arizona, located about 95 miles...

Etruscan Resources Inc. (TSX: EET) provided a construction update for its Youga project in Burkina Faso. Commissioning of the mine is scheduled for June of 2007. With its price...

We attended the first of two Minefinders Corporation Ltd.’s (AMEX: MFN, TSX: MFL) “analyst day” visits to the Dolores Project in Chihuahua, Mexico. Construction of the project...

Etruscan Resources Inc. (TSX: EET) is spinning off its South African diamond interests into Etruscan Diamonds Limited.They will hold a 62% interest in the new entity, scheduled...

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