Mountain Lake Resources Inc V.MOA

Market recovering

[brianjames]

TSX is getting close to 10,000 again, and yet MOA lingers in the low 20s.......ouch!!!

BJ

[Cousin_Gert]

Hey BJ...MOA is so undervalued...just check out the sell side this morning,,,only four orders listed all together...6k@.25...4k@.30...5k at $.90 and 10K at $5.00......All it will take is someone realizing that a 100%(and much more possible) is all but a given for 2009 and it will pop. Soon VLake will be back on the radar screen with its summer/fall drill program returning more good numbers...the

[brianjames]

Hey Cous......Nobody even posts on the MOA board anymore, so it's very quiet.I've picked up lots of shares during this down time, probably averaged around 15-17 cents overall and totally agree that it's wayyyyyyy undervalued.  Although the $5.00 order is a "little" high, I can see this being anywhere from .60 to .90 cents in the near future.  Bought the max number

[RetiringYoung]

BJ what are the rules on TFSA?It's max 5K but per year or forever? If you put in 5K and build it to 15, your gains are tax free but then what?What if it drops to 1K, can you top it up? ie as long as you are only putting in to a max of 5K, it's tax free? Haven't done it yet but it seems like a small no-brainer

[Cousin_Gert]

RY...It is $5,000 per year contribution...Anytime you can take a withdrawal from this account no matter how large it has grown the $'s are all tax free ... the $'s never get added to income... so all tax free no matter what..Let's say you are BJ and put in $5 in and invested in MOA and it grows to $15K in 2009...next year you put in another $5 so now there is $20k..say this

[brianjames]

Your bang on RetiringYoung.....Max you can contribute per year is 5K, and right now is ongoing until the Government changes the rules again.If it builds to 15K, no biggy.....it's yours and it's tax free.If it goes down to $1,000, you cannot top it up as you've already put in your 5K for the year.Hope that helps.BJ

[brianjames]

Hey Gert.....I replied before I noticed you did as well....One thing to add to your post.I do believe if (in the scenario you gave), if I did withdraw the $40,000.00, it would report on my Tax Assesment that I had done so, and not only can I contibute the 5K again next year, but if I happen to have the $40,000 handy I can recontribute that as well...........it gives you that option. (I could be

[Cousin_Gert]

Yes BJ I think you are right about being able to put withdrawls back in and like you I'm not sure if it the full amount you took out or just the $5K annually allowed since plan inception. I do also believe that once set up, if you contribute less than $5k in any one year, you can top that up in later years...seem that everything is set to benefit the plan contributor and not the tax man...C