Faszinierend - Maximus Ventures 900922

wenn ich an Deinem Platz wäre, würde ich auf keinen Fall umschichten.
Das sich zur Zeit bei Maxi wenig tut liegt vieleicht auch daran, das die User sich mitlerweile
gut eingedeckt haben und in Lauerstellung sind.
Denn selbst wenn Du welche kaufen willst, so kann es gut sein das Du lange warten kannst.
Vieleicht bekommst Du dann auch gar keine.


 

für NFX viel Werbung gemacht. Allein schon die Frickkunden. Von Maximus habe ich noch nie was in Deutschland gehört bezüglich Börsenbriefe usw.  

habe seit Anfang  des Jahres das ganze Auf und Ab mit NFX beobachtet und auch teilweise mitgemacht. Konnte noch meine Haut mit ein wenig Gewinn retten, bevor der Einbruch kam. Parallel habe ich MAX nie aus den Augen verloren. Bin vor einiger Zeit dann eingestiegen, als die Aktie zwischen 0,188 - 0,205 lag. Hätte nicht gedacht, dass es wieder so weit nach unten gehen kann. Das Warten hat sich aber, so denke ich, gelohnt. Ist der Boden diesbezüglich bei um die 0,20 Cent erreicht oder ist ein weiteres Abrutschen ( 0,15 oder tiefer ) möglich? Bin mir z.Zt. recht unsicher diesbezüglich... Wenn ich mir ansehe, wo die Aktie mal herkam ( 0,08 ) kann einem schon etwas "flau" im Magen werden...  

Also ich habe ein StopLoss gesetzt (Ziemlich dicht unterm Boden). Aber da wir einen leichten Aufwärtstrend haben, mache ich mir darum erstmal keine Sorgen.
Ich warte gespannt auf die News, in diesem Monat noch.  

Erstmals der Push der NFX immer wieder in die höhe treibt, das ist klar wurde auch geschrieben.
Zweitens wird das Bohrprogramm fast nur von MAX finanziert und somit trägt MAX das höhere Risiko.
Was aber natürlich MAX einen höheren Hebel bringt bei einem richtigen Trefer.  

hoffe für uns alle, dass in diesem Monat noch was an positiven News kommt; sind ja nur noch ein paar Tage. Wo hast Du den StopLoss plaziert? Bei 0,18 Cent? Habe mit StopLoss so meine negativen Erfahrungen gemacht. Geht Intraday runter, StopLoss wird ausgeführt und am nächsten Tag steht die Aktie wieder entsprechend höher; aber mein Depot ist leer...  

Ich weiß ja nicht so genau, aber bei WO steht folgendes seit gestern im Forum:

"Habe mit dem management gesprochen - 3.Probebohrung ist fertig gestellt - bei der 4. gabs Probleme mit dem Bohrer - daraufhin wurde eine groessere Maschine beordert die Gott sei Dank auch kurzfristig zur verfuegung stand und seit 4 tagen arbeitet - sobald die vierte Bohrung ausgewertet wird kommen news - gehe mal davon aus dass dies in rund 2 Wochen der Fall sein wird - vielleicht veroeffentlichen sie in der Zwischenzeit die Ergebnisse des dritten holes mit einem kleinen update - man muss eben ein bischen Geduld mitbringen bei juniors - mich interessiert als Fondmanager - wo steht der Kurs am Jahresende - und meine PERSOENLICHE Einschaetzung ist dass dies hoeher sein wird wie 0,80$ wo wir im Moment in Canada stehen.
Cheers
GrafDago"

Ich weiß jetzt kommt wieder, "der kann viel erzählen" und so weiter aber ich verfolge das WO Forum schon länger bezüglich MAX und NFX und dieser User scheint wirklich Kontakt zu Management zu haben (arbeitet wohl bei einer Investmentbank im gleichen Gebäude wie  Maximus oder NFX sitzen). Die Einschätzung zum Kurs bezieht sich auf NFX.

Dies hier spiegelt nicht meine Meinung wieder (hoffe auch News kommen früher), ist nur als Info gedacht.

Greetz Spooky  

werden.

Maximus war nie 30 CAD wert, schon gar nicht 1998, siehe unten. Unser Liebling wurde spaeter gegruendet. Natuerlich sind auch mehr Leute investiert als hier aktiv. Gleichwohl ist es eben ein Penny-Stock (z.Zt. zumindest) und es sind massiv viele Daytrader drin gewesen. Um so erfreulicher wie stabil sich der Kurs haelt. Ich halte ein kurzfristiges Ziel (ende des Jahres) von 3 CAD fuer voellig ueberzogen. Wir koennen froh sein, wenn wir die 1 CAD sehen (bin da nicht allzu optimistisch), vor allem duerfen wir auch nicht die Kursschankungen EUR/CAD vergessen, wenn wir uns den Deutschen Kurs anschauen.

Wie schon von anderen erwaehnt ist das Kritische von Maximus bei Funden, wie deren Strategie aussieht selbige zu heben (Tiefe, und damit Kosten usw.). Einen kurzfristigen Hype koennte ein Merge mit Nfx bedingen. Aber ob der wirklich gewollt ist? Was waeren die Vorteile? (auch im Hinblick auf den Kurs)... mir hat sich das noch nicht erschlossen. Besitzen ja eh schon 60%.

In der Tat ist NFX noch staerker im Sog der Daytrader und somit erklaeren sich hier die staerkeren Kurschwankungen ... Glaube aber schon, dass wir unter enger Beobachtung stehen und nicht nur von uns selber gelesen werden ;-)




Date: December 20, 2002
Trading Symbol: MXV.T (TSX Venture Exchange)



NEWS RELEASE

PRIVATE PLACEMENT RAISES $255,000

Mr. Ian Rozier, President, is pleased to announce that subject to approval by the TSX Venture Exchange, the Company has arranged a non-brokered private placement of 1,700,000 units at Cdn$0.15 per unit. Each unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase an additional share for two years at Cdn$0.20 per share.

In accordance with the current policies of the TSX Venture Exchange the 1,700,000 units will be subject to a 12-month hold period. There are no bonuses, finders fees or commissions to be paid in connection with the private placement.

