risk or opportunity in eritrea

I was interested in a comment on Peter Grandich's blog at Grandich.com. Grandich was recommending Sunridge Gold whose flagship project is the Asmara Project in Eritrea. Grandich, who is highly regarded in the junior resource industry in North America, had a headline titled If I Had to Buy Just One.

"I mentioned in an interview [March 10, 2011] that if I had to buy just one junior resource stock it would be Sunridge Gold," said Grandich.

What has this to do with Chalice? It would appear that Australian investors have abandoned North Africa due to the civil strife in Libya, Egypt and Tunisia. Apparently, Grandich does not subscribe to the local political assessment. Rather than selling gold explorers with exposure in North Africa he is recommending buying one of the promising North American junior explorers whose focus is Eritrea. Although Grandich recognises the geopolitical risk in Eritrea he takes a somewhat more balanced and objective view, weighing risk and opportunity.

If I had to buy just one junior resource stock, Chalice Gold would be in my top three picks.