JIM...Address is the "Hemlo Camp"My research on this company gives it a two (2) thumbs up.
Very hard for anybody to accumulate a large position with so littte O/S.
I would think the "Barrick People" are watching from a "Very Close Distance.
The "BFD Group" would not make a deal with just anybody.
Jim Parras is "Conservative with Money"...best yet...he has an extensive mining background.
Board of Director are very well known within the "Mining Industry"
Audrey Parras...Jim's Wife background is well positioned with great mining history.
KingCanuck's words below are very informative:
I imagine that the financing will be smaller like for the recommended (see 43-101 on SEDAR or JIM website) program of about $300,000, perhaps $500,000 and in the 10-15 cent range (10 hard cash-15 flow thru). When they get that first phase of work done consisting of geological compilation and deep penetrating geophysical surveys, JIM will need cash for deep drilling, and that will probably be at least $750,000 to $1,000,000 for a first pass; but who knows at what share price? If the gold price and market price of JIM hold and move up a bit, perhaps, the financing could be done in the 25-50 cent range (a flow through premium price??).
This is all pure speculation based on my past junior mining investment experience but whatever the case JIM will need to get some shares out into the market and their
stock price up to increase its market capitalization and therefore its attractiveness to larger financings which will be necessary for diamond drilling.
As I understand, the Northern Eagle Gold property, located near Hemlo Ontario, is a great play for an elephant gold deposit and is close to the 21 million ounce Hemlo gold deposit currently mined by Barrick Gold. Also, the property has all the right geological ingredients to host one of these. All that's needed on the JIM property is some deep drilling below 500 metres depth which is a region which has barely been tested in the past. The 43-101 says that 90% of the main Hemlo gold deposit is below 500 metres of depth, so the Northern Eagle gold deposit is essentially untested at these Hemlo deposit depth.
Like I said, buy and buy lots...but don't overdo it. Due your own dd and hop on the JIM train (it will pass through the Northern Eagle property...a CPR line crosses it!) for a good ride.
Share Price Anticipation is any bodies guess at this time.
Good hunting !!
Investor40