Alexandria Minerals Corp ALXDF

Metals & Mining Industrial Metals & Minerals

Alexandria Minerals Corp is a Canadian based gold exploration and development company. Its project consists of Orenada, Akasaba, Sleepy, Manitoba and Ontario properties together with the Other Quebec properties. It is mainly focused on exploring the cadillac break property which is located in Val-d'Or, Quebec. The cadillac break property consists of approximately 21 contiguous projects of over 460 claims, located in Bourlamaque, Louvincourt and Vaquelin Townships. The manitoba properties include

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Alexandria Minerals Corp

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Post by production05on Jun 12, 2015 6:25am

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Post# 23823278

I see Fancamp-Embry coming back to Alexandria (at 100%)

(whether it is now or 15 months from)

I believe the 70% option to Tomagold will likely expire, with Fancamp and Embry remaining with Alexandria at 100% ownership.

I took a look at Tomagold`s financials and noticed they wrote off 100% of the Fancamp and Embry costs they had in their books. They wrote the costs off completely in 2014, as impairment charges. Auditors normally require companies to take impairment charges on properties when these properties have sat idle for a while and if there are no near-term plans to work the properties.

Also, Tomagold no longer has property info on their website about the 2 properties. They also no longer mention the properties in their Corp Presentation. Actually, instead, they mentioned that their new business strategy is focused on purchasing a small producing mine.

In addition, Alexandria mentions nothing about the option of Fancamp or Embry, on the respective web page.

The Fancamp 70% option expires in about 15 months. Given everything, it seems like Tomagold currently has no plans to spend the $1,050,000 cash on Fancamp and Entry to exercise the 70% option.

I think it`s just a matter as to if they rip up the exercise option now or wait for 15 months for the option to expire unexercised.

I believe Fancamp could hold significant potential at depth. The Monster Lake deposit is located nearby, on a different trend, but it provides an example of the potential in the area, at depth. Due to the Monster Lake discovery, a number of exploration companies have moved into the general area and are now exploring. Iamgold is running the drill program for Monster Lake, to earn 50% from Tomagold.

Whenever the Tomagold option gets ripped up, Alexandria can then look for a new joint venture partner to carry the exploration costs. However, this time they can try to make it a 50/50 joint venture, instead of the 30/70 deal Murgor had with Tomagold.

Below is a map of drill targets at Famcamp. In addition, the ``Fancamp Deformation Corridor`` will likely have targets as well.

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