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North American Palladium Ltd. Message Board

  • bellbell63 bellbell63 Nov 28, 2012 9:06 AM Flag

    MAP LaFlamme JV with Midland

    Why LaFlamme venture with Midland (MD.V) is not significant:

    Midland (MD.V) is an exploration company. Here’s how that works:

    They file large claim on a area that either once produced gold ( usually many years ago in undetermined quantities) or has known gold within 200 KM They then rent a helicopter , tie a magnet to a string and fly back and forth over the claim. They then pick some “promising” spots”. But since they spent all their money on the copter and gas, they then look for someone to foot the bill for drilling in return for a share (of nothing yet). Junior exploration companies never mine anything, they just get someone else to foot the bill and hope the next claim will be “the one”.

    In stock market terms :
    I have discovered 5 stocks that are very promising. I have no money to invest but I will give you the stock names and you invest $1,000,000 in each of them. We split any profits. But if they go down, oops. But wait I have another 5 stocks ……


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    • Not so fast!

      A change in investor sentiment could be right over the horizon for Jr gold exploration companies and if that occurs, the money will flow into the sector.

      I'll leave it to you to consider what an up and running mill might be worth in a region with lots of gold prospects in the neighborhood and if that might mean upside value for the asset.

      gotta think outside the box and understand that the current status quo is abnormal and can change on a dime for junior gold stocks and their ability to get funding in order to dig money out of the ground that holds its value 10 times better than Bernanke's Charmin can change just as quickly.

      So the more helicopters with strings and magnets there are, the better.

      Much better than a helicopter w/a bearded man dropping TP.

      • 1 Reply to winsabokk
      • Maybe so, but I just wanted to point out that things don't happen overnight in the mining business. even if the test holes are promising, I would estimate at least 2-3 years until an ounce of Au produced. And more if it is a greenfield project and needs studies and permits etc. And Quebec is not nearly as friendly as Ontario. Just not a serious factor in Au buyout decision.

    • I can understand your cynicism, Bell. I too have a stack of options that are about to expire worthless in Dec and Jan.

      But don't discount the Laflamme exploration, just yet. It seems to me that they are moving along fairly quickly, with sample drilling to begin early 2013. Some of the drill spots are not far from the Maudore gold discovery. If one of the several drill areas turns up good results, it could sure sweeten NAPs gold assets and help them to negotiate a higher price. It's also possible that if they are in divestiture negotiations already, that the perspective buyer is asking for more clarity on Laflamme.

      Per Midland's press release:
      "An important drilling program designed to test these new targets is expected to begin early in 2013 and will consist of a minimum of 2,500 metres.

      The Laflamme property covers more than 50 kilometres of favourable stratigraphy and structures with potential for orogenic gold, volcanogenic massive sulphides (Cu-Zn), and magmatic Ni-Cu-PGE deposits associated with ultramafic rocks. This property was initially acquired in 2008 based on the presence of significant gold, copper and zinc anomalies in till, identified under the Octave project jointly led by the Ministère des Ressources naturelles et de la Faune (MRNF) and the Geological Survey of Canada (GSC)."

      • 1 Reply to bigsee4c
      • ""An important drilling program designed to test these new targets is expected to begin early in 2013 and will consist of a minimum of 2,500 metres."

        2500 m? Will tell you very little except where not to drill in 2014. :-) A single hole is just the first stage - even if good sample, you then need in-fill drilling (closer spacing) to gauge the extent of the deposit - takes time and more money. And there is a shortage of drillers in that area. Don't know if the area is a green-filed project. Prospective buyer will need to see in-fill results and maybe NI 43-101 also. Could be a couple of years away and unlikely to have effect on any current interested buyer. I hope they have sold the Au long before then. If not we face an ugly financing.

    • hollywoodharpo@sbcglobal.net hollywoodharpo Nov 28, 2012 2:13 PM Flag

      If the COPTER would have crashed into SLEEPING GIANT DISASTER we would rid of BIGGARS sooner and NEVER made the HUGE mistake...

    • They "fly around with a string"? Is this really bell?

      Sentiment: Hold

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