RE: RE:RE:Can Mason hold on!!
Laroplex...
Very perceptive...Yes, I will look to unload my GLD shares, most likely sometime in August, 2011. I have not sold any shares to-date.
It does not make any sense to hold onto to them...the deal is just too close to my purchase price and I would not benefit from holding them and converting to TRR shares. Also, I have a very large position in TRR...I will look to deploy the capital in another venture.
There is a chance that "they" will give Mason another chance...the Mining Industry is not as hostile as it may seem at times...it is a very tight and close community. Having said that, there is an outside chance for a deal to be made for the 9 Claim Package...we cannot rule it out.
I will explain why?
First of all...you do not want to be looked upon as a "bully". At first glance one may conclude as such...but...the background work seems to tell another story. We will not know the exact truth of the matter...it does not matter...we must deal with what we have before us!
To make this deal happen, Trelawney will have to issue 11,060,566 shares...at todays price it will amount to about 55 million dollars.
The originial deal...according to Trelawney back in January, 2010 was for 2,000,000 TRR shares, spend 5 million dollars on exploration regarding the 9 Claim Package which would result in a 70/30 ownership deal...TRR 70%...GLD 30%.
Simple math...2,000,000 shares @ $5.00...10 million dollars.
The difference is significant...45 million dollars!
I believe this may open the door for Mason...hat in hand...give them what they want and need...move on and keep the Jerome Mine and North Shore Package. All is well...and will be forgotten.
In my opinion...Gibson only wants the 9 Claim Package to develop the Cote Lake Deposit.
Augen did release the NI 43-101 Resource Estimate for the Jerome Mine...1 million inferred ounces....Open Pit Concept. This is a nice move...not to build value so much, but to give him some push to negotiate a deal for the 9 Claim Package. Trelawney does not want to be looked upon as "bullies".
On its own the Resource of 1 million ounces is just a starting point for an Open Pit Operation...it is not a company maker or would it lead to a production decision. It does not have all that much value over and above the Trelawney Offer....Nice move by Gibson...he has a great team behind him! We must keep in mind that the Jerome Property that contains the ounces is only located about 20 miles from the Cote Lake Deposit...Get the Picture! The future developer of the Cote Lake Deposit will be able to haul the ore from Jerome Mine to the Processing Mill that will be constructed to process the Cote Lake Ore....Nice set up...right!
Ownership by Augen of the Jerome Mine Property...not really much value. However, the owner of the Cote Lake Deposit having it is an entirely different story....Value...Big Time!
Conclusion...I truly believe that Greg Gibson, President & CEO of Trelawney only wants the 9 Claim Package.
To that I say...Greg...do the honourable thing..offer Mason the original deal for the 9 Claim Package....shake hands...and move on!
My research has shown that Mason gave a lot of himself over a two year period to put this land package together...it would be a real shame to have it end this way!
There is still time...come on guys...work it out!
Digger144
P.S. If Mason can hold onto the Jerome MIne and North Shore Package and make the deal with
Trelawney for the 9 Claim Package...we will move upward from here!
The deal would give Mason another 10 million dollars without further shareholder dilution.
That would be great!
I hope that they can work things out...it would be the right thing to do!