Proceeds from the private placement will be applied to working capital and mineral property evaluations and are sufficient for the company to fund its business plan. As part of the companies reactivation plan the company's share capital was consolidated in April 2002. With the arrangement of this non-brokered private placement, the Company is now conducting due diligence on several mineral properties with a view to making an acquisition that will meet Tier 2 TMR requirements.
-30-
For further information contact:

Mr. Don Myers
604-685-6851  

mein Posting bezog sich nicht auf Deins, wobei ich auch hier vorsichtig waere ...

Mein letzte AG, bei der ich in Deutschland arbeitete gab es auch schlaumeier die alles Moegliche (und das ist woertliche zu nehmen) gepostet haben. Das war alles Flurgefluester.

Auswertungen dauern doch schon laenger als 2 Wochen ... insofern ...

aber nun gut ... ich bleibe ja bei meiner Meinung, dass wir wie auch immer kurzfristig bei new 0,30-0,35 EUR sehen und dann rauschen wir wieder auf die 0,20 hin. Es bedarf einfach wirklich grosser News und Strategien und die sehe ich erst fruehstens in einem Jahr, wenn alle Bohrungen erledigt sind. Weiss auch nicht wie die die 26 Bohrungen noch dieses Jahr durchbekommen wollen, bei dem jetzigen Tempo ist das nicht zu halten ...  

liegt bei 0,17 das Jahrestief liegt bei 0,196 in FFm. Mir ist es einmal gelungen in einer Schwächephase zu 0,199 zu kaufen. Und das hat ne ganze Weile gedauert. Mit dem Stop Loss bei 0,17 wird man kaum im Intraday Ausgestoppt. Vielleicht bei schlechten News. Und dann ist es auch gerechtfertigt. Im übrigen kann man auch einen SMS Alarm einrichten, dann wird man rechtzeitig gewarnt falls mal der Intraday zu weit runtergeht.

@Spooky
Dein Text bezieht sich ausschleißlich auf NFX. Da Maximus in mehreren Projekten involviert ist, können News auch aus anderen Projekten kommen.  

Hallo! Weiss jemand was los ist? Kurs rutscht ab!  

bei mini Volumen

Börse   Datum   Uhrzeit   Kurs   Veränderung   Akt.
Geld Akt.
Brief Range Volumen
        abs. in % Hoch Tief Letztes Gesamt
München 28.08.2006 11:43:54 0,226 +0,01 +3,20% 0,201 0,221 0,226 0,219 2.500 2.500
Berlin-Bremen 28.08.2006 09:09:06 0,190 -0,01 -5,00% 0,195 0,230 0,190 0,190 0 0
Frankfurt 28.08.2006 18:09:43 0,203 -0,02 -7,73% 0,202 0,225 0,225 0,203 14.500 20.186
Stuttgart 28.08.2006 09:07:30 0,205 -0,01 -2,38% 0,205 0,225 0,205 0,205 0 0
Xetra 23.05.2006 14:02:23 0,222 +0,00 +0,00% 0,00 0,00 0,222 0,222 2.500 2.500  

Ist ja wieder mal typisch, NFX steigt und Maximus fällt,
aber lasst euch nicht beunruhigen, bei diesen minimal Umsätzen heute bei Maximus, gerade drei mal gehandelt den Tag über, da ist es nichts seltsames das der Kurs so abrutscht! Da hat mal wieder einer, der nichts weiß, seine Aktien zu billig Preisen hergegeben!
Falls noch jemand Interesse hat, ich kaufe alles unter 0,20! :-)))  

steigt erst ein wenn in etwa feststeht wann News bezüglich der aktuellen Bohrungen kommen. Nur aufgrund solcher News wird die Aktie nach oben kommen können. Da in den nächsten zwei bis drei Wochen solche News wohl nicht anstehen wird es sich auch nicht lohnen in den nächsten zwei Wochen einzusteigen, weil der Kurs weiter nach unten gedrückt wird.
Kurse um die 0,15 scheinen mir mittlerweile durchaus realistisch.

Dass andere vielversprechende News kommen denke ich nicht, weil die Firma nach eigenen Angaben ja nur an den aktuellen Bohrungen und deren Auswertungen mit voller Kraft arbeitet und sonst ja nix mehr wirklich großes zustaden bringen dürfte.
Und dass alle Löcher bis Jahresende ausgwertet sind wenn das Tempo so weiter geht erscheint doch nicht nur fraglich zu sein, sondern unmöglich, oder täusch ich mich????

Aber vielleicht kommt doch alles anders und ich liege völlig falsch mit meinen Annahmen. Bin jedenfalls selbst zu 0,26 eingestiegen und werde nicht mehr nachkaufen ausser der Kurs fällt tatsächlich auf die 0,15!

Viel Erfolg weiterhin!!!  

woher willst du wissen das in den nächsten zwei bis drei wochen keine news kommen?
Die news können täglich kommen! und wenn man sich den newsflow von maximus so ansieht, faäält auf das sie jedes monat news raus gebracht haben! der monat hat nur noch drei tage! rein statistisch gesehn müssten also bald welche kommen, kann mich aber auch irren!  

Sehe ich genauso. News bestehen auch nicht immer aus Bohrergebnissen. Im übrigen kauf ich auch alles unter 0,20€. Bin aber nur einmal zum Zuge gekommen bei 0,199€. Der ASK liegt derzeit bei 0,22 in FFm.  

Hallo zusammen,

also hier die Antworten auf meine Fragen, die ich absichtlich etwas provokativ gestellt hatte ...

Klingt doch alles recht gut. In meinen Annahmen bzgl. der Timeline sehe ich mich aber bestaetigt. Ein Jaehrchen werden wir uns schon goennen muessen.

