SSN - Holds a lot of valuable acreage in the Niobrara, has a...

SSN - Holds a lot of valuable acreage in the Niobrara, has a royalty agreement with Chesapeake Energy, should be in a positive operating cash position by Q1 2011 and has around $65m in the bank from last update. Managent know the oil business inside out and are overall pretty reliable.

MEU - Promising Uranium play, JORC resource due early Q1 2011. Has around 9m cash with a MC of less than $20m.

ALK - Seems undervalued in comparison to the other rare earth companies in the race to become producers. If it can get to production by 2012 as management anticiapte it looks great value at the moment. Its tantalum resource could be the jewel in the crown if the supply problems continue with the USA banning all tantalum imports from the Congo.

PEN - Good management, excellent reserves, has the financing arrangements in place to become a producer. Operates in a Uranium friendly part of the USA.

ETE - Entek Energy, very low market cap. Is sitting on prime oil property in the US. A bit of a punt but if they can get a farm in agreement with a larger player there is big upside here.