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EGR Exploration Ltd V.EGR

Alternate Symbol(s):  CDNMF

EGR Exploration Ltd. is a Canada-based company. The Company’s principal business activity is the acquisition and exploration of mineral properties. The Company is exploring for gold in the Detour-Fenelon Gold Trend, approximately 300 kilometers (km) north of Timmins, Ontario. The Company’s 34,681-hectare (ha) Detour West gold project is contiguous to Agnico Eagle’s property, which contains the Detour Lake Gold Mine and is approximately 20 km from the mine, which is also hosted in the Abitibi Greenstone Belt. It is targeting gold deposits associated with the potential extensions of the Detour-Fenelon trend structures onto the West Detour property. Its Urban Barry property is in the Urban Township of the James Bay region of Quebec in the Abitibi Greenstone Belt. The Urban Barry properties encompass an area of approximately 6,900 ha and directly adjoins Osisko’s Windfall property, with the Langlois base metal-silver-gold mine located approximately 30 km to the northwest.


TSXV:EGR - Post by User

Bullboard Posts
Comment by bamakoon Jan 07, 2011 3:44pm
742 Views
Post# 17940781

Financing

Financing

Think about it.  If CIN had even an inkling of mediocre or bad results, the company would surely have done a financing by now.  Rather, they are holding off until subsequent to assay issuance because they believe they drilled up positive results.  The hitch at this point is entirely on the assaying lab in Ancaster (which was closed over the Christmas to New Year week, btw).  The slow up is hampering all kinds of plans the company has in terms of the 3 forthcoming shows (the third after Round UP and Cambridge being a Canadian government sponsored Critical Metals conference).  CIN was not able to take advantage of the recent share spurt of just about all other REE companies due to lack of assays.  

Indeed the delay surely accounts for the mildly faltering shareprice, though it continues to hold up very well.

In terms of negotiating with Spectrum, at some point Spectrum has no choice but to deal with CIN.  Of course, they can sell independent of CIN but for any mine to work for them, they have to deal with CIN as the REE moves entirely in the direction of CIN.  But any negotiation can only be done from a position of strength and that means good results from assays (which I strongly believe they have but again when will they come out?).

Bullboard Posts
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