Gruesse
dscheymu


-----Original Message-----
From: FTGraybeal@aol.com [mailto:FTGraybeal@aol.com]
Sent: Tuesday, August 29, 2006 5:43 AM
To: XXXXXXXXXXXXXXXXXXXXX
Subject: Re: Maximus Ventures: Send A Message - R#: K08.N07.G90.V4T

In a message dated 8/28/2006 9:12:21 AM Eastern Standard Time, XXXXXXXXXXXX writes:


Subj: RE: Maximus Ventures: Send A Message - R#: K08.N07.G90.V4T
Date: 8/28/2006 9:12:21 AM Eastern Standard Time
From: XXXXXXXXXXXXXXXXXXXXXXXXXXXX
To: FTGraybeal@aol.com
Sent from the Internet

Please see responses to your various questions below:

Dear Mr Graybeal,

thx for your prompt answer. Actually I am quite confused regarding the different roles of NFX and Maximus. Our understanding in Germany is that you own 60% of NFX, however we are quite confused that regarding the stock exchange NFX is performing quite better and we often see high sells and buys while with Maximus there is no real activity neither in Toronto nor in Frankfurt.

Maximus does not own 60% of NFX.  Maximus has an option to earn 60% of the NFX interests at Larder Lake by making expenditures over a 3 year period with certain yearly ongoing requirements.  The details are in various news releases on our website.  Maximus owns about 17% of NFX shares that were acquired when Maximus converted 8 million NFX warrants to shares.  That's also in a news release.  We are aware of the much better performance of the NFX shares and have been puzzled by this ever since the joint venture option was signed.  It is cause for considerable debate in Maximus.

Are you allowed to explain your plans regarding the strategy of NFX? Are you planning a road show to get investors into Maximus?

Our strategy is to build value in Maximus by the discovery of new precious metal deposits or expanding and improving the quality of existing resources such as at Larder Lake.  The drill strategy at Larder Lake has been briefly, but completely described in our recent news releases on that property. We have discussed a road show to Europe, but think a Fall timing would be better than at present.  The idea of a tour will also be guided by results of drilling and the thoughts of professionals such as yourself.

Is Maximus listed on other exchange markets or in Toronto and Germany only.
There are no other listings that we know of.  

Thanks for your interest.  We are very aware of the disconnect between MXV and NFX and consider that MXV is undervalued.  We also consider that there is no better way to bring greater value, value that can be sustained, than to make a discovery or obtain additional ore grade drill intersections.  We do spend considerable time on the phone and in person with investors in North America, but also are very aware of the increased interest from Europe and there is a very considerable exchange on the subject within the board.  That's the best I can do now, writing from Reno, NV during my most recent trip to the field to look at new opportunities.  All our news releases have been posted on our website.

Frederick T. Graybeal, President & CEO
Maximus Ventures Ltd.
37 Wynwood Road
Chatham, NJ 07928
USA
tel. 973-635-8262
fax: 973-635-4991
 

Many thanks for your reply

 

Best regards

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX  

Sehr informativ.

Aber wir sollten uns nicht staendig auf Wochen und Monate hinaus vertroesten!
Das naechste Bohrergebnis steht unmittelbar bevor.  

Fall timing would be better than at present

Er spricht also von Herbst. Ich hoffe ermeint Herbst diesen Jahres. Roadshow werden Sie wohl nur initieren, wenn Sie bis dahin auch validere und noch bessere Ergebnisse haben ;-). Insofern sind das doch gut News.

Habe eben ueber den Ozean meine Meinung geschickt, dass Maxi sich mir Ihrer Homepage besser positionieren koennte (z.B. wie NFX mit einer Powerpoint-Praesentation usw.)

Schauen wir mal
dscheymu  

Nabend,

ist jemand von euch bei Stockwatch.com registriert und kommt somit an die SEDAR Berichte die da zu Max hinterlegt sind???

Greetz Spooky  

 

Ein Thread kann nicht aus einem anderen Bereich in das Aktienboard wechseln.


Laääst sich nicht nicht Posten. Schick Dir das aber gern per Mail zu.  

