Re: Expectations on release of Micon

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The company is exploring for nickel deposits on its Langmuir property near Timmins, Ontario; for nickel-gold-copper on its Cleaver and Douglas properties; and for molybdenum and rare earth elements at recently acquired Desrosiers property.

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EB Farnum

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Re: Expectations on release of Micon

in response to

Expectations on release of Micon

minespec

posted on Nov 18, 2009 01:39PM

Minespec,

Just wondering where you got the 36M tones from? At what grade? Was it all of Langmuir or just the North Zone? I’m not really disputing your number although I think it is low. Can you explain?

As far as a 100% buyout is concerned I agree, a 100% buyout of ISM is slim. My guess would be they would spin off all of Langmuir. The other properties ISM has are not as far developed as Langmuir is so that needs to play its self out.

The Chinese is anyone’s guess. Maybe they are talking to ISM, they probably are. They are neighbors’ after all. LBE properties are generally too small to carry them forward more than 5 or 6 years so they will be looking to expand their resource base in the area.