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Message: Analysis of 2006 hearing

Re: Analysis of 2006 hearing...Sharesplit...

posted on Nov 07, 2007 09:26AM

Thanks for the in depth analysis of the litigation re: the Mary March property. While I was aware of most of the facts you covered, other investors may not have been. Also, I did learn one new fact from you, that could have a major impact on the outcome. To wit, the following:

"even if Vinland were to somehow prove that the land was not surveyed in 1905, and thus, was open for staking, during the hearing something called "adverse possession." What adverse possession means is that because Phelps-Dodge had been exploring under the pretense of rights ownership, then it is the rightful owner if it is determined that there was no owner at the time of exploration. The exploration was pre-Vinland trying to sneak away land time, so there you go - another strong argument, cause that argument has won in proceedings in the past"

I was not aware of that argument. It adds even more to my comfort level about the EVENTUAL resolution of the case. My only concern at this point is how much longer Vinland can draw out this fiasco. Hopefully, assuming a positive judgement, the judge can word his ruling in such a way as to preclude further legal wrangling by Vinland.

I am in this stock strictly because of the MM property. McFaulds Lake may or may not prove to be worthwhile but MM has, I believe, tremendous potential if we can get past these court challenges and start a drilling program.

Regards, Muffles

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