RE: drilling"Halcrow didnt you mention something about expensive drilling costs during the summer at Cumo?""
There was a poster on this forum (it seems that he sold out in disgust some time ago) who had reviewed the drilling costs and footage drilled and determined that the per-foot cost was at least double the industry norm.
Of course, even at double the industry norm and with a captive client (Kirkness' president, Kyle, is the son of MSQ's president, Brian), Kirkness' costs are such that Kirkness seemingly can't turn a profit.
Kirkness' financials can't even be called smoke and mirrors, IMO. They're only smoke, because they aren't broken out on MSQ's: they just consist of numbers mixed up in a jumble of numbers.
And then there's Vicore, which is seemingly a drilling company, drilling somewhere, using MSQ money, for the benefit of someone (and its operations don't even warrent being revealed as numbers mixed up in a jumble of numbers).
https://www.stockhouse.com/Bullboards/MessageDetail.aspx?s=MSQ&t=LIST&m=30626688&l=0&pd=0&r=0
Don't forget about Vicore Mining Developments Ltd, lol. In or around 1997, MSQ bought 30 per cent of the company for $150,000, amd Stockwatch's database records that Brian Anthony McClay became a Vicore shareholder in early 1998.
In early 2003, MSQ purchased the 70-per-cent of the Brett Properties not owned by MSQ (MSQ bought 30 per cent of Vicore in 1997) for 500,000 MSQ shares. That news release put the owners of the other 70 per cent of Vicore as A J Beaton Mining Ltd (30-per-cent shareholder of Vicore), Alexander McPherson ((30-per-cent shareholder of Vicore) and David Tindale (10-per-cent shareholder of Vicore).
The follow-up release stated that "The acquisition of these claims is through the purchase of a 70-per-cent equity interest in Vicore". IMO, this is incorrect, and MSQ only purchased the 70-per-cent of the Brett properties not owned by MSQ.
Accordingly, as substantiated by the June 30, 2011, audited financials and the September 30, 2011, first quarter financials...(5) The Company has 30% interest in Vicore Mining Developments Ltd. (Note 6)..,, MSq only has a 30-per-cent interest in Vicore.
As this is patently so (unless the financials going back to the late 1990s are incorrect), then why did MSQ advance $150,000 to Vicore in 2010/2011? Why didn't A J Beaton Mining Ltd, Alexander MacPherson and David Tindale advance their portion, which would be $350,000? If this money was advanced, where did it go? If it wasn't advanced, why isn't there a receivable