Fury Gold Mines Ltd AUG

Primary Symbol: T.FURY Alternate Symbol(s): FURY

Metals & Mining Gold

Fury Gold Mines Limited is a Canada-based gold exploration company. The Company's principal business activity is the acquisition and exploration of resource projects in Canada. It owns a 100% interest in the high-grade gold Eau Claire project, which is situated on over 23,000 hectares (ha) in the Eeyou-Istchee James Bay region of Quebec. The Eau Claire project is located approximately 800 kilometers (km) north of Montreal and 350 km northwest of Chibougamau. It owns a 100% interest in the Committee Bay gold project located in Nunavut, Canada. The project includes over 250,000 ha, situated along the Committee Bay Greenstone Belt (CBGB). The CBGB comprises a number of Archean- aged greenstone belts occurring within the larger Western Churchill province of north-eastern Canada. It owns a 100% interest in the Eleonore South project. The Eleonore South project is located in the Eeyou-Istchee James Bay region of Quebec, approximately five km south of Newmont's Eleonore mine property.

TSX:FURY - Post by User

Fury Gold Mines Ltd

Bullboard Posts

Post by Veteran1on Mar 18, 2009 9:32pm

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Post# 15854015

Insdier Buying

The last time I talked to David he was excited about the new agreement between IAM and Augen.

Pursuant to the Management Agreement it is IAM’s intention to acquire by September 1, 2009 up

to 3,264,000 common shares of Augen (approximately 8.9% of the currently issued and

outstanding shares) at a maximum cost of $489,600. IAM may acquire shares in the secondary

market through the facilities of the TSX-V or otherwise. To the extent that IAM has neither

acquired 3,264,000 shares nor spent an aggregate of $489,600 (excluding brokerage costs)

acquiring shares by September 1, 2009, IAM will apply the remainder of the $489,600 to acquire

shares from Augen, subject to the approval of the TSX-V.

The deal was structured to get IAM to buy on the open market outstanding shares at an average price not to exceed .15 a share for a 8.9% weighting of Augen Capital. Looks like David likes the deal enough to beat them in the share accumulation as he bought 133,000 more shares at .10.

Another coup was Augen Capital buying back a chink of Augen Gold less than theri intial .20 a share purchase a while back and a fraction of the price the shares sold last spring as an IPO at .70. Augen got shares back at .15 and I believe they will once fianlized own about 1/3 of Augen Gold which has excellent potential.

GLTA