Hi again Robert.....
You might want to give MIQ a call..... They should be able to give you the info you need.
I think Brandon wrote this before the Kinross JV and maybe even before the 4 newest gold discoveries, but it might help you with your "speculative play" :-)
Title MIQ on Montreal, My Junior Gold Pick
UserID stokks
Posted
on 09/17/98 at 22:32:26
Hi Bill,
Per your e-mail request here is the information you wanted me to
post on SI regarding my pick for a future Junior Mining winner and
the research done on it. I hope it leads to some profits for all!!
-----
Brandon, That is too good to be hidden away. Could you post it as
a thread instead of just a posting at the cafe? I don't think you
will have to deal with much. Just hit it up again. Unless you
prefer not to. That is fine. I just would like to see it have some
exposure, that it deserves. I will be referring to it in the
future.
Thanks,
Bill
--
Hi Bill, As I mentioned on the SI thread, here is my pick for a
Junior which I think will do outstanding with continued good
results and a sharp increase in the POG. The company is MIQ
(Mirandor Explorations) on Montreal. First if you'll allow me to
tell you a brief story which will put into context the reason I
now hold a substantial position in this little company. Back in
the mid-80's I got into Barrick gold early and made a killing,
basically I was in when it was meare pennies. I swore if I was
ever to find another story like that of Barrick I would again hold
a substantial position in the company, but it had to have a
similar property. Over the years I have made some exceptional
money in the Junior golds, but it is MIQ that has me very excited
about what they may do in the months to come. My research into MIQ
lead me to Peter Munk's biography where I picked up the following
information along with my own investment horizon in the mid-80's:
Presently MIQ's story is similar to that of Barrick Gold when it
first started it's project in the Carlin Trend (in term's of
location and composition of the property). This is due to location
of the property in the Carlin and the location of a Carlin "GOLD
WINDOW" on the property. Anyhow, back in 1983 Barrick was an oil
exploration company. Barrick didn't even own their Goldstrike
property (in the Carlin Trend) in 1983, they were still looking
for oil under the name of Barrick Explorations. In fact, it wasn't
until 1986 that Barrick got involved in negotiating for the rights
to the 6900 acres of Goldstrike. At the time Newmont was sitting
on 250,000 acres in eastern Nevada, much of it with promising gold
deposits. It had enough to keep it busy for many years to come, so
going after Goldstrike wouldn't make much of a difference, so they
thought at the time. They felt that the geophysical makeup
wouldn't allow for an economic find and at the time they knew the
area better than anyone else. At the time of negotiations,
Barrick, or rather Munk did not want part ownership of Goldstrike.
The two owners were Western States and Pan Cana and he got both of
them to sell their shares to him. The deal actually closed on
December 31, 1986. It was considered a small gold mine at the time
and difficult to unload overall. While in the hands of it's
pre-Barrick owners they did drill one hole down to 391 feet and
found high-grade ore, indicating significant reserves. However,
the reserves were all refractory ore, which was at the time
extremely difficult to extract. In fact the funny part is one of
the owner's of Goldstrike, had to make a choice to either sell a
horse farm in southern Kentucky or the Goldstrike mine (can you
say ooops).
When Barrick initially started looking at the property a guy by
the name of Smith, who was with Barrick, went down to Elko,
Nevada, to take a look at the property. They found that the
operators were not exploiting the orebody to maximum advantage.
Smith and his team were confident that by spending a little money
and using a variety of recover methods, they could increase the
recoverable reserves to 1.2 million ounces. This is when they
decided to buy it. This is where it gets interesting, while they
were checking the property after the December 31, 1986 purchase of
Goldstrike, when Smith and the crew were up there, Brian Meikle
had stood at the lip of the open pit one day and said to his
colleagues, "You know, we've got Genesis a few miles to the south
(3 million to 4 million ounces of reserves owned by Newmont),
we've got Bootstrap and Dee a few more miles to the north-west,
that's another 2 million ounces, and there's all these little
small pits, scattered all over the place. I wonder if all these
pits represent a leakage from something major, at depth." No one
took it any further, but they all knew it was a possibility.
The reason I say this is interesting is that it seem's the
situation on MIQ's Railroad project is similar to what happened at
Barrick. With gold having been proven all over the Railroad
project, including, Elliot High Ranch/LT
East/Darkstar/DikeSwarm/POD/Bunker Hill etc. It appears that MIQ
is doing the same thing. They are putting together strong shallow
results for an open pit mine leading to a a leakage which could be
Posting something major, deeper down???? Just speculation on my part, but
I have inquired with my geologist contacts and there is nothing
else that would make sense otherwise.
