RE: RE: RE: RE: Quebec budget positive for MDN To be a long shareholder in an exploration company is very frustrating. I'm in this stock since 1996 and I could go out a couple of times over 1,50 and I did not. So I have to wait until the next upside. It takes a lot of time to do a new discovery and Ikungu, in my opinion, could be the next one.We cannot go back on decisions made by the former administration like the buyback of unuseful warrants that cost $5 million to the company. It has been very frustrating to be a minority partner with Barrick on Tulawaka, but at least it does not cost any money to shareholders and who knows what they could find under the East part of the pit.
I've been a manager in the mining and metallurgy industry working on projects and engineering. One project I worked on has been delayed for 9 years before we got the money to achieve it.
The name of the game is money and I agree with you that at some point the administration costs were too high. In the last quarter financial results we can see that an effort has been done on it.I agree with you that Marketing is the weakest part of the company and and I discussed it at my last meeting with Mr. Bureau.
You cannot buyback shares when you need the money for your daily costs. For Crevier, it's the same thing, you cannot build a mine if the results of the bulk test are not satisfying. That's what happened with Lakefield. From what I know, the latest test that has been done at Corem went pretty well but they have to wait for the final results and analysis before publishing it. So yes it has cost more because they had to do a second bulk test. You cannot invest 300 millions on bad results.
Like you, I hope for a spin-off and a new partner on Ikungu... Let see what will happen in the next months and see you at the next AGM.
Happy Holidays, Pierre013