Hello everybody,
Are we expecting Railroad exploration plans from the right source? Are we knocking on the right door? I think we are not.
FIRST clue.
When MIQ announced they are looking for additional properties (after Kinros deal was done)I posted my opinion that Kinross may be taking control over Railroad project exploration. MIQ presence at Railroad site became not essential and such resources may be used better some other place. I would not be surprised, since it is their (Kinross) money they are spending. MIQ as a junior is not in the position to dictate how 7 mil will be spent. Agreement generally spells amount and time period. Do not forget even if Kinross finds nothing worthy of a mine, after spending 7 mil US they earned their share in the project. No doubt it is in the interest of all to make the find.
If any of you attended PDA conference in Toronto you could see to what extent juniors with good properties go to get Major mining company attention. At gold price bellow $300 financing mineral exploration is a luxury of Majors.
So in a sense, investors that bought MIQ in 1997 (as I did) or prior got lucky with this great MIQ-Kinross deal. Back to analysis.
SECOND clue that make me think the show is run entirely by Kinross is in ARORA post of Mar. 15. AGORA clearly looking for information from Kinross not MIQ who they traveled with and came to meet Kinross at PDA but did not get all information they felt needed for a good post . This means even MIQ management at this point may not know detailed Kinross plans for Railroad.
THIRD clue. It is a fact that most Major mining company budgets are allocated at about this time.
This means if Kinross allocated in Jan 98 100mil for 1998 xploration, Kinross project managers from S. America, Timmins, Nevada and other regions compete with each other for bigger share at about this time of the year. (remember statement Railroad becomes #1 Kinross project). Unless all of this is decided and made official Junior MIQ will not have exploration details.
All of theese events point to source of information for the events on Railroad project shifted from MIQ boys to KINROS.
FOURTH clue. Kinross most likely does not like idea MIQ and Agora disclose events before it is official to Kinros shareholders. There goes the gag on Agora .
So this places us, MIQ shareholders, in the situation where we are looking for information at the wrong address. First hand information will be coming from Kinross and later, or hopefully at the same time will be reprinted by MIQ news channel.
In my opinion, at this point of time, it is not a question of MIQ not telling, they have nothing to tell. I suspect MIQ may suggest drill sites but the last decision on the dates and targets will come from Kinross.
Hey, I have been wrong in the past. This is something to debate on. |