Anyway back to the story, a couple of months into 1987 and Brian
Meikle called Smith telling him the core from their first
exploratory drill hole was showing 0.36 ounces per ton for a depth
of 330 feet. At first they actually thought someone had salted the
core, that it was too good to be true. They immediately drilled a
hole 10 feet away. They didn't even tell Munk. Meikle did the
drilling and got even better results. Other holes were ordered
drilled further and further away and gradually it dawned on them
that the orebody was just what Meikle had speculated it might
be...a massive gold-bearing deposit deep underground that spread
its tentacles all around the area. Jackpot! Basically, that's the
story of Barrick's find in the Carlin Trend. After adjusting for
stock splits , Barrick's shares rose from $1.90 at the end of 1986
to $5.20 a year later, then $10.87 three years later, and $15.50
two years after that, in December 1992. Then in 1993, it almost
doubled to $28.50 (note: Barrick split 2 for 1 three times in
1987, 1989 and 1992) and the rest is history. Anyway thought you
might like to here some facts of Barrick's find, since it has been
mentioned with RELATION TO MIQ. Note the first drill hole, .36 opt
at 330 feet.
Well Bill, that was a nice story and I wish they could all turn
out like that. However, it appear's to me that MIQ is the closest
to mirroring this Barrick story and here's why. Keeping in mind
the above events for Barrick Gold, the following points now relate
to MIQ.
1) MIQ's Railroad Project is about 30 miles southeast of
Goldstrike. MIQ has the second largest gold window in the Carlin
Trend located on it's property. The largest is Barrick's
Goldstrike property with 26 million+ ounces and the third largest
it Newmont's propety with 10 million+ ounces. A gold window is an
anomoly where platlettes have been pushed up within the earth and
mineralization is evident at shallower depths.
2) MIQ has already hit gold reading in 6 zones POD/Bunker Hill/LT
East/EHR/Darkstar, plus there are still a number of wildcat
deposits. The results are fantastic, you can see them at their
website www.mirandor.com. It appears as if there are tentacles
spreading all over the property. The strongest results are from
the POD zone and the newly encountered Bunker Hill zone, with
continued drilling to come from both of these this year.
3) During the depths of the gold market in Nov/Dec of 1997.,
Kinross Gold agressively sought out MIQ and signed a JV deal with
MIQ. Providing a minimum of $17 million US over the next 4 years,
to develop the property. MIQ had 6 other interested parties, but
decided to go with Kinross since they would not shelve the project
and results are now beginning to come out for this years drilling.
4) Their primary targets are POD and Bunker Hill, both sit on the
Carlin Trend Axis (where there are numerous gold deposits
throughout). In addition, these two zones are intersected North-
South by the Pinon-Anticlie axis which also has great gold
deposits throughout. As a mining professional friend of mine
said,"mother nature doesn't put gold in just one spot and goes
away. The fact that they are locating many zone with stunning
grades, makes for some potential fireworks to come."
5) MIQ outbid numerous major's for the property and paid
approximetly $2 million for it.
6) The Railroad project is I believe historically knows as the
"Circle of Death"., essentially because there have been a lot of
players interested in it, but no one has been able to put the
project together. According to my sources and rock hounds, Kinross
is ecstatic over the project and in particular the POD and Bunker
Hill zones.
7) No need for much further dillution of shares since they won't
need money for drilling and are drilling now while other's are
sitting on the shelf. The only other dillution will be for
operational and promotional stuff when necessary. Management is
competent, with the President being Jim Speros at the helm and
essentially he was the one responsible for the deal with Kinross
when the Gold market was in the toilet. He's great to talk to,
give him a call if you wish. I'm looking forward to seeing his
selling ability in a good gold market, instead of the bear trap
we've been in to date.
Anyhow Bill, thanks for indulging my rambling. I hope this is some
payback with all the valuable information you have provided.
Remember check out their web site for results (www.mirandor.com)
and if you want to speak to Jim Speros, I can provide you with his
number.
Great calls last week on Gold! Keep it up! Thanks... Brandon
MIQ on Montreal, My Junior Gold
Pick Posted by stokks on 09/17/98 at 22:32:26
Dr. Woody Posted by stokks on 09/24/98 at 00:05:32
Hunt & Peck..... Posted by jocko on 11/08/98 at 13:06:28
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