The factsLet's face the facts!
Trelawney is a Canadian junior mining and exploration company with a focus on Archean gold deposits in Ontario.In my opinion Trelawney knows that archean gold is widespread and goes onto Augen Gold's property. In fact they may know that Augen Gold's grams per ton may even be higher than their own. While They have spent more money on promoting their property they Drilled 47 holes as compared to Augen's 917 holes but have made an estimate of 4 million ounces of gold as compared to Augen Gold's 1 million ounces. They are both within the Greenstone Belt, where millions upon millions of ounces have been produced. Augen’s property, which surrounds Trelawney is 4 times larger than Trelawney’s project. The open-pit mining plan of Trelawney would require the draining of three lakes. What does it cost to drain three lakes anyways? AUGEN GOLD has Iintersected 6.72 G/T OVER 11.19 METRES NEAR HISTORICAL JEROME MINE ON THE NORTH SHORE OF LAKE OPEEPEESWAY. Mason went on to say the following: "The company's intersection of 6.72 g/t over 11.19 metres clearly highlights a newly recognized auriferous trend within the heart of a prominent 1.8-kilometre-long gold anomaly on the north shore of Lake Opeepeesway, near the old Jerome While the Jerome Mine is promising, another area, known as the North Shore, located about 20 kilometers to
the northeast of the Coté Lake Deposit, has management really excited. Confidence levels are high here that this
area may host a multimillion-ounce deposit, because, so far, Augen has been able to consistently hit gold in
their drill targets drilled into contact zones between the Timiskaming sediments and porphyry rocks.I beleive They hit gold in 40 of 40 holes.
This is also very interesting:
Latest update from Jay Taylor
Taylor refreshes Augen Gold buy
2011-08-24 17:35 ET - In the News
Jay Taylor, in the Aug. 17, 2011, edition of Gold, Energy & Tech Stocks, refreshes his buy of Augen Gold Corp., recently 39.5 cents. Mr. Taylor first said buy on July 14, 2011, at 37 cents. A $1,000 investment at 37 cents would now be worth $1,067. Augen has received a hostile takeover bid from Trelawney Mining and Exploration Inc. Mr. Taylor says the offer, which values Augen at 32 cents, is "horrible." The offer proposes an exchange of 0.066 Trelawney share for each Augen share. Mr. Taylor says an exchange of four Trelawney shares for each Augen share would be closer to fair, but still not enough. The newsletter editor notes Trelawney's Cote Lake deposit in Northern Ontario contains four million gold ounces, while Augen's Jerome deposit next door has one million ounces. However, he says Trelawney based the estimate on only 47 holes, while Augen based its estimate on 917 holes. Mr. Taylor adds that Augen owns another property, North Shore, 20 kilometres northeast of Cote Lake. He says North Shore could contain a multimillion-ounce deposit. He says Augen's chief executive officer, David Mason, is not incompetent, as Trelawney says. He is confident Trelawney will not succeed in taking over Augen.
Again let's face the facts
oppotunistic:
Opportunism is the conscious policy and practice of taking selfish advantage of circumstances, with little regard for principles.
I think the facts speak for themselves.
Who needs who? Let's face the facts
If you ask me Trelawney has all the hype and Augen Gold has all the facts.
BigBoinker