SummaryStockmoves: I was sent this explanation o the claimset by a friend. It is in-line with my knowledge of the site, but wanted your opinion. Please would you take a moment and explain any errors or inconsistencies? Thanks. "The claim set that is driving the three is called Treaty Creek. Inside of treaty creek there are several sites they are working (goldstorm, konkinzone, PS2, gs2 etc). The entire claim set is owned by 3 companies, in a joint venture. Tudor: owns 60% of the claim Teuton: owns 20% of the claim + 2% smelter royalty American Creek : owns 20% of the claim. The deal is that teuton and AMK are fully carried until a production order is made. That means that tudor has to up front pay for all the exploration, economic assessment etx. Tuo and AMK get a free ride. Its billions to build a mine, and only a few companies in into world big enough to do so, so long before production order given, all three would get bought out. Viz, AMK needs no treaty creek exploration cash expense. Due to the JV ownership, AMK should trade at a price that delivers at least 15-20% total market capitalisation versus Tudors market capitalization. That doesn't count the other properties that AMK has, and they have a couple other good ones (electrum, dunwell and gold hill). You can find market cap on the bullboard site, in the quote section. Amk is currently at about 92 million versus Tudors 420 million, so essentially 20%. As tudor goes up, so should AMK. Tudor value(and by association, AMK's as well) is driven by a couple things. A. Ownership and management. Walter Scott - Osisko, mine developer, billionaire. Eric Sprott - global guru in the space, billionaire. Ken Konkin, geologist, found valley of the kings (Pretium), knows the geology better than anyone, deployed MT survey techniques early, both PVG and TC to define drill targets. Couldn't get a better exploration group. The... 1. The location of the potential mine. It's in BC, Canada so safe and mining friendly, the safest and friendliest mining jurisdiction in the world. Natives are signed off and working on the site. Plus, the claim is close to the high power lines and highway that run to the bulk tonnage shipping port in Kittimat, there are just 20km of road to build and the road doesnt have to go over a mountain, so cheap. 2. The discovery is low grade, bulk tonnage. So billions of tons of ore. Also, the grade so far has been very consistent, and the highest grades are 0 to 300 meters so at surface. This makes it very low investment to build a mine, so very profitable. Especially with 1800 gold. This mine ould make a fortune for the owner, over 50-60 years. 3. Right now, based on the grades and size of deposit they've found, if the grades were consistent over the strike, which they appear to be, there could be discovered already about 30million ounces of gold. At 1800 an ounce history shows that a company buying treaty creek would pay 150-200 an ounce in the ground, so 30,000,000 150$ = 4.5 billion potentially the find is worth. If that's how much gold there is, tudor is worth 60% of that or 2.7 billion (600% more than the market cap is now) and amk would be worth 20% or 900 million, a 10x increase in market cap. Assuming that no more shares were issued, if the economoc assessment was published at that today, share price would jump from 30 cents to 3$. 4. Tudor is spending 30MM or so in drilling this year. Eric Sprott just gave them 9MM more on Friday. Their goal is to drill 30,000 meters of core. They have hired an engineering firm to use the previous drilling and this years drilling to develop 43-101 preliminary Economic Assesement (PEA) (what the preliminary economic assessment is called) this year. So, big find, they are trying to prove the size this year. Theres lots of gold, they just dont know how much. The 43-101 is the gospel, once that report says how much there is, that's how much there is. 6. They cant find the "edges" of the find. Usually, prospectors will drill, hit gold, move the drill 15 meters or so, hit gold, and keep moving until they dont hit. Then they infill drill for consistency of ore, and once they do that all 4 areas of the claim, they can do the math and figure out how big. Tudor is stepping out 150 meters, so 10 times the distance, which is unheard of, and every time they step out they hit. The last step out they weren't expecting to be as strong as drilled in an area where they thought they would weaken (again, they are looking for the edges), but it turned out to be the strongest intercept yet. When you step out that far and hit, you are adding MILLIONS of ounces of gold. So...The only thing stopping tudor from getting an economic assessment is that they keep stepping out to find the edges, but they keep hitting gold. 7. Seabridge- next door. Seabridge KSM claim is next door. KSM is one of the largest undeveloped gold finds in the world. Seabridge was exactly tudor 20 years ago, went from 30 cents to 30 bucks, when they found the KSM site right next door to what is now treaty creek. The trouble with KSM claim is that they are on the wrong side of mountain, so hard to get to and also, their gold is really deep, so no open pit. They would have to block cave mine to get it out. This would cost about 5BB dollars. So, they'd spend 5Billion to make 5billion, it won't ever get mined... until now, 1800 gold. In order to block cave mine, seabrisge would have to drill 2 x 20 km tunnels. Since gold started climbing, they have started to test drill the tunnel route. They have a easement that would allow them to drill the tunnels, regardless of what TUD wanted, but they would have to turn over all the core samples to TUD to assay, so TUD gets a bunch of "free" core results (the tunnel route goes right through what is supposed to be the richest area, so would be a cool windfall to get drilling for free here). Also, if they did drill the tunnels, TUD would get all the free ORE, as they have the mineral tenure ans SEA just has a right of way. These tunnels would take ore from the underground mine, to the mill. These tunnels have to go straight through treaty creek. So.... there is much conjecture that seabridge would buy treaty creek, open pit for 50 years the treaty creek claim, make billions, then when the pit was done, they wouldn't need tunnels, they would just move onto KSM. Also - there is lots of talk that a huge major, like Barrick, would buy the whole area, and develop both mines over the next 100 years. Until now, 10 billion dollar acquisition would be unheard of. No one had that kind of money.... until 1800 gold hit. Remove the total gold space is only worth as much as google! These investment deciaions are not made lightly as (until now) comparativwly little money in the space. The mining companies are making insane profits. Existing mines are profitable at 1200 gold. They now make 700USD more pure profit per ounce because gold is up. The biggest problem the major miners have is what to do with all that money. Well .... they can buy SEA, TC or both. This speculation is also driving share price. Anyway my two cents on what I like about this play Do your own due diligence, it's a super speculative game these stocks, eyes wide open, they could all crash, but in my opinion, and I'm long in the stock, this could be a once in a decade, maybe even a once in a lifetime find. Why price down? AMK has about 400 million shares outstanding, which means its liquid and easier to target than TUO and TUD that are more closely held. As the shares are held more widely than tudor, so it's easier to scare people off the stock by using short positions to spoof the market into selling. What happens is a stock is say trading at 37 cents say, then a huge shareholder puts a big block for sale at 35 cents. The market says "wow, that's a lot of shares, what do they know that I dont"? If they panic and sell, the share price starts to fall, and when it falls, it starts to panic other people. The people that conspired to drive it down then buy up all the now "cheap" shares and profit take when it bounces back, or win on the shorts that they've placed to bet on the fall. I'm not sure how many shorts are actually in play, bit I think there are alot That's what I think is happening here. Not advice, but I'm gonna hold. There is lots of gold I the ground, it's in a good place, grest management, lots of cash and gold is strong from a fundamental point of view.