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Message: Seeking Vikings

Seeking Vikings

posted on Jan 07, 2010 02:09PM

Well, this room is still basically empty. HOwever, if you are a lurker who has popped in here, please indicate your presence some how.


Just FYI, I'm starting my exploration of Vking by doing the following:

1. Analyzing their SEDAR filings to seek info on ownership of claims, major shareholders, cost control, and cost of drilling per metre.

2. I plan to come up with a better map showing their holdings and the deals they have on other's holdings, as they seem to have two key exploration sites in the Yelllowkinfe Gold Camp which they are earning a 60% stake in through exploration. I want to map this out in the context of Tyhee's holdings, as one aspect of Viking I like is that they appear to have large holdings covering the spaces between Tyhee's Clan Lake, Goodwin Lake and Ormsby zones. I understand from Tyhee that these claims have been explored to some extent in the past, and that Tyhee holds the most prospective claims in the area. However, my view is that there is a lot of land here, and exploration may prove that some good deposits may lie in the Viking areas. That's a lot of exploration to do, with very little money. But things change quicly when money starts to flow into gold juniors, and all vikign needs is one or two good drill results to indicate the prospect of a discovery, and then more money can flow into their exploration budges. The key, in my view, is to know their properties better, and the exporation history of them.

3. I've been trying to get in touch the the Vikign CEO. I'm not going to pay for a long distance phone call, but rather, I've had my contact info sent to another of his addresses, as the one at the Viking site is full. Not surprising, as Viking was clearly in cash conservation mode. For all I know, the CEO is serving coffee at Tim Hortons some place in southern Ontario, saving op cash to be able to pay his way to Yellowknife this Feb / March to oversee this year's modest drilling program. What I am sure of, howver, is that Mr. Ginn had invested lots of his own cash into this, and has not given up. HE had been tenuous through a very tough time, and lots of people counting Viking down (including me), and seems to be coming through it intact. So once I get in touch with him, I'll try to arrange to meet with him with a very carefully researched series of questions. and feel him out, to see if he as much of a quality gentleman as Dave Webb seems to think he is. So much depends on the people we are investing in. So far, I am optimitistic.

4. My last are of research will be on the companies that Viking has those deals with. One appears to have gone bankrupt, and had to set up a new spin off to calve off the yellowknife resrouces from some in another part of the world, which went to the creditors (not of Viking, but of that other company, Lakota, I think). It will be very instrucctrive to knwo the status of the companies acutally holding those two more prospective claims.

5. So that will all take a few weeks, or months. I don't expect much to happen in the mean time. Except that the increased share price activity (only about 10% has been me buying Viking shares) over the last few weeks seems to indicate that others are looking at Viking.

My share price target for the next 3 months is 8 cents, but 12 cents by end year. THis is based on some preliminary observations I have made of their share offerings history, and the break-up value of a TSX-Venure listed company (a listing), and a bit of value in their exploration properties. This won't be a 5-bagger (30 cents) for a few years, but could surprise at any time, as long as they remain a viable exploration play with the occasional drill in the ground.

SKELEG

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Jan 08, 2010 07:06AM
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Jan 08, 2010 04:25PM

Jan 08, 2010 06:09PM
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