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Gold/Mining/Energy : Mountain Lake Resources Ltd ( MOA) VSE
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To: Peter Bourgeois who wrote (212)12/3/1997 2:13:00 PM
From: Peter H.  Read Replies (1) of 598
 
Saying the market is not impressed is probably an understatement! Only six thousand shares traded last time I looked!

I think this deal is not very impressive on the surface but face it the results of only two holes is not going to thrill the world. However there are a few things that are quite good about this.

1. By having Noranda in on the project it brings credibility. When investors see Noranda in there they are more likely to shell out -- I would say PP last friday is a direct result of this, possibly more to come.

2. Noranda has put some money in and don't underestimate their technical expertise in the Bathurst area. They know the area very well.

3. The Maliseet Property is less than 20 km from the Heath Steele Mine. If they find even a small deposit with good grades they can transport the ore to Heath for milling -- don't have to build a facility. Profit without huge overhead.

4. I have heard that as part of this deal Noranda is going to talk it up to brokers. Getting info from Noranda is better than getting it from yet another junior mining company.

All in all it would have been better to see Noranda pay for all this drilling for a 51% partnership but at least this way Allen Sheito is in charge, after all he found the zone in the first place!

You're right I think we'll make some money on this but have to keep waiting.

By the way ANYONE IN VANCOUVER. ANNUAL GENERAL MEETING IS ON FRIDAY CAN YOU GO? SURE WOULD LIKE TO HAVE SOMEONE ASK SOME QUESTIONS AND REPORT BACK TO US!!!

Regards...Peter
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