Page 1 of 13
MAXIMUS VENTURES LTD.
CONSOLIDATED FINANCIAL STATEMENTS
JUNE 30, 2006
(Unaudited prepared by management)
These unaudited interim consolidated financial statements of Maximus Ventures Ltd. for the nine month period ended June
30, 2006 have been prepared by management and approved by the Audit Committee and the Board of Directors. These
financial statements have not been reviewed by the Company’s external auditors.
Page 2 of 13
MAXIMUS VENTURES LTD.
INTERIM CONSOLIDATED BALANCE SHEETS
As at June 30, 2006 and September 30, 2005
June 30, 2006
(unaudited)
September 30,
2005
ASSETS
Current
Cash and equivalents $ 4,126,674 $ 1,538,815
Receivables 51,917 89,064
Prepaid expenses 10,000 9,603
4,188,591 1,637,482
Exploration advance (Note 3) 269,245 59,882
Mineral properties (Note 3) 3,312,144 1,931,828
$ 7,769,980 $ 3,629,192
LIABILITIES AND SHAREHOLDERS' EQUITY
Current
Accounts payable and accrued liabilities $ 153,465 $ 142,424
153,465 142,424
Shareholders' equity
Capital stock (Note 4) 32,401,707 28,215,540
Contributed surplus (Note 4) 1,591,011 1,437,259
Deficit (26,376,203) (26,166,031)
7,616,515 3,486,768
$ 7,769,980 $ 3,629,192
Nature and continuance of operations (Note 1)
Subsequent event (Note 8)
On behalf of the Board:
“Frederick Graybeal” Director “Elaine Bennett” Director
The accompanying notes are an integral part of these interim consolidated financial statements.
Page 3 of 13
MAXIMUS VENTURES LTD.
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS AND DEFICIT
For the
three months
Jun 30, 2006
For the
three months
Jun 30, 2005
For the
nine months
Jun 30, 2006
For the
nine months
Jun 30, 2005
(unaudited) (unaudited) (unaudited) (unaudited)
EXPENSES
Administration fees $ 7,500 $ 7,500 $ 22,500 $ 22,500
Amortization - - - 4,536
Consulting fees - - - 40,220
Insurance - - 7,151 -
Interest on capital lease obligation - - - 1,830
Management fees 16,373 30,847 55,282 98,370
Office and miscellaneous 1,615 8,309 11,051 15,490
Professional fees 46,436 6,898 84,523 18,556
Property investigation costs, net of recovery costs - 812 - (8,060)
Regulatory and transfer agent fees 5,510 9,397 20,310 23,720
Rent and telephone 3,992 - 3,992 8,621
Shareholder information - (3,797) 5,927 7,489
Stock-based compensation (Note 4) 7,945 - 23,835 55,255
Travel and related costs 3,121 12,361 16,856 27,398
Loss before other items (92,492) (72,327) (251,427) (315,925)
OTHER ITEMS
Interest income 23,501 3,870 36,392 10,352
Interest expense - (13,348) - (24,120)
Tax refund 4,863 - 4,863 -
Write-off of equipment - - - (4,513)
28,364 (9,478) 41,255 (18,281)
Loss for the period (64,128) (81,805) (210,172) (334,206)
Deficit, beginning of period (26,312,075) (26,600,716) (26,166,031) (26,348,315)
Deficit, end of period $ (26,376,203) $ (26,682,521) $ (26,376,203) $ (26,682,521)
Basic and diluted loss per common share $ (0.01) $ (0.01) $ (0.01) $ (0.01)
Basic and diluted weighted average number
of common shares
40,548,741
25,109,048
36,813,282
24,803,187
The accompanying notes are an integral part of these interim consolidated financial statements.
Page 4 of 13
MAXIMUS VENTURES LTD.
INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS
For the
three months
Jun 30, 2006
For the
three months
Jun 30, 2005
For the
nine months
Jun 30, 2006
For the
nine months
Jun 30, 2005
(unaudited) (unaudited) (unaudited) (unaudited)
CASH FLOWS FROM OPERATING ACTIVITIES
Loss for the period $ (64,128) $ (81,805) $ (210,172) $ (334,206)
Items not affecting cash:
Amortization - - - 4,536
Stock-based compensation 7,945 - 23,835 55,255
Disposition of equipment - - - 1,550
Changes in non-cash working capital items:
(Increase) decrease in receivables 59,400 (14,614) 37,147 (24,422)
(Increase) decrease in prepaid expenses (10,000) 5,000 (397) 37,400
Increase (decrease) in accounts payable and
accrued liabilities
53,961
14,317
11,041
(378,713)
Net cash provided by (used in) operating activities 47,178 (77,102) (138,546) (638,600)
CASH FLOWS FROM FINANCING ACTIVITIES
Capital lease obligation payments - - - (2,968)
Shares issued for cash, net of costs (note 4) 4,128,584 - 4,138,584 -
Subscriptions received - 1,394,995 - 1,394,995
Net cash provided by financing activities 4,128,584 1,394,995 4,138,584 1,392,027
CASH FLOWS FROM INVESTING ACTIVITIES
Mineral properties (446,534) (341,238) (1,202,816) (502,793)
Exploration advance (242,277) - (209,363) -
Amounts received from related parties - 9,265 - 84,061
Net cash used in investing activities (688,811) (331,973) (1,412,179) (418,732)
Change in cash and equivalents during the period 3,486,951 985,920 2,587,859 334,695
Cash and equivalents, beginning of period 639,723 1,397,209 1,538,815 2,048,434
Cash and equivalents, end of period $ 4,126,674 $ 2,383,129 $ 4,126,674 $ 2,383,129
Cash paid for interest $ - $ - $ - $ 1,830
Supplemental disclosure with respect to cash flows (Note 6)
The accompanying notes are an integral part of these interim consolidated financial statements.
Page 5 of 13
MAXIMUS VENTURES LTD.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and nine month periods ended JUNE 30, 2006
(Unaudited – prepared by management)
1. NATURE AND CONTINUANCE OF OPERATIONS
Maximus Ventures Ltd. (the "Company") was incorporated under the laws of British Columbia, Canada. The
Company is primarily engaged in the acquisition and exploration of mineral properties. To date, the Company has
not earned significant revenues and is considered to be in the exploration stage.
The Company is in the process of exploring its mineral properties and has not yet determined whether the properties
contain reserves that are economically recoverable. The recoverability of the amounts shown for mineral properties
and related deferred exploration costs are dependent upon the existence of economically recoverable reserves, the
ability of the Company to obtain necessary financing to complete the development of those reserves and upon future
profitable production.
These consolidated financial statements have been prepared in accordance with Canadian generally accepted
accounting principles with the assumption that the Company will be able to realize its assets and discharge its
liabilities in the normal course of business for the foreseeable future. The continuing operations of the Company are
dependent upon its ability to continue to raise adequate financing and to commence profitable operations in the
future.
These consolidated financial statements do not include any adjustments relating to the recoverability and
classification of recorded assets amounts and classification of liabilities that might be necessary should the Company
be unable to continue in existence.
Jun. 30,
2006
Sept. 30,
2005
Working capital $ 4,035,126 $ 1,495,058
Deficit (26,376,203) (26,166,031)
2. INTERIM FINANCIAL STATEMENTS
These unaudited interim consolidated financial statements have been prepared in accordance with Canadian
generally accepted accounting principles for interim financial statements. Accordingly, they do not include all of the
information and footnotes required by generally accepted accounting principles for complete financial statements. In
the opinion of management, the accompanying financial information reflects all adjustments, consisting primarily of
normal and recurring adjustments considered necessary for fair presentation of the results for the interim period.
Operating results for the nine month period ended June 30, 2006 are not necessarily indicative of the results that may
