Maple Gold Mines Ltd V.MGM

RE:RE:RE:Agnico and Kirkland merge.

[Angelique01]

aschi1 wrote:

Hi Bluegrass,

i,m afraid you have to rethink your Numbers ;)
First of all - how do you count the 4,8 M Oz for Maple - unfortunately we stand at 2,8 and what is to note - that's not a Reserve ! Just inferred 
I personally don't think we hit 4 Mio with the new Resource Update. 

As for your 10 % - they are talking from Reserve Status .
The Website from Agnico alone points out:
Reserves proven + potable : 24,082
Reaource measured + ind.  : 15,346
Reaource inferred                : 23,351

so Maple is not near 10 % from anything and without a major Drillprogramm I'm afraid it will take Years - Best Luck we move on forward faster here 

Hi Aschi1,

Without a doubt you are one of the more knowledgable posters both on Stockhouse and on ceo.ca with respect to MGM.  I concur 100% with what you have stated.  
Yesterday I started an opening position (initial tranche) in MGM.  Not quite at the same level of ownership as you  but may get there eventually.   Patience is the key. 3 reasons for buying.
1.LOCATION LOCATION LOCATION
2.Superior Management
3. AEM/Kirkland partnership
The JV agreement has speeded up the exploration/ mine development process from decades to years.  Still many years away from the first gold pour.  If I had to guess I would say 4-5 years.  Have never heard mangement say anything about project economics or PEA.  Way too early for that. Highly doubt it will MGM doing the mining.
MGM still trying to figure out what they have in terms of a resource.  
Key is drill baby drill. 10,000 metres in winter and 10,000 in the fall don't cut it.  When Malartic property was being drilled Osisko had 100,000 metres of ongoing drilling.  AEM needs to accelerate the spending and the drilling.
9 holes left to report

Main         21-304
                 21-309
                 21-306
                  21-208

Porphyry   21-295
                  20-292 
                  21-305 

NW            21-296

DW            21-297


Unfortunately P8 and NEIP were duds.

On the gold side gold price is still consolidating.  Most gold stocks are trading as if gold price is $1550.  We may still get there.  Markets still look like bracing for a major correction. If that happens should be all kinds of bargains.  Cash is still KING. 

Grusse von der Schweiz