Gold miner signs agreement with First Nation groups

7/18/2008 2:10:29 PM | Buzz on the Boards

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Lake Shore Gold moves forward with relations in northern Ontario.

Lake Shore Gold Corp. (TSX: T.LSG, Stock Forum) today announced that the company has signed an Exploration Agreement with the Flying Post First Nation (FPFN) and Mattagami First Nation (MFN). The agreement works to promote “a cooperative and mutually respectful relationship” between the FPFN and MFN and the company as Lake Shore moves forward with exploration work on the Timmins West property. More from the news release: “The agreement establishes a framework for ongoing dialogue and consultation between the parties, including providing business, employment and training opportunities for members of the two First Nations groups.”

Chief Walter Naveau of MFN said, “This agreement is another stepping stone in our development as First Nation people. This is an historic period for my people as we are finally able to work with mining companies in a way that benefits us.”

Yesterday on the Lake Shore Bullboard, Stockhouse investor willbrich asked a question of another investor after that member said that he or she had bought the stock: “Hi Riddler1, Can I ask what made you choose LSG? And more importantly, why now? Thanks, Will.”

In response, Riddler1 offered:

two reasons.....i know people who work thier. I'm a miner and thus I hear a lot of talk.....I've been watching it for about a year now and from what Im hearing there is a lot of gold there....2nd,..the shaft is being suck, the head frame is there and lastly, they bought a mill and have built it on site...THUS...I bought in...It could go lower and Im fine with that...I decided not to wait just incase this is near the bottom...But if it goes under a buck, thats fine.I won't stay there long......this baby is time IMO...... Good luck!!!!!!!!

sorry about the spelling [sic]

Well, you don’t have to be a good speller to pick a good stock, that’s for sure – and if what Riddler1 says is true, about being a miner, then perhaps it’s worth overlooking a few typos.

Lake Shore is a thinly traded issue with an average of around 200,000 shares changing hands in a day. The stock is down almost two-and-a-half percent in afternoon trading today.

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