be expected for the year ending September 30, 2006. These interim financial statements have been prepared in
accordance with Canadian generally accepted accounting principles for interim financial information and follow the
same accounting policies as the annual financial statements. Accordingly, these consolidated financial statements
should be read in conjunction with the 2005 annual consolidated financial statements and notes thereto.
Page 6 of 13
MAXIMUS VENTURES LTD.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and nine month periods ended JUNE 30, 2006
(Unaudited – prepared by management)
3. MINERAL PROPERTIES
Hope Bay,
Nunavut
Excelsior
Springs,
Nevada
Larder
Lake,
Ontario
June 30,
2006
Total
Acquisition costs
Balance, September 30, 2005 $ 320,000 $ 25,497 $ - $ 345,497
Additions 177,500 13,671 - 191,171
497,500 39,168 - 536,668
Deferred exploration costs
Balance, beginning of period 1,510,045 76,286 - 1,586,331
Assaying - 10,732 34,723 45,455
Camp costs - - 8,194 8,194
Core drilling 175,348 - 291,587 466,935
Data review and reporting 32,381 - 11,773 44,154
Geological consulting 132,503 42,260 77,658 252,421
Labour - - 6,960 6,960
Mapping and sampling 91,366 - - 91,366
Project supervision 29,294 8,423 91,912 129,629
Supplies - - 3,040 3,040
Technical consulting - 5,699 - 5,699
Title and claim management 125 17,940 100,888 118,953
Travel and related costs - 11,328 5,011 16,339
461,017 96,382 631,746 1,189,145
Balance, end of period 1,971,062 172,668 631,746 2,775,476
Total $ 2,468,562 $ 211,836 $ 631,746 $ 3,312,144
Page 7 of 13
MAXIMUS VENTURES LTD.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and nine month periods ended JUNE 30, 2006
(Unaudited – prepared by management)
3. MINERAL PROPERTIES (cont’d…)
Hope Bay,
Nunavut
Excelsior
Springs,
Nevada
Jersey,
Nevada
Sept. 30,
2005
Total
Acquisition costs
Balance, beginning of year $ 195,000 $ - $ - $ 195,000
Additions 125,000 25,497 18,428 168,925
Recoveries - - (18,428) (18,428)
Balance, end of year 320,000 25,497 - 345,497
Deferred exploration costs
Balance, beginning of year 366,357 - - 366,357
Compilation and reporting 11,946 - - 11,946
Core drilling 981,403 - - 981,403
Data review and reporting 504 - - 504
Geological 35,859 55,227 - 91,086
Mapping and sampling 25,839 - - 25,839
Project supervision 50,136 - - 50,136
Technical services 6,988 - - 6,988
Title and claim management 31,013 21,059 - 52,072
1,143,688 76,286 - 1,219,974
Balance, end of year 1,510,045 76,286 - 1,586,331
Total $ 1,830,045 $ 101,783 $ - $ 1,931,828
Hope Bay, Nunavut
During the year ended September 30, 2004, Miramar Mining Corporation (“Miramar”) and the Company entered
into an option agreement whereby the Company can earn a 75% interest in the Eastern Contact and Twin Peaks
areas. On March 20, 2006, the Company amended certain terms of the option agreement with Miramar. The
amended terms are reflected in the deferred exploration expenditures, all other terms remained constant. The Eastern
Contact block has been dropped and the Chicago claim block has been added.
To earn its interest, the Company is required to:
a) Issue 5,000,000 shares over a three year period (3,000,000 issued).
b) Incur $7,250,000 in expenditures over three years, with scheduled minimum cumulative expenditures of
$3,250,000 by April 30, 2007, $5,250,000 by April 30, 2008 and $7,250,000 by April 30, 2009.
Additionally, the Company is required to issue up to 16,500,000 shares as follows:
a) Issue 1,500,000 shares following the reporting of the first 2,500,000 ounces of gold in measured, indicated or
inferred resources;
Page 8 of 13
MAXIMUS VENTURES LTD.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and nine month periods ended JUNE 30, 2006
(Unaudited – prepared by management)
3. MINERAL PROPERTIES (cont’d…)
Hope Bay, Nunavut (cont’d…)
b) Issue 7,500,000 shares over three tranches upon the first, second and third million ounces reported as a
measured and/or indicated resource;
c) Issue 2,500,000 shares on delivery of a positive feasibility study; and
d) Issue 5,000,000 shares upon reaching production.
Miramar will have a one-time right to buy back up to a 50% interest and become operator by paying the Company
150% of the Company’s proportionate exploration costs for the percentage being acquired.
As at June 30, 2006, the Company has provided an exploration advance of $269,245 on the project.
Excelsior Springs Project, Esmeralda County, Nevada
During the year ended September 30, 2005, the Company entered into an option agreement to acquire certain
unpatented mining claims located in Esmeralda County, Nevada for US$270,000 (US$10,000 (paid)) payable by
September 30, 2009. Upon commencement of mining operations, a 2% net smelter returns royalty (“NSR”) on gross
sales on metals from the property would be payable in connection with this agreement.
Additionally, during the year ended September 30, 2005 the Company entered into a separate option agreement to
acquire certain patented mining claims also located in Esmeralda County, Nevada. The terms of this option
agreement require the Company to pay US$10,000 (paid) on signing and US$12,000 annually until production and
payment of a 2% royalty on gross sales.
The Company also staked additional unpatented claims in this area.
Jersey Project, Arabia District, Pershing County, Nevada
During the year ended September 30, 2005, the Company staked certain unpatented claims.
The Company had entered into option agreements to acquire additional claims, and an agreement to sell its option
interests, all of which were subsequently terminated. Related costs of $18,428 and a recovery of $29,593 resulted in
a gain on recovery of mineral properties of $11,165 on the statement of operations at September 30, 2005.
Larder Lake Properties, Ontario
On November 24, 2005, the Company entered into an option and joint venture agreement to acquire a 60% interest
in the Cheminis, Bear Lake and Fernland properties and a 45% interest in the Barber Larder property, collectively
referred to as the Larder Lake properties located in Ontario.
To earn its interest, the Company is required to incur expenditures of $6,000,000 as follows:
(i) $220,000 by December 31, 2005 (incurred);
(ii) $480,000 by July 31, 2006;
Page 9 of 13
MAXIMUS VENTURES LTD.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and nine month periods ended JUNE 30, 2006
(Unaudited – prepared by management)
3. MINERAL PROPERTIES (cont’d…)
(iii) $500,000 by December 31, 2006;
(iv) $2,000,000 by December 31, 2007; and
(v) $2,800,000 by December 31, 2008
Additionally, the Company, in partial consideration of incurring expenditures, received from the optionor, NFX Gold
Inc. (“NFX”), 8,000,000 share purchase warrants (the “Warrants”) as follows:
(i) 1,500,000 Warrants exercisable to purchase up to 1,500,000 NFX common shares (the “NFX Shares”) at an
exercise price of $0.20 per share expiring December 31, 2006 (Note 8);
(ii) 2,500,000 Warrants exercisable to purchase up to 2,500,000 NFX Shares at an exercise price of $0.20 per
share expiring December 31, 2007 (Note 8); and
(iii) 4,000,000 Warrants exercisable to purchase up to 4,000,000 NFX Shares at an exercise price of $0.30 per
share expiring December 31, 2008 (Note 8).
4. CAPITAL STOCK AND CONTRIBUTED SURPLUS
Number
of Shares
Amount
Contributed
Surplus
Authorized
100,000,000 common shares without par value
