NEW YORK, Oct. 6, 2003 (PRIMEZONE) -- The following is an investment opinion issued by Investrend Research Syndicate:
eResearch Mining Analyst Avrom Howard has initiated coverage on Freewest Resources Canada Inc. (TSX Venture Exchange:FWR) (Other OTC: FWERF) with a "Speculative Buy" rating.
In the report, which is free on eResearch's website http://www.eresearch.ca/juniormining/, or by clicking on "Junior Mining" at http://www.eresearch.ca, and at Investrend Research at http://www.investrendresearch.com, Mr. Howard noted that "Freewest Resources Canada Inc. is a junior mining exploration company featuring a combination of grassroots through advanced exploration projects with a focus on gold, in Quebec, New Brunswick and Ontario."
The analyst went on to note that: "Freewest's most important project is the Clarence Stream gold property, an advanced exploration gold project located in New Brunswick. It has yet to undergo a formal resource estimate, but informally appears to host a current mineral resource on the order of two hundred thousand ounces in the 4-6 gram per tonne range, distributed among two zones, with gold in drill intercepts found in three other zones that remain to be fully assessed, as well. The property appears to have considerable scope in terms of upgrading and expanding this resource."
The stock was rated by the analyst as a "Speculative Buy" with a $CAN 0.27 target price.
Freewest Resources Canada Inc. has paid eResearch a fee of $CAN 3,745 to conduct research on FWR. eResearch (Independent Equity Research Corp.) is an independent equity research firm focused on under-covered, under-followed North American equities. It has based its business model on that of the bond rating agencies. It does not trade in the securities of the companies it covers or accept any stock related compensation for its research services. It conducts no investment banking, consulting or investor relations services for the companies it covers. eResearch's sole business is equity research. eResearch derives its revenue solely from the companies it covers and its subscribers.
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