Hi Tide,
You're right. Nothing to get too excited about re: that release. They do have several good properties and a few of them can give this stock a lift.
They have good property, along strike and adjacent Falco property in the Raglan. The Raglan in N. Quebec is much better than Voisey Bay and is already in production.
If the price of gold ever cooperates, Kinross will give the go ahead to its Timmins project at Hoyle Pond and that will impact upon THS.
Finally, look at Foran Mining (V.FOM)
On Wednesday, January 21, 1998, Foran Mining put out a press release concerning their properties. Peter Grandich is fairly high on FOM and
the stock currently trades over $2.00.
The following are extracts from that release:
"The Thompson Bay claims are within a few kilometres of the recent Aur Resources/Thunderwood discovery in an area where Formation Capital is also active."
" The Thompson Bay property is located 16 km southeast of Flin Flon and is believed to contain favourable stratigraphy to host a copper/zinc massive sulphide deposit. At least one large VMS
alteration zone, with associate mineralization is known. This zone which has a minimum strike length of 900 m remains open in both strike directions and at depth. In addition, three separate untested
airborne anomalies on the Western portion of the Thompson Bay property have been recently discovered using a new deep airborne EM system."
" The Morton Lake property is located 25 miles west of the town of Snow Lake, also within the Flin Flon Greenstone belt 14 km north of the Company's recent Reed Lake acquisition and adjacent to the
Company's Sewell Lake property. The Flin Flon belt is a prolific proterozoic volcanic hosted massive sulphide district which has produced over 160 million tonnes of copper/zinc ore in 24 deposits. While the Morton Lake property has been subject to previous drilling and geophysical surveys prior to 1970, modern exploration techniques have not been applied in the last 25 years. The EM conductors drilled
to date can, for the most part, be classified as sulphide iron formations with some appearing to have associated VMS type alteration with anomalous values of copper, zinc, silver and gold. The Morton
Lake property is believed to contain at least 3 folded and thrusted repetitions of the Dickston Mine horizon which lies 300 m east of the property. On the property areas of intense alteration with anomalous values of up to 1.3% copper, 0.92% zinc and 7 gms/t silver have been found on gossans located 700 m west of the Dickstone Mine."
"Foran believes that it is rapidly assembling one of the largest and most strategically located land positions in one of the most prolific and mining-friendly jurisdictions in the world"
So, the release isn't as good as I had hoped but there is a bid for almost 170,000 shares at $0.14 and the same being offered at $0.15.
Foran has been promoted recently on StockHouse and by Peter Grandich and the stock is at $2.10 with nothing more than a promise and a plan of work in a prospective area of Manitoba. THS has several good properties in the same area as Foran. They've drilled these properties and obtained good results todate. There is an excellent chance that they will be partners in a producing mine in Timmins with Kinross Gold. For all this - not to mention Raglan - the stock is still selling for $0.14.
By all means, if this will rally it might be wise to cash out. On the other hand, when this bear market in junior E/D companies finally comes to an end, THS should be one of the first to benefit.
At $0.14 can it really get much lower? This is especially when the company has such a close connection to Aur resources - whose directors share a common bond with those of THS?
At these levels, it has to be a buy.
Brian |
