Welcome To The Inspiration Mining HUB On AGORACOM

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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Message: Micon Report

Re: The Future

posted on Jan 08, 2010 12:59PM

It's fairly obvious who has sold and who hasn't. The related posts and their content make that very obvious in fact.

As for "deficiencies", Micon comes out with their findings and give direction after the fact. They even directed the company to do extra drilling in the end before they had finished their report.

One finding was that further drilling on two possible targets has the potential to increase tonnage 20-40 million. To look back and say there's a deficiency and that why didn't ISM spend the $6 million in 2007 or 2008 or 2009, while all the while drilling right up until the end of this year is a bit rediculous. Good question for the QP on that job. One would have to say that there may have been judgement calls that balanced what was presumed to be "sufficient exploratory drilling" against cash expenditures then but looking in the rear view mirror now with Micon recommendations after the fact is unfair.

A that point does a company stop drilling and take the goods to Micon by the way? The old crap or get off the pot motto. What drilling we did do and all the re-assays took Micon 18 months to digest and write recommendations on. Despite the little bit of direction they did get, was ISM not waiting for the results like everybody else here?

As for management, I would be looking long and hard at the QP, he's the qualified guy. How did he fare in your assessment?

"The major problem I see, is that this management team seems unqualified and disorganized."

You mention Jasper, wasn't offloading that a move to organize and focus? To concentrate on Langmuir. Care to talk about exactly where the company is at with the Jasper/Nitinat transaction?

Care to talk about the latest move to stake and claim when it comes to Cleaver, Douglas and Desrosiers? Care to talk about what may or may not be happening with respect to the First Nations talks? The Dewatering process. Environmental Studies and corresponding groundwork? The applications are numerous and scattered in many directions as the company lines up ducks. How much of that work is in their control once "filed" with the relevant areas of government etc?

Now as for the change out of all management. Calling these guys unqualified across the board might be a little over the top. The biggest example of your view is when you look at Dr. Stewart Jackson's qualifications. IMHO Dr. Stew is far more qualified than the previous QP attaching his name to the 43-101 documents as of late

Yesterday you talked about his past record and his securities violations......Can you tell me and the board what exactly Dr Jackson did wrong?

Ultimately the drill are the truth machines. how the company and its geo's put them to work is the final test. Micon or whoever goes from there.

I bet there is lots on the table to digest and prioritize before moving on and deciding the next path in the journey.

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