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Experts Commenting on This Company
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Midland Exploration Inc.TICKER: MD:TSX.V
Midland Exploration is a dynamic and aggressive mineral exploration company focused on gold, base metals and REE mine discoveries in one of Canada's richest mining provinces, Quebec. The company is led by highly respected management and technical teams with a proven mine-finding track record. Midland intends to generate new attractive projects and seeks opportunities through industry partnerships (JV Model). |
The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.
Expert Analysis
The Gold Report Interview with Adrian Day (11/16/11) "We picked some shares of Midland Exploration Inc. up in the low $1.30s/share a few weeks ago, and you can still get it in the low- to mid-$1.40s/share. That stock was $1.90/share earlier in the year. But, more importantly from where the stock price was, it's a game. The company has some $4.5M in cash, which is small, but all of its properties are joint-ventured out, and it has an extremely low burn rate. It won't need to raise money this year or next year—and certainly not on arduous terms."
The Gold Report Interview with Eric Lemieux
(7/25/11)
"I always like to say that Midland Exploration Inc. is like a smaller version of Virginia in that it has the same sort of quality management and the same sort of exploration business model. Midland also eventually farms out projects to quality partners. In the course of 2010-2011, it acquired new projects by staking. I always appreciate the fact that a company is able to acquire projects by itself. . .I believe it is good when you can do a thorough geological assessment of an area, pinpoint areas that haven't been staked, then go and get them for cheap. . .I think it's very positive that Midland can generate and acquire projects relatively inexpensively.
Midland is active on several fronts—gold, base metals, rare earths. It is exploring for gold with Osisko Mining, Aurizon Mines, North American Palladium and Agnico-Eagle Mines. So, we can expect lots of news as projects are drilled. Midland just announced a gold and nickel discovery on the Laflamme property, which is a partnership with North American Palladium. Midland also has a project called Casault, which is east of Detour Lake on the Quebec side. It's an area that I think will become a hot spot because of the size of the Detour deposit and the focus on possible satellite deposits. . .The key words for Midland are diversification, partnerships and exploration."
The Gold Report Interview with Adrian Day
(5/6/11)
TGR: Another prospect generator that you've said you like is Midland Exploration Inc.
AD: Yes, we hold 5% in Midland—one of my favorite companies. It's a smaller company with a market cap. The CEO, Gino Roger, runs the company in a very methodical manner without spending a lot of money. Midland has about US$5M on the balance sheet. . .and two gold ventures with Agnico-Eagle.
Adrian Day, Global Analyst
(3/23/11)
"Midland Exploration has been one of our top exploration companies since we first recommended it at the end of 2008 at $0.44. It remains a buy, given its thin trading, but you should avoid driving up the price by your own buying.
Midland follows the prospect-generator model in Quebec and continues to add properties and new joint ventures, as well as boost exploration plans. A recent, new JV was the option of a gold property (Patris) to Aurizon, which must spend $3M in exploration to earn in to the property. This will be a very active season for Midland.
Using other people's money to maintain strong balance sheet—for a company the size of Midland ($44M market cap), this represents a very full dance card with multiple opportunities for ongoing success. The company is well financed, with $4.8M in cash, sufficient for current programs (following a year of no dilution). All in all, Midland is well financed, has multiple projects with a very active exploration program and continues to execute on a its well-thought-out business plan in a methodical and disciplined manner."
