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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 with a focus on copper and gold. The Company is principally engaged in the acquisition, exploration, and development of mineral properties in Canada and the United States of America. The Company holds interest in KGHM Ajax Mining Inc., which is focused on the exploration and development of the Ajax Project located near Kamloops, British Columbia. The Ajax Project comprises eight Crown grants, including the historic Ajax East and West pits. It also has an option to earn approximately 75% ownership interest in Willow Property. 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. This property covers four porphyry copper deposits, namely Yerington, Ann Mason, Bear and MacArthur.


TSXV:AME - Post by User

Post by canneon Nov 28, 2015 11:55am
103 Views
Post# 24334621

no time to change strategy

no time to change strategyI have held AME so long now I feel like we're married, through several cycles-always the same result, a gradual loss of control and a lower stock price, it's worth so little now, it's "value" to me at this point is mainly as a tax loss. HOWEVER, it does have some possibilities, a deep pocketed and patient partner, a provincial government that is eager to create jobs and a terrific location as far as infrastructure, labour and transportation are concerned. The ore body has both base and precious metal and it is straight-forward to concentrate. We all know what is against this operation, people that live near the mine simply don't want it to operate because of noise and perceived health risks. Seems to me the city council is having trouble showing leadership either way and is hoping someone else can make the decision for them - not that it is an easy one, they are faced with economic as well as political consequences whichever decision is made even if the decision to either support or reject is made for them.
It is interesting to speculate about risk. Probably the chances of being killed or injured in a car accident are far higher than the risk of getting sick from the mine for the folks around the site, yet the mine risk is seen as high while the accident risk is seen as being low...
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