Map Staking May Not Be The Answer – Gregory Reynolds

Gregory Reynolds - Timmins ColumnistThe Ontario government appears to be boxing itself in when it comes to the issue of map staking.

While large Canadian mining companies and some bureaucrats in the Ministry of Northern Development and Mines (MNDM) favour map staking over the traditional method of acquiring Crown land with the possibility of a mineral resource, prospectors and most small mining companies are opposed.

Actually going into the wilderness and physically walking the boundary of a mining claim, known as ground staking, generates a great deal of wealth for several sectors of the economy.

On the other hand, under map staking, a company or an individual can sit at a computer and pick out the land desired. Upon paying the ministry its fees, the company or the prospector has acquired temporary title to the land.

It must be noted under map staking, a company in Russia or a geologist in South Africa would be able to stake several hundred, or even several thousand, claims if the bill could be paid over the internet.

While the province is considering map staking for south of the French River and the debate over its value has raged over that point, there is another aspect to the situation.

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Gold Prices May Not Have Silver Lining – Gregory Reynolds

Gregory Reynolds - Timmins ColumnistThe long awaited – and predicted – push by the price of gold through the US$1000 an ounce barrier has occurred.

There is jubilation in the hearts of the gold bugs of the world, those faithful who attend conferences year-after-year to hear the word from on high: gold is the only asset to hold.

That the wait between gold’s previous record high in 1980 at US$850 an ounce to the March 13 break through was 27 years is being ignored.

The gold mining industry, especially in Canada, has reason to be happy but there is a need to look past the event and to ask why it happened.

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New PDAC President Jon G. Baird – A Profile

PDAC Presidents traditionally serve two years. Outgoing President Patricia Dillon will be relinquishing her position to Jon G. Baird, a Canadian-born engineer who graduated in geophysics from the University of Toronto in 1964. His business career has spanned 28 years with Scintrex Limited, a Toronto based consultant and manufacturer of instrumentation used in mineral exploration …

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FNX Mining – Sudbury Basin Success (Part Two) – Stan Sudol

Underground at McCreedy West - FNX Photo“We had the pick of the geologists’ crop in the depressed mining sector of 2002 and subsequently built one of the country’s biggest, youngest and most innovative exploration teams,” continues MacGibbon. “And with all that historical data, our fantastic computer- literate staff played a key role in helping us decide where to drill.”

Right from the beginning, this junior’s exploration mindset was on steroids. From 2002 to 2007 FNX will have spent more than $100 million on exploring its properties in the Sudbury Basin.

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FNX Mining- Sudbury Basin Success (Part One) – Stan Sudol

Terry MacGibbon, Executive Chair, FNX Mining Company Ltd. - FNX Photo“Our company has a strategic position in the trillion-dollar Sudbury Basin which by far, is the richest mining district in North America,” observes Terry MacGibbon, executive chair of FNX Mining Company Inc. “With China’s and eventually India’s voracious hunger for metals, expected to last for decades, the long-term growth and future of our company on solid ground.”

MacGibbon’s dedication to the region is proudly on display in the front lobby of the company’s University Ave. head office – adjacent to Toronto’s high-rise financial core where many of the country’s top mining analysts and investors work – with a bold eight-by-four sculpted wall hanging in the shape of the famous Sudbury Basin.

“Most Canadians don’t realize the Sudbury Basin is a global ‘metallic super power’ and that there are many incredibly rich mineral deposits still to be discovered here. This 120 year old mining camp will be producing nickel, copper and platinum for at least another century if not more,” he said.

With two operating mines on the north range of the Sudbury Basin, another mine ready for production in 2008 and two other promising deposits in the district, many have overlooked the phenomenal growth of FNX Mining.

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