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American Creek Resources Ltd V.AMK

Alternate Symbol(s):  ACKRF

American Creek Resources Ltd. is a Canada-based junior mineral exploration company, which is engaged in the acquisition and exploration of mineral properties, principally for precious metal deposits. The Company’s projects include Treaty Creek and Austruck-Bonanza. The Treaty Creek Project covers approximately 114 square km in the Skeena Mining District of northern British Columbia and is situated approximately 70 km north of Stewart. The Austruck-Bonanza Property is located within the Kamloops Mining Division 53 kilometers north-west of the city of Kamloops in south central British Columbia. The Austruck-Bonanza Property is underlain by Devonian to Triassic Harper Ranch formation comprised of fine grade sedimentary rocks including mudstone and shale and includes basaltic volcanics. The Company holds 100% interest in the Austruck-Bonanza Property and 20% interest in the Treaty Creek project.


TSXV:AMK - Post by User

Comment by rockport1on Mar 16, 2010 9:44pm
499 Views
Post# 16890671

RE: RE: RE: RE: RE: RE: I hate to say I told you s

RE: RE: RE: RE: RE: RE: I hate to say I told you sInteresting debate between JL & TI. At risk of stepping into somebody else's discussion, I have to agree with JL.  As a shareholder of TUO & not AMK, my interest and preferred outcome is to increase the perceived/market value of Treaty Creek. IMHO it is very unfortunate that Teuton is dependent on such an inefficient partner.
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Over the last 3 years, AMK has carried out only enough work to demonstrate that there is potential on TC. No defined resource and not enough work to understand the structure. At the same time, Seabridge next door has increased inferred resources on their Mitchell zone by almost 40 million oz.  Silver Standard, also next door, has increased their inferred resources from 1.7 million oz to 29.8 million oz on the Snowfield zone alone. 
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Perhaps this is not a totally fair comparison, however, it does outline the very slow progress that is happening at Treaty Creek. Now that AMK & TUO have hit the potentially company(s) making Copper Belle zone, it is imperative that they move quickly. If not, they are vulnerable to being taken out well before shareholders will see much share appreciation. 
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The pie-in-the-sky potential for Treaty Creek is now anywhere from a few million ounces to somewhere in the tens of millions, al. la. Seabridge and Silver Standard. So as AMK/TUO shareholders, we should want them to do enough work, as quickly as possible, to define the size of the deposit. Deepening one hole is not the answer! They need to drill, drill, and drill to expand the size of the deposit!
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With micro-caps of $12 million (AMK) and $16 million (TUO), they are just too easy to be swallowed up by anyone with deeper pockets, even at premiums that double share prices.  Treaty Creek is definitely on Seabridge's radar given their tunnel proposal across the Copper Belle zone, and I'm sure that 241 m @ 0.80 g/t also caught the eye of Silver Standard. As someone who is looking for a ten-bagger or more from TUO, it is disconcerting that both SEA & SSO have just re-loaded their treasuries with an additional $65 & $108 million respectively.  With gold over $1100, even small companies are potential takevover targets if the potential is there: Kinross's offer for Underworld may be just the start.
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Sorry for the long post, but to reiterate, IMHO we need to see substantial work programs take place on Treaty Creek now.  A $600,000 financing for AMK is far too small to enable such a program. All shareholders of AMK and TUO should be screaming at these two companies to get moving.  
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