Hoov

Now you know why I don't use a store bought operating system. If you are doing a re-install then why not try Ubuntu

www.ubuntu.com

THis might be loosely related. If can be found here:

http://www.world-nuclear.org/info/inf75.html

The point is that any large mining company wants these resources in their pocket and under their control.

Quote:

"From an economic perspective, these exploration costs are essentially equivalent to capital investment costs, albeit spread over a longer time period. It is, however, this time lag between the exploration expense and the start of production that confounds attempts to analyse exploration economics using strict discounted cash flow methods. The positive cash flows from production occur at least 10-15 years into the future, so that their present values are obviously greatly reduced, especially if one treats the present as the start of exploration. This creates a paradox, since large resource companies must place a real value on simply surviving and being profitable for many decades into the future; and, without exploration discoveries, all mining companies must expire with their reserves. Recent advances in the use of real options and similar methods are providing new ways to understand this apparent paradox. A key insight is that time, rather than destroying value through discounting, actually adds to the option value, as does the potential of price volatility. Under this perspective, resource companies create value by obtaining future resources which can be exploited optimally under a range of possible economic conditions. Techniques such as these are beginning to add analytical support to what have always been intuitive understandings by resource company leaders - that successful exploration creates profitable mines and adds value to company shares.

If Mantis is in default then an "arrangement" is possible. The thing is how does anyone benefit from a dog fight.

We are all in the same game. I spoke with the pres in about July. He did say he wanted to drill elsewhere. The truth is all juniors are kissing our tea bags and offering the ten bags. If Mantis had (past tense) a better project then if I were in Palmer's shoes I'd be asking for some of it and shelve the Tamarack project for a while. Its at least 2.7 billion years old so we can assume it might hang around for a while.

I will look forward to hear the press releases.

off topic!

Since we have already looked at our first (1st fight then now is the time to organize for #2)

I doubt there was a general in wwII who went into
battle with his eyes closed

If the word is we form our own investment bank then lets do it. I imagine Matt Simmonds started this way. Maybe next time if Pinetree is still willing to walk to the table (and a few others) and they want to shoot some pool, then we will show them what the retail side can do!

We really need to do some economics on Magpie.

1) TiO2 is very common. Physical processes separate this stuff and in many parts of the world one can basically go in with a barge and separate the heavy sand from lighter sand and there you go. I'm not going into details because the important thing is not about a snow job. The thing is we need to know $dollars per ton and what the competition does and how much they have.

What I have so far seem to have found is that 80% TiO2 and better, already processed and in bags FOB piers in say Australia is worth between $550 and $700 per metric ton between 2006 and the end of 2007. Source - USGS summary. Please verify.

2) CR is NOT GOOD. A different paper which I lost seemed to talk about special processes needed to remove the chrome down to 0.4%.

3) The grades we are looking at seem to tell me we may have an iron mine. In contrast I tried to look at the labrador Iron Mines LTD. and Iron Ore Company of Canada.

Lim website: Labrador Iron Mines: Labradorironmines.ca

IOCC website: Iron Ore Company of Canada: ironore.ca

BTW. the Agroacom parsing of this is broekn and shows shear incompetence. A good example is I have to write the HTML here but in a private message to Old Joe I can't. Old Joe will be laughing so hard! Also BTW Iron Ore's website is well on the way of being borken.
But this is not my issue. If anyone cares I posted my shingle years ago and I do charge for repairs and advice in how to avoid these blunders.

I have not been able to find the information relating to ore specifics. There was a nice picture on the front of IOCC's 2007 annual report and it looks like the trucks are hauling Hematite.

One issue I note is that IOCC says they have at least 25 years and possible more than 40 years supply.

If Magpie is going to become a mine then economics are required and investment is required after that. I don't know if this proves positive in either area.

One thing that I am struck by are announcements coming from the oil patch. More projects are being shelved and delayed. People can find a weekly summary written by Tom Whipple here: Association for the Study of Peak Oil: www.aspo-usa.com (upper right hand side: PDF)

Issue is if the capital is not available for oil projects with oil just recently coming off record highs... then consider some things. We have had scares in the past which were political and sometimes the weather gives us jitters. ASPO is talking about geology and apparently Geology doesn't give us jitters however the religion (small "r") we call economics does make us quake in our shoes (well - most of us).

We can't do anything about the geology folks. While we are shutting down energy projects we need to accept that if the projections of the petroleum geologists behind ASPO for instance are correct, then just a few years down the road we get at least a triple whammy:

a) major fields in decline all over the place.

b) capital expenditures were chopped in 2008.

c) years of warnings have been and are being ignored.

The experts I know have been saying we need to move at break neck speed into synthetics at least 10 years before we reach peak oil production.

I figure we are blowing our grace period.

Yet the thing is that if capital isn't available for Suncor then what of McFauld's lake?

What of Magpie?

If any of the link I posted do not work then its not my fault. I put them in correctly and had to triple check. The guess who parser is not working folks! The fixes are rather easy. Well - good thing is the damage is just a minor embarrassment and all people will need to do is cut and paste.

Please go to our website: www.onon.org

We are the biggest running club in the world. (hint hint)

Follow our links to Saudi Arabia and there will be lots of contact information (probably). Tell them Tiny Bubbles is an investor and he's worried. Tell them King Shit is the web master! ha.

Use whatever whitt you can find.

Someone over there will know who to contact and how.

Next... lets see you guys on a run regardless what shape you are in. We run in pretty much every city in the world.

Come have a beer and maybe lets plan a run at McFauld's lake. Hashers like mud.

TB

Having now spoken with my very trading experienced buddy who actually does understand Quantum Mechanics and has a margin account... and this is consistent with Tgarfield's take....

Apparently tgarfeild has the right idea.

Scenario:

Jim, Rob, and Jerry.

Jim buys 100,000 shares. Rob short sells Jim's shares. Jerry buys Jim's shares.

Proxy vote comes up and Jim and Jerry both want to vote. We need 200,000 votes and only 100,000 votes are available. How do they handle the ka ka.

Answer:

This doesn't come up often so the brokerage sends the proxy to either Jim or Jerry and maybe flips a coin and hopes for the best. If someone bitches then stonewall. Its in the agreement. Gawd waterhouse tried to stonewall me today. It didn't work.

Seems the answer is that either Jim or Jerry has to call and demand his right to vote which will trigger a margin call and probably other stuff as well... but as tgarfield points out... its already covered in the agreement and probably legally said client will NOT have a leg to stand on.

Sorry, you thought you owned the shares but you don't. Next time don't use a margin account.

Small consolation eh? Maybe this is why lawyering is a profession.

comments please!