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Southampton Ventures SV on TSXV


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Here is a stock I really like that is near it's low. Very tightly held.

Information is from another site I belong to.

Would like to know what anyones thought are on it.

 

Southampton Receives Positive Initial Results from Horden Lake Drilling

Toronto, Canada – June 5, 2008. Southampton Ventures Inc. (TSXV: SV) (“Southampton”) is pleased to report that it has successfully completed an 18,000 metre drill program on its 95% owned Horden Lake Cu-Ni-PGE Property, located approximately 200 km northwest of Matagami, Quebec. A total of 73 holes were drilled to delineate the boundaries of the Horden Lake Cu-Ni-PGE deposit. Sulphide mineralization in the Horden Lake deposit is comprised of massive, semi-massive, and disseminated pyrrhotite, pyrite, and chalcopyrite proximal to the basal contact of the gabbro. The intention of the program is to confirm previous drill records and tonnages as well as complete an NI 43-101 compliant resource estimate of the deposit.

The Horden Lake deposit was discovered through exploration by a joint venture between Noranda Mines Ltd. and Inco Ltd. in the early to mid-1960s. That joint venture’s investigation of the property is reported to have completed 157 diamond drill holes totaling 32,229 metres by the end of 1969.

The Horden Lake deposit then became the subject of a prefeasibility study in 1993 (completed by Watts, Griffis and McOuat (“WGM”) for a subsidiary of Inco Ltd.. The WGM report estimated in situ geological reserves at 1,238,333 tonnes of probable mineralization averaging 1.91% copper (Cu), 0.40% nickel (Ni) and 4,365,428 tonnes of possible mineralization averaging 1.27% Cu and 0.38% Ni. Grade and tonnage estimates for the Horton Lake Cu-Ni deposit as described in this release are historical in nature. Southampton believes that these estimates are based on systematic drilling, sampling and assaying techniques that were appropriate at the time and are believed to be reliable and relevant. However, these estimates predate and are non-compliant with National Instrument 43-101, and as such, they should not be relied upon other than to provide an approximate estimate of the resource potential of the property.

lbs. of Cu lbs of Ni

Probable 1,238,333 tonnes 52,034,752 10,897,330

Possible 4,365,428 tonnes 121,970,058 32,653,401

Total 174,004,810 43,550,731

Assay results from holes HN0801 to HN0804 and HN0810 to HN0812 have been received by the Company and are stated in the table below:

Hole# From To Length (M) Cu (%) Ni (%) g Au/t g Pt/t g Pd/t

HN0801 151.70 154.80 3.10 1.88 0.40 0.22 0.19 0.44

HN0802 198.00 200.00 2.00 1.15 0.42 0.03 0.01 0.24

HN0802 225.00 231.00 6.00 2.03 0.42 0.05 0.03 0.16

HN0803 243.00 245.75 2.75 1.32 0.53 0.04 0.01 0.31

HN0803 250.20 253.70 3.50 1.73 0.35 0.10 0.02 0.25

HN0804 227.00 235.00 8.00 0.44 0.03 1.45 0.02 0.12

HN0804 295.00 297.00 2.00 3.41 0.19 1.43 0.00 0.29

 

Hole# From To Length (M) Cu (%) Ni (%) g Au/t g Pt/t g Pd/t

HN0810 156.50 160.00 3.50 1.63 0.47 0.20 0.12 0.39

HN0811 224.00 225.00 1.00 1.48 0.15 0.81 0.06 0.25

HN0811 233.00 234.00 1.00 0.97 0.51 0.07 0.04 0.26

HN0812 278.50 284.00 5.50 1.96 0.56 0.12 0.12 0.50

Mr. Paul Gorman, President and CEO of Southampton commented, “We are delighted that the first set of assay results appear to be in line with the historical results on the Horden Lake deposit in terms of grades and widths. Despite delays at the lab, we expect all assay results to be received by the end of the summer and completion of a 43-101 report with a compliant resource to be published by early fall.”

Individual samples were split, labelled, placed and sealed in plastic sample bags Groups of samples were then placed into durable rice bags and secured by project security tags for shipping. The samples were delivered via bonded carrier to Expert Laboratory's sample preparation facility in Rouyn-Noranda, Québec.

