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Puma Exploration Inc V.PUMA

Alternate Symbol(s):  PUMXF

Puma Exploration Inc. is a Canada-based mineral exploration company. The Company has a portfolio of precious metals projects located near the Bathurst Mining Camp (BMC) in New Brunswick, Canada. It controls more than 70,000 hectares (ha) of prospective land in northern New Brunswick. Its projects include Williams Brook, Jonpol, Portage, TIMM, McCormack Brook South, Carleton, Rocky Fault, Jacquet River, Ten Miles Pool Road, and South East Moose Brook. The Company's primary focus is its Williams Brook North property, located approximately 60 kilometers west of the city of Bathurst and accessible via a paved road. The Jonpol properties consist of approximately 204 claims near the Murray Brook and Restigouche deposits. The Portage Lake property consists of 118 claims and is located at the northwest contact of the former Restigouche mine. The TIMM property of 223 claims is located 10 kilometer east of St-Quentin and covers 4,840 hectares.


TSXV:PUMA - Post by User

Bullboard Posts
Comment by ganja50on Aug 30, 2012 4:51pm
155 Views
Post# 20281625

RE: RE: RE: RE: RE: ..whats up..

RE: RE: RE: RE: RE: ..whats up..

Hache lens only reported 2 mil oz Ag but back of the envelope calculations are 15 mil oz ag and 30 mil oz ag eq.  They believe Raya lens is larger than Hache.  Maybe 16 more lens left to evaluate after Raya where they have put down 8 drill holes so far.  Results in late Sept., I believe.  Hache has been drilled ro 350 m and ended in mineralization so there is a possibility that thick, continuous mineralization underlies the 'string of pearls' so far discovered.  Puma rec'd an offer a year or so ago from a medium sized mining co. to pay them 150% of their mining expenses theretofore and get 50% of the project, with PUMA pocketing 10 mil to carry on the investigation with a well-endowed partner.  Clearly, they turned down the offer in spite of the attractiveness of no further dilution.  Sprott has warrants at .30 which PUMA thinks will be money to the co. and there may be no further dilution for a year or so.  They are very sensitive to dilution.  Do not intend to mine the deposit but rather to sell it once it has been adequately defined whether in 3 mos. or 3 yrs.  Plenty of excess smelting capacity in the area and logical suitors are Glencore and a Brazilian privately owned mining co. that also works in the area.

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