Brien Lundin, in the July, 2016, edition of the Gold Newsletter, says hold East Africa Metals Inc., recently 19 cents. Mr. Lundin said buy in April, 2015, at six cents. A $1,000 investment then is now worth $3,166. East Africa Metals, having recently completed a 4,000-metre infill drilling program at its Adyabo project in Ethiopia, has now updated its resource estimate on the project. About 446,000 gold equivalent ounces have been moved up into the indicated category from the inferred category, and the gold grade of the indicated resource is now 73 per cent higher than the grade for the inferred resource (3.92 grams per tonne compared with 2.26 g/t). That is an impressive result for a fairly small drill program, says Mr. Lundin, adding that management clearly knows how to make its cash go a long way. The company recently raised more cash by closing a $1-million private placement of 10 million 10-cent units. Each unit comprised one share and one-half of a warrant, with each whole warrant exercisable at 25 cents for two years. Mr. Lundin plans to keep East Africa Metals as a hold while he waits to see how it uses the proceeds from the financing.