As at September 30, 2005 34,909,014 28,215,540 1,437,259
Shares issued for cash, net 9,500,000 4,250,000 -
Shares issued for mineral property 500,000 177,500 -
Exercise of warrants 1,383,316 276,663 -
Finder’s fee - (386,527) 129,917
Shares issued for cost - (131,469)
Stock-based compensation - - 23,835
As at June 30, 2006 46,292,330 $ 32,401,707 $ 1,591,011
Page 10 of 13
MAXIMUS VENTURES LTD.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and nine month periods ended JUNE 30, 2006
(Unaudited – prepared by management)
4. CAPITAL STOCK AND CONTRIBUTED SURPLUS (cont’d…)
On May 23, 2006, the Company completed a brokered private equity placement for gross proceeds of $4,250,000.
The private placement was comprised of 5 million units at a price $0.40 per unit and 4.5 million flow-through
common shares at a price of $0.50 per share. The units consist of one common share and one-half of one share
purchase warrant. Each whole warrant entitles the holder to one additional common share of the Company at a price
of $0.60 per share until November 23, 2007. However, if the trading price of the shares of the Company closes at or
above $0.80 per share for 20 consecutive trading days any time after September 24, 2006, then the Company will
have the right to provide a written notice to the warrant holders to exercise all unexercised warrants within 30 days or
the warrants will be cancelled. In consideration for the private placement, the brokers received cash commissions
totalling $255,000 and received agents’ warrants to purchase up to 570,000 common shares at a price of $0.45 per
share until November 23, 2007. 0020The proceeds of the flow-through shares totalling $2.250, 000, must be used to
incur Canadian exploration expenditures as defined by the Income Tax Act (Canada) by December 31, 2007.
Stock options
As at June 30, 2006, the Company had outstanding stock options, enabling the holders to acquire further common
shares as follows:
Number
of Shares
Exercise
Price
Expiry Date
500,000 $0.12 November 12, 2009
700,000 $0.10 August 31, 2010
200,000 $0.30 March 28, 2011
Stock option transactions and the number of stock options outstanding are summarized as follows:
Number
of Options
Weighted
Average
Exercise
Price
As at September 30, 2005 1,380,000 0.15
Options granted 200,000 0.30
Options cancelled/expired (180,000) 0.45
As at June 30, 2006 1,400,000 $ 0.14
During the nine months ended June 30, 2006, the Company granted 200,000 stock options of which 37.5% vested on
the date of grant, resulting in stock-based compensation expense of $23,835. Pursuant to the Company’s stock
option plan, these options will vest equally over 18 months until September 28, 2007.
Page 11 of 13
MAXIMUS VENTURES LTD.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and nine month periods ended JUNE 30, 2006
(Unaudited – prepared by management)
4. CAPITAL STOCK AND CONTRIBUTED SURPLUS (cont’d…)
Stock options (cont’d…)
The Company used the Black-Scholes option pricing model to estimate the fair value of the options granted in the
period, with the following weighted average assumptions:
June 30,
2006
Risk-free interest rate 4.13%
Expected life of options/warrants 5 years
Annualized volatility 99%
Dividend rate 0%
Warrants
As at June 30, 2006, the Company had the following share purchase warrants outstanding enabling the holders to
acquire additional common shares as follows:
Number
of Shares
Exercise
Price Expiry Date
1,000,000 $0.20 September 17, 2006
3,266,667 0.20 January 11, 2007
2,500,000 0.60 November 23, 2007
570,000 0.45 November 23, 2007
Warrant transactions and the number of warrants outstanding are summarized as follows:
Number
of Warrants
Weighted
Average
Exercise
Price
As at September 30, 2005 5,649,983 0.20
Warrants exercised (1,383,316) 0.20
Warrants granted 3,070,000 0.57
As at June 30, 2006 7,336,667 $ 0.36
Page 12 of 13
MAXIMUS VENTURES LTD.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and nine month periods ended JUNE 30, 2006
(Unaudited – prepared by management)
5. RELATED PARTY TRANSACTIONS
The Company entered into the following transactions with related parties; these transactions were in the normal
course of operations and were measured at the exchange amount, which is the amount of consideration established
and agreed to by the related parties.
a) Paid or accrued consulting fees of $Nil (2005 - $38,900) to companies controlled by a former director and to a
former director.
b) Paid or accrued management fees of $55,282 (2005 - $90,369) to companies controlled by a director and a
former director.
c) Paid or accrued rent expense of $Nil (2005 - $8,000) to a company controlled by a former director.
d) Paid or accrued mineral property expenditures of $452,594 (September 30, 2005 - $1,103,651) to a company
with a common director and $27,992 (September 30, 2005 - $56,919) to a director of the Company.
e) As at June 30, 2006, prepaid expenses included $Nil (September 2005 - $9,603) paid to companies controlled by
directors of the Company. An exploration advance of $269,245 (September 2005 - $59,882) was paid to a
company with a common director.
6. SUPPLEMENTAL DISCLOSURE WITH RESPECT TO CASH FLOWS
During the nine months ended June 30, 2006, the Company entered into the following non-cash transactions:
a) Issued 500,000 common shares pursuant to a mineral property acquisition (Note 3).
During the nine months ended June 30, 2005, the Company entered into the following non-cash transactions:
a) Issued 500,000 common shares pursuant to a mineral property acquisition (Note 3).
7. SEGMENTED INFORMATION
The Company has one reportable operating segment being the acquisition and exploration of mineral properties.
The Company's capital assets are located in the following geographic locations:
Jun. 30,
2006
Sept. 30,
2005
Canada $ 3,100,308 $ 1,830,045
United States of America 211,836 101,783
$ 3,312,144 $ 1,931,828
Page 13 of 13
MAXIMUS VENTURES LTD.
NOTES TO THE INTERIM CONSOLIDATED FINANCIAL STATEMENTS
For the three and nine month periods ended JUNE 30, 2006
(Unaudited – prepared by management)
8. SUBSEQUENT EVENT
On July 7, 2006, the Company acquired 8,000,000 common shares of NFX upon exercise of warrants previously
acquired under the terms of the agreement with NFX as described in the section on the Larder Lake properties in
note 3 of these financial statements.
To exercise the warrants, the Company borrowed $2,000,000 from Laurentian Mountain Investment Ltd. (“LMI”), a
private company controlled by the chairman and director of the Company. The LMI loan was approved by the
independent directors of the Company and is unsecured, non-interest bearing and is to be repaid from the first
$2,000,000 of proceeds from the sale of NFX shares. The terms of the LMI loan agreement provide for the issuance
to LMI of 500,000 common shares of the Company (issued) and the right to a 10% participation in net proceeds
from the sale of NXF shares after repayment of the loan principal, up to a maximum of $200,000.
The Company has also completed an option agreement with Kodiak International Inc. (“Kodiak”), which gives
Kodiak a 90 day option to purchase from the Company in whole or in part in multiples of 500,000 shares, the
8,000,000 shares of NFX at an average price of $0.725 per share. If Kodiak exercises its option in full, the net
proceeds to the Company after repayment of the LMI principle and LMI 10% participation, would be approximately
$3,600,000.  

