Hello John
Since I believe you are (or were in both MacDonald Mines and Mill City) I thought you might appreciate the following. This item was mentioned a few days ago in an article posted on the SUF thread. I believe the article was about activity in mining plays with PT & PD properties.
MacDonald Mines Exploration (MMP-C) has optioned the Casson Lake PGM property near Whitefish Falls in northern Ontario. To earn a 100% interest, MacDonald must make cash payments and spend $400,000 on exploration over four years. Grab samples taken along a 5,000-metre mineralized strike length returned average grades of 1.73 grams Pd-Pt-Au.
Since I believe MIY owns (last I checked) about 19% of MacDonald Mines, this news and any that follows should help a little. Nice to have three stories behind the play all in areas of public/investor focus.
Today, I note that MacDonald Mines put out the following news presumably taking advantage of industry attention at Toronto's PDAC this week.
Message 13037370
I am no mining engineer but the 1:3.5 Pt & Pd ratio with a rumored BP sample of 12g/t appears to be quite interesting. Unreported as of yet are any assays for rhenium, rhodium, ruthenium, iridium and osmium. Credits of Rhodium in particular would be very interesting considering that it trades I believe for around $2,800 US/oz. I think SUF will get about 1oz of Rhodium for every +/-50oz of Pd at its Messina mine in RSA which certainly helps bring the $/tonne value of the mill feed into a very attractive number.
I must admit, I like MIY's maintained volume and the fact that now, once the spring Yamba story passes the usual investor interest period, we will still have two developing opportunities underpinning share value and rewarding investors.
There appears to be a developing pattern to promote MIY through company activity in current sectors. This should help draw market attention throughout the year especially when one or more of our stories has something more tangible to report.
We should have news of the first of quite a number of Yamba pipe discoveries within two to three weeks, possibly preceded by news of ground geophysical target confirmation.
This play is finally gaining momentum.
Regards |
