Update on Roxmark
SUBJECT: RE: shareholder meeting
Posted By: TkoZna
Post Time: 11/3/2006
Sorry for the delayed response, northernbass ... I've been
offline for a while.
The meeting was chaired by Phil Cunningham, who is always
an effective and interesting speaker.
He indicated that he would be exercising his warrants
(as he was legally able to do so, since it was after
market close), and introduced -
Monir's slide-show presentation of the visit to -
The Beardmore mine earlier in Oct.
The slide show was very impressive;
there's a LOT of infrastructure that's been built.
They (Monir & Phil) also discussed two pretty sobering
points:
1) unlike many penny mining stocks, RMKL has REVENUE!
They are engaged in contract milling and Moly mining.
2) unlike many penny mining stocks, RMKL has ASSETS!
The mill is worth between $30-40mm, depending on
whose valuation you buy.
They talked about the assay that's begun, i.e.
the 3,000 ton sample of Moly they need to gauge ore value.
They showed VERY clear pictures of where these ore beds
actually surface on the property --
it appears to be VERY rich!
They have hired yet another geologist
(what a radical concept!), and he gave a very
impressive endorsement of the ore quality/content,
both of Moly and gold.
There were around 30 people in the room.
Not many questions were asked, as everything seemed
pretty clear, and most encouraging.
One question that got kicked around a lot was re.
the planned "major exchange" listing.
Despite what the idiot who calls himself analizer15
on this bullboard keeps trying to flog,
Phil made it VERY clear that they are not allowed
to publicly discuss any planned listing change until
it is more concrete.
However, they made it equally clear, in not completely
denying the rumour, that there is something in the works.
And one of the attendees let it slip, over drinks,
after the formal meeting had ended, that it is
"such a difficult task putting paperwork together
for the TSX" ...
so, without being specific, he sure was CLEAR!
Hearing of Phil's planned (and now historical)
warrant exercise was one of the more significant
bits of news for me.
I think RMKL is definitely on the way to reality,
and I'm in, BIG.
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