Page 1 of 8
MAXIMUS VENTURES LTD.
Management Discussion and Analysis
For the Nine Months ended June 30, 2006
This discussion and analysis of financial position and results of operations is prepared as at August 28,
2006 and should be read in conjunction with the unaudited consolidated financial statements for the nine
months ended June 30, 2006 of Maximus Ventures Ltd. (the “Company”) with the related notes thereto.
Those unaudited consolidated financial statements have been prepared in accordance with Canadian
generally accepted accounting principles for interim financial statements. All dollar amounts included
therein and in the following management discussion and analysis (“MD&A”) are expressed in Canadian
dollars except where noted. This discussion contains forward-looking statements that involve risks and
uncertainties. Such information, although considered to be reasonable by the Company’s management at
the time of preparation, may prove to be inaccurate and actual results may differ materially from those
anticipated in the statements made. Additional information on the Company is available for viewing on
SEDAR at www.sedar.com.
Overview
The Company is engaged in the exploration for gold-silver properties. Its primary assets are an option to
earn a 75 percent joint venture interest with Miramar Mining Corporation (“Miramar”) in two properties in
the Hope Bay gold belt in Nunavut and an option to earn a 60 percent joint venture interest in interests
held by NFX Gold Corporation (“NFX”). in the Larder Lake area of eastern Ontario. The Company is also
conducting field reviews and has initiated acquisition of mineral rights on several early stage precious
metal properties in Nevada in the United States.
Highlights of the Third Quarter
• On May 23, 2006, the Company completed a $4.25 million private equity financing. The
financing was comprised on 5 million units at a price of $0.40 per unit and 4.5 million flowthrough
common shares at a price of $0.50 per share. The units consist of one common share and
one-half of one share purchase warrant. Each whole warrant entitles the holder to one additional
common share of the Company at a price of $0.60 per share until November 23, 2007.
• Drilling resumed at the Larder Lake gold project in eastern Ontario in late May.
• Exploration field work resumed at the Hope Bay gold project in Nunavut in May.
• Subsequent to the quarter, on July 4, 2006 the Company acquired 8 million common shares of
NFX under the terms of an option and joint venture agreement.
Exploration Activities
• Hope Bay Project, Nunavut
During the year ended September 30, 2004, the Company entered into an option agreement with Miramar
whereby the Company can earn a 75% interest in the Eastern Contact and Twin Peaks areas in the Hope
Bay gold belt in Nunavut. The Eastern Contact and Twin Peaks claim blocks cover 115 square kilometers
in the northern part of the Hope Bay gold belt. Exploration work at Hope Bay is done by Miramar under
contract to the Company. On March 20, 2006, the Company amended the terms of the agreement to
include an option on the Chicago claim block of Hope Bay. The Chicago claim block at the southwest end
of the Hope Bay Gold Belt was determined to have potential for both gold and base metal mineralization.
Page 2 of 8
Exploration funding terms were amended to require cumulative expenditures of at least $3,250,000 by
April 30, 2007, $5,250,000 by April 30, 2008, and $7,250,000 by April 30, 2009 to earn a 75% interest in
the Chicago and Twin Peaks claim blocks. Other terms in the Agreement remain unchanged and the field
work will continue to be carried out by Miramar under the direction of the Company.
In May, geophysical and geochemical surveys were started at Twin Peaks and Chicago. Work consisted of
ground magnetic and to map rock contacts under post-mineral cover and electromagnetic surveys to locate
conductive zones that may be carrying pyrite, a mineral commonly associated with gold at Hope Bay.
Upon completion of these surveys data will be analyzed to determine if drill targets are present. Work was
ongoing at the end of the quarter.
• Larder Lake Project, Ontario
On March 7, 2006 the Company completed an option and joint venture agreement with NFX to acquire a
60% interest in the Cheminis, Bear Lake and Fenland properties and a 45% interest in the Barber Larder
property, collectively the Larder Lake properties in Ontario. Under the agreement, the Company would
earn a 60% interest in the Larder Lake property by expending $6,000,000 on or for the benefit of the
property by December 31, 2008. Minimum expenditures must total $1,200,000 by December 31, 2006.
Also, NFX was to issue 8,000,000 NFX warrants expiring in annual blocks or under certain market share
price thresholds. Subsequent to the quarter, on July 4, 2006 the Company acquired 8,000,000 common
shares of NFX under the terms of an option and joint venture agreement.
The Larder Lake project extends about 6 kilometers along the Kirkland Lake-Cadillac fault zone, a
regional scale geologic structure that includes the Cheminis mine at Larder Lake and numerous other gold
occurrences and mines. Drilling in December 2005 and January 2006 identified several additional fault
zones as targets for further drilling. Results of the December and January drilling were reported in a news
release dated February 7, 2006.
Drilling resumed in late May 2006 as reported in a news release dated June 5, 2006. Three objectives were
identified for the 2006 drill program:
1. High grade mineralization below and adjacent to the Cheminis gold mine and the
Fernland and Bear Lake prospects,
2. Shallow, near-surface zones of gold mineralization for resources that might be mined in
an open pit, and
3. Gold targets on the regional faults identified during the 2005 drilling program.
At the end of June, 2006 1,109 meters of diamond drilling had been completed in 3 holes.
Financing Activities
• Private Equity Financing
On May 24, 2006 the Company completed a private equity placement which had raised gross proceeds of
