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Metalex Ventures Ltd V.MTX

Alternate Symbol(s):  MXTLF

Metalex Ventures Ltd. is a Canada-based company engaged in the acquisition, exploration and development of mineral properties. The Company’s principal projects are located in Quebec and northern Ontario (U2), Canada. Its overseas projects are located in South Africa, Morocco and Mali. Its projects include Wemindji James Bay Property, Kyle Lake Property, Viljoenshof Diamond Project and James Bay Lowlands Property. It has a 100% earned interest in mineral claims located in the Kyle Lake area of Ontario, located approximately 200 kilometers (km) west of James Bay in Northern Ontario and about 80 km west of De Beers’ Victor Mine. It also has an interest in various mineral claims located in the Wemindji James Bay region of Quebec for the exploration of diamonds and owns 100% of the non-diamond project. It also has a 100% interest in certain mineral claims in the James Bay Lowlands area of Northern Ontario. It has a 70% interest in the Viljoenshof Diamond Project in South Africa.


TSXV:MTX - Post by User

Bullboard Posts
Comment by donneybrookon Jan 06, 2016 4:18pm
91 Views
Post# 24434323

RE:RE:RE:RE:RE:RE:winter Roads??

RE:RE:RE:RE:RE:RE:winter Roads??
Be careful with DVI bandi.There must be reasons why they could only raise half their money as it does appear to be a decent property. You are probably correct that special advisor Fipke has not put any money into the placement as yet. Not sure if he would accept shares for services or cash. More intriguing would be the hiring of special advisor Laboucan in Sept and his dismissal shortly after. He certainly doesn't portray a very flattering picture of CEO Taylor wrt to the Kimberly process as well as his understanding of 14-103 compliancy... Mr. Laboucan is not going quietly, as he continues to grouse about Mr. Taylors handling of Dunnedin. When the company recently processed 820 kilograms of kimberlite from the PST dike it recovered 5.34 carats of diamonds, including one polycrystalline stone that weighed 2.22 carats. Mr. Laboucan was apparently annoyed that Dunnedin called the 2.22-carat diamond a diamond, as it was more like a ball of tiny little diamonds which is precisely what a polycrystalline aggregate stone is. Mr. Laboucan says that including such a find in the sample grade was pretty iffy as far as he was concerned, since the ugly duckling of diamonds is essentially worthless. Laboucan's response to dismissal... An equally alarming event concerns Chris Taylor, current President/CEO of Dunnedin, and a recent broker investor presentation. It was communicated to me, by a reliable source who was at the meeting, that Mr. Taylor told those at this meeting he had found a diamond while on the property this past summer. As I was with Mr. Taylor while out on the project, I immediately said no we didnt, there was only three of us on the ground prospecting. I then asked the source who was at the presentation if he was sure that Mr. Taylor said he found a diamond, he assured me he had, and one of the brokers had asked how big the diamond was, Mr. Taylor indicated it was small. Upon finding this out, I was very concerned. There are set protocols on chain of custody of diamonds, if you havent announced that to the public, telling brokers you found a diamond while out prospecting is not one of them. Finding a diamond at the surface is very rare, kimberlites erupted millions of years ago, the diamonds in kimberlites are tiny compared to the rock they are contained in. To find a diamond in surface sampling is a rare event. The biggest problem is, it didnt happen, we were prospecting and were certainly hopeful the rocks we had collected contained some diamonds, but we took such small amounts of rock, the chances are small even in a kimberlite field with high-grade kimberlites. The second problem is, if Mr. Taylor had found a diamond, he did not follow proper chain of custody rules. These issues are important for the The Kimberley Process and the integrity of Dunnedin. Diamond companies are supposed to be able to track every stone from the ground to when it is sold, so it can be accounted for until it ends up in a piece of jewellery. Mr. Taylor had little experience in diamonds when we started the effort to move Dunnedin into the diamond space a little over a year ago. The recent events concerning this diamond he allegedly found while out prospecting, and how he handled it are a perfect example of his inexperience concerning the diamond industry, and that he is unfit to lead the company any longer. https://allanbarryreports.com/2015/10/14/laboucan-pushed-out-of-dunnedin-plans-return/
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