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monthly market letter issued by Ice Cap Asset Management for the month of October
fwiw, interesting weekend reading :
This report is actually a pretty good good summary of Mega Precious Metals and it's ongoing projects & prospects to date:
http://inflation.us/NIA_MGP_Report.pdf
The only thing I might find questionable about this particular report is the independent source ( not Mega, the company), that issued it and their possible motivations for issuing it ? See my previous regarding the NIA
Just a note of caution, Regarding Mega Precious Metals, it seems that the independent partial /teaser "report" on Mega issued last week 7/4/11with a larger follow up report this week as issued by the NIA ( National Inflation Association) may have some questionable motivation behind it. Note here:
http://caps.fool.com/blogs/national-inflation-association/596316
Also note that as a Mega shareholder, I don't believe Mega has any connection with the NIA. At least I hope not!
Looks like possible significant, positive developments for both companies in the near future?
1) Simba Energy SMB applied to the Liberian government last October to have their current exploration/prospecting license converted into an oil PSA , or production sharing agreement. Up until yesterday there had been no or little news of this effort for several months. Yesterday the company announced that they will be meeting with NOCAL ,the Liberian government energy licensing arm to enter into direct discussions beginning , I believe, on July 18. I take this as a very positive development although the stock price does not yet show it. Just my humble opinion is all
2) A very positive report was issued today covering Mega Precious Metals MGP placing a valuation opinion that the company may be worth up tp $ 1.74 / per share The shares currently trade in the $.60 range. This opinion is based upon a revised - upward resource calculation on their Monument Bay Project, a couple hundred miles due North of Rice Lake. Also, there is a reasonable possibility that before the end of this summer, there maybe forthcoming news on Mega's Headway/ Red Lake Project where the company has for several months now been drilling some extroardinarily deep exploration holes in an effort to prove up an extension onto Mega property of the very deep Goldcorp high grade zone.
Interesting. Anyone care to speculate on the reason for this?