It appears, on paper the JV has punted on land values and in effect become realestate salesmen in the process. Sell a few here, a few there and keeping an small interest if there are gold in them thar hills.
The smaller scattered parcels I can see sold off in a similar manner in the near future depending on positive results from surrounding leases. It has always been about a land punt and riding on some other entities exploration expenditure. Smart move?? - could pan out they way or atleast reduce risk dramatically and see a guaranteed initial return.
In comparing individually held leases, MKE has Provost which they appear to be hell bent on prooving up a tad more and then selling it off. TSV has Calgary that they appear to be hell bent on prooving up and having a longterm cash cow for future exploration expenditure. The longterm direction with MKE appears a bit less clear what direction they truly want for the future other than being cash flow positive from land sales.
What none of us (well me and a few other unsoph punters/mates) truly anticipated was the total lack of market support from the sale/farm out of Duverney and Rock Creek parcels. I considered a movement north of 20 cents and we have had a pull back to 10 - definately not in the plan but for me, as with TSV, a longterm play that I am sure will have other frustrations along the way especially if I continue to have difficulty in understanding managements longterm play. I actually thought we would be a little further down the track than still meandering down the hope and a prayer trail.
All just my opinion - DYOR!!
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