Southampton also completed a regional airborne geophysical survey in this year’s exploration program. The survey encompassed 554 line kilometers to the northeast and southwest of the Horden Lake Deposit. Results of this survey will assist in prioritizing drill targets for next winter’s exploration program.

The current work program is being carried out by Caracle Creek International Consulting Inc. (“CCIC”), of Sudbury, Ontario, under the supervision of Mr. Iain Kelso, P.Geo., a geologist with CCIC and Qualified Person under NI 43-101.

 

Mr. Richard Patricio Related to PNP, Vice President and Legal for PNP since 2005

He currently holds 505,000 Shares of Southampton

 

It is always good news to see a company trading close to their low,that has these connections to the capital market.

I am not sure if PNP actually holds stock in Southampton, I don't remember them doing so.

I also like the fact that this company has done it's major PP's well above a dollar and nearly all of it's warrants and opitions are way out of the money currently.

 

 

 

Pinetree holds the following in SV, so not only are they link through a director they are also linked by investment.

The more I look at SV the more I like it.

Just wish I knew more about their properties, does anyone have a clue how their ring of fire property compares to others in the area

 

PNP Holding in Southampton

2,733,000 common shares

500,000 warrants expire Mar 22,2009

 

250,000 warrants expire Jul 26, 2009

 

SV seems to be a very tightly held stock, this tends to be a problem if your planning a quick flip, I don't think that will happen, but as a mid to long term hold, I think you can get in near the bottom here and maybe worth the risk for the reward.

 

Financial condition

The Company has total assets $34,168,042 at March 31, 2008, compared to $32,810,243 at December

31, 2007. This increase is attributable to spending $3.2 million on the Horden Lake property (due to the

exploration drilling program) and acquisition of the McFauld’s Lake property. These expenditures were

funded through the Company’s existing cash balance and the issuance of 266,667 common shares for

the McFauld’s Lake property and an increase in the Company’s payables position.

The Company’s net working capital decreased from $9,139,055 at December 31, 2007 to $4,794,539 at

March 31, 2008. All cash and marketable securities are liquid. The decrease in net working capital is

primarily due to spending of $3.2 million on the Horden Lake property drilling program. The Company has

advanced $1,000,000 to Noront for McFauld’s lake exploration expenditures. This balance is excluded

from net working capital.

The Company has deferred the advances as property acquisition costs relating to the Ni-Mo project, and

is carrying these advances at cost until such time as the Company has completed the work requirement

to earn its 75% interest in the project, at which time these expenditures will be further evaluated with

respect to their ongoing carrying value.

The acquisition of Nemiscau resulted in a carrying value of the Horden Lake property of $17,686,118,

which is the fair value assigned to the shares issued for the purchase and the future income tax liability

incurred as a result of the purchase of $3,796,000, plus deferred cash expenditures to date. Aside from

future income taxes (now valued at $6,285,000), the Company has no long-term financial liabilities. Also,

the Company has no off-balance sheet financing arrangements or material contingent liabilities.

The Company valued the 266,667 common shares issued for the McFauld’s Lake property at $200,000,

which has been deferred as the carrying value of the property.

Liquidity and capital resources

From the date of its incorporation to March 31, 2008 the Company has raised total gross proceeds of

approximately $16 million through equity financings. At March 31, 2008 the Company had working capital

of $4,794,539.

Its current projects include its Horden Lake Copper-Nickel-PGE Deposit in Quebec; its option to earn up

to a 100% interest in the Devonian shale hosted nickel-molybdenum-zinc-platinum group elements

property known as the NiMo Project located in the Yukon, the Company’s recent option on 12 claim

blocks (6720 acres) with Noront on a mineral rich property in the McFaulds Lake ‘Ring of Fire’ 25

kilometres Northeast of the Eagle One Discovery and its Nigerien uranium concessions. Southampton’s

assets show strong potential and have the support of some of Canada’s strongest fundamental resource

investors.

For further information please contact Mr. Paul Gorman, President and CEO,

paulgorman@southamptonventures.com (T) 416-867-6101 or Ms. Julie Lassonde-Gray, VP Corporate

 

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