Highly prospective exploration company

Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.

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Message: Justice,you're right

Magpie - owned or not?

posted on Oct 27, 2008 09:55AM

Miljonair...not sure why you ask this question.

Fancamp owns 48.7% of the common shares of a private company that owns the Magpie property -

If you are asking about a spin out - that is what i've been pushing but management will not want to do anything until a plan of action to develop/sell the property is known.

to sell the property one definitely spins out magpie and sell shares - never ever sell land inside a company and bare all that unnecessary tax - destroys shareholder value .

to raise money and develop property in of itself - also should be spun out - there will be dilution but value created on ipo.

jv property - not a big rush but to unlock value one has to ipo it. and i vote for spin out.

when ? hopefully sooner rather than later.... keep pushing peter for info.









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