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Abacus Mining and Exploration Corp V.AME

Alternate Symbol(s):  ABCFF

Abacus Mining & Exploration Corporation is a Canada-based mineral exploration and mine development company focused on copper and gold in British Columbia (B.C.) and Nevada. The Company’s main asset is a 20% ownership interest, together with KGHM Polska Miedz S.A. (80%), in the proposed copper-gold Ajax Mine located southwest of Kamloops, B.C., which has undergone a joint provincial and federal environmental assessment process. The Ajax Project comprises eight Crown grants, including the Ajax East and West pits. The Company is also engaged in the process of acquiring a 100% interest in the Willow copper-gold property located near Yerington, Nevada, and it also controls the contiguous Nev-Lorraine claims subject to a ten-year lease agreement. The Willow property is located approximately 65 kilometers southeast of Reno and approximately 13-kilometer due west of Yerington, Nevada, in the Buckskin Mountain Range. Its porphyry copper deposits are Yerington, Ann Mason, Bear and MacArthur.


TSXV:AME - Post by User

Comment by sesses3on May 06, 2012 1:08pm
343 Views
Post# 19877121

RE: Surprised that the share price didn't hold @ .

RE: Surprised that the share price didn't hold @ .

New Gold's huge El Morro project in Chile (jv with Goldcorp) has just been put on hold due to permit issues, which is why their share price is under pressure.

 

I still fail to see why anybody would be interested in DCY. Their property is too close to Kamloops (ie. if Abacus has problems, DCY will have even more), is extremely early-stage and there are no obvious buyers.

 

KGHM has inherited a huge land package from Abacus, including several deposits with defined resources, so if they want to expand the Ajax operation down the road, they don't need to acquire additional land. Besides, it'll be several years before the mine is in operation, so it could be a very long wait for anyone expecting them to buy DCY.

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