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MFS Municipal Income Trust V.MFM


Primary Symbol: MFM

MFS Municipal Income Trust (fund) is a diversified closed-end management investment company. Its investment objective is to seek high current income exempt from federal income tax but may also consider capital appreciation. It invests, under normal market conditions, approximately 80% of its net assets, including assets attributable to preferred shares and borrowings for investment purposes, in municipal bonds. These municipal bonds include debt securities issued by or on behalf of states, territories, possessions of the United States, District of Columbia, and their political subdivisions, agencies, or instrumentalities. The Fund invests in various sectors, such as hospitals, secondary schools, colleges, schools, and water and sewer utility. It has investments in areas, including Alabama, Alaska, Arizona, Arkansas, California, Colorado, Delaware, Florida, Georgia, Guam, Hawaii, Idaho, and Illinois. Massachusetts Financial Services Company is the investment adviser of the Fund.


NYSE:MFM - Post by User

Bullboard Posts
Comment by northernbullon Jan 27, 2012 7:58pm
146 Views
Post# 19460118

RE: Results

RE: Results

There's no mention of phase II drilling, as it hasn't started yet. It was explained to me at the Vancouver show that this second 'round' of drilling is still part of 'phase I' of our joint venture agreement. The way things were worded in the releases were confusing, but this set of results will end Phase I and probably even start chewing into Phase II of our agreeement. Phase I required $3 million of work I believe. That wasn't accomplished with the first round, but Walters figured they were over the $3 million mark with this second round and therefore will have already begun contributing to their Phase II requirements, which is $6 million.

I know lots don't think Nova is playing fair with us, but keep in mind they are restructuring into Nova Gold and Nova Copper right now and a lot of things need to be figured out. They are definitely a little preoccupied at the moment and we're not even sure which side of the company San Roque will end up on. I did ask both Walters and Roulston if there was any chance we'd just get forgotten in the shuffle, but both were very confident that they wouldn't let go. Roulston pointed out the size potential of San Roque and the fact that there aren't many plays out there that meet the size prospects that Nova or Barrick are interested in.

 

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