A fast note about a new stock -- Fire River Gold Corp.

Fire River Gold Corp (FAU:CA in Canada or FVGCF on the Pink sheets) is a tiny mining company with a working gold mine in Alaska and two other possible projects in the pipeline. The company bought the Nixon Fork Mine which had previously been mined and then closed down. The plan by Fire River for the mine involves doing an extensive drilling program to locate the most promising areas for excavation and then a better program to separate the gold from the ore removed from the mine. The drilling program went ahead over the last year and it showed some areas with high gold content. Let me be quick to point out that these were not extensive areas; the likely gold content of the mine is worth extracting, but this is not a major find. Fire River began actual mining and processing of the ore in early July. It issued its first progress report this morning, and things are looking good.

As a result of today's report, the stock is up about 12% to 48 cents per share. This may seem like quite a jump, but it is just the start of a bigger move that will occur if the performance of the mine continues down the right path as now seems likely. The shares could easily get to $1.50 within a year if the profits come through as expected.

Let me be clear. Fire River remains a highly speculative investment. It is not a place to put money that you may need at some point in the near future. Indeed, I am not even recommending it for investment, although I myself have taken a position in the stock. I am merely calling to your attention a tiny company that has the potential for a big upside. If you like to play with small amounts in the area of stocks that could hit it big, you may want to consider Fire River.

Before you invest, you should review the company's web site for a full introduction to its business plan and prospects. It is also worth reading the governmental filings submitted by the company.

Disclosure: As I say above, I am long Fire River Gold. The investment is for a large number of shares, but at less than fifty cents per share, it is not for a large amount of dollars.