Moydow Mines fka MOY

[amarksp]

Michael:

Any comments on this?:

Guess it is conceivable that MOY can prove up some reserves at True Grit in the very near future?? If so, and given MOY's $800K commitment, then MOY would still qualify for TSE listing??? That is, greater than C$750K required per:
http://www.tse-cdnx.com/en/pdf/TSXMiningRequirements.pdf

"In February, 2003 the Company signed an agreement with Cornerstone Capital Resources Inc. (“Cornerstone”), whereby the Company has the option to acquire a 51% interest in a group of claims located in south-central Newfoundland owned by Cornerstone. The Company is required to incur exploration expenditures on these claims of not less than Cdn$800,000 on or before February 2007 in order to earn a 51% interest in these properties."

Also, it would seem reasonable for TSE to allow at least 3 months, and maybe until next annual filing?, before the TSE would determine that MOY no longer qualifies for TSE listing? It would seem unreasonable for TSE to disqualify MOY on the first day after the assumed NEM distribution, wouldn't it??

A few months added time may allow MOY to complete a 43-101 independent report on the True Grit reserve??:

7/12/03
"As well, there’s True Grit, an 89-square-kilometre patch of land north of Hermitage Bay. There, Cornerstone has identified two gold targets and is partnered with Dublin-based Moydow Mines International.

The pair have just finished drilling and are awaiting assay results. One bulk tonnage gold target could be extracted via open-pit mining, which keeps the cost down.

“The grade is lower, but it’s a big project,” said McKay. “We don’t need spectacular grades on that project.”

He says True Grit could have more potential than the Botwood Basin, a 4,000-square-kilometre chunk of land in central Newfoundland that has been likened to the gold-rich Carlin basin in Nevada."

http://www.crigold.com/joint07.pdf

Hopefully, TSE would give them some time to complete the 43-101 independent report before yanking their listing?