$4,250,000. The private placement comprised 4,500,000 flow-through common shares of the Company at
a price of $0.50 per share and 5,000,000 units of the Company at a price of $0.40 per unit, each unit
consisting of one common share and one-half of one common share purchase warrant. Each whole share
purchase warrant entitles the holder thereof to purchase one additional common share of the Company
until November 23, 2007, at an exercise price of $0.60 per share. However, if the trading price of the
shares of the Company closes at or above $0.80 per share for 20 consecutive trading days any time after
September 24, 2006, then the Company will have the right to provide written notice to the warrant holders
to exercise all unexercised warrants within 30 days or the warrants will be cancelled. No flow-through
Page 3 of 8
benefits attach to any common shares comprising the units or any common shares issuable upon the
exercise of the common share purchase warrants.
In consideration for completing the private placement the brokers were paid a cash commission totalling
$255,000 and granted non-transferable Agents' Warrants exercisable to purchase a total of up to 570,000
common shares of the Company until November 23, 2007, at an exercise price of $0.45 per share. All of
the shares and warrants, and any shares issued upon exercise thereof, issued with respect to the private
placement are subject to a four-month hold period expiring September 24, 2006, and may not be traded
except as permitted under applicable securities legislation and the policies of the TSX Venture Exchange.
The proceeds of the flow-through shares sold under the private placement, in the amount of $2,250,000,
will be used for exploration of the Company’s gold projects near Larder Lake in eastern Ontario and at
Hope Bay in Nunavut and must be expended as qualifying CEE expenses by December 31, 2007 in
accordance with the Income Tax Act (Canada). The proceeds of the units sold under the private placement
will be used for working capital.
• Acquisition of NFX Units
On April 21, 2006 the Company announced the acquisition of common share purchase warrants of NFX
exercisable to acquire in the aggregate up to 8,000,000 common shares of NFX, which would represent, if
exercised, approximately 17.2% of the issued and outstanding common shares of NFX. The NFX warrants
were acquired pursuant to the option and joint venture agreement between the Company and NFX dated
March 3, 2006 whereby the Company was granted an option to acquire interests in the NFX Larder Lake
properties in Ontario by incurring expenditures over a three-year period. The Company owned no
securities of NFX prior to the option and joint venture agreement. Subsequent to the quarter, on July 4,
2006 the Company acquired 8 million common shares of NFX Gold Corporation (“NFX”) under the terms
of an option and joint venture agreement.
Results of Operations
For the nine months ended June 30, 2006, the loss for the period was $210,172 compared to a loss of
$334,206 during the nine months ended June 30, 2005. The decreased loss in the current period is
primarily a result of a decrease in management and consulting fees. This was a result of certain
management and consulting contracts that were terminated in the previous year.
During the nine months ended June 30, 2006, the Company incurred Property Acquisition and Deferred
Exploration Costs of $1,393,987 (September 30, 2005 - $1,370,471).
Expenses
The Company incurred $251,427 in expenses in the nine months ended June 30, 2006, compared to
expenses of $315,925 in the comparative period. The most significant expense during the current period
was professional fees of $84,523 (2005 - $18,556). This increase was directly a result of the significant
activity undertaking during the current quarter compared to 2005, which included the Company
completing of the $4.25 million private placement and the Larder Lake property acquisition. Most other
expense items decreased in the nine months ended June 30, 2006 compared to the previous period.
Page 4 of 8
Other Items
The Company earned $36,392 (2005 - $10,352) in interest income through its short-term investments held.
During the nine months ended June 30, 2005, the Company wrote-off $4,513 worth of equipment and
incurred interest expense of $24,120. This interest expense relates to unspent flow-through funds pursuant
to the Canadian Tax Act.
Quarterly Information
The following table sets forth selected unaudited consolidated financial information prepared by
management of the Company.
Summary of Quarterly Results
Quarter
Ended
June 30,
2006
Quarter
Ended
Mar 31,
2006
Quarter
Ended
Dec 31,
2005
Quarter
Ended
Sept 30,
2005
Revenue – interest $ 23,501 $ 5,317 $ 7,574 $ 8,642
Net income (loss) for the period (64,128) (96,769) (49,275) 516,490
Earnings (loss) per share (0.01) (0.01) (0.01) (0.01)
Diluted earnings (loss) per share (0.01) (0.01) (0.01) (0.01)
Quarter
Ended
June 30,
2005
Quarter
Ended
Mar 31,
2005
Quarter
Ended
Dec 31,
2004
Quarter
Ended
Sept 30,
2004
Revenue – interest $ 3,870 $ 3,012 $ 3,470 $ 1,414
Loss for the period (81,805) (84,190) (168,211) (967,714
Loss per share (0.01) (0.01) (0.01) (0.10)
Diluted loss per share (0.01) (0.01) (0.10) (0.10)
Fiscal 2006
There were several significant changes in the key financial data during the third quarter of fiscal 2006.
The Company completed a $4.5 million brokered private placement financing. The Company also
incurred approximately $450,000 in exploration expenditures primarily on the Larder Lake and Hope Bay
projects. Also during the period, 1,333,316 share purchase warrants were exercised for proceeds totaling
$266,663. During the second quarter, the Company issued 500,000 common shares valued at $177,500
pursuant to the acquisition of the Hope Bay project. The Company also incurred $15,890 in stock-based
compensation expense as a result of the granting of 200,000 stock options. These options are vesting over
an 18 month period. During the first quarter, The Company incurred $593,767 in exploration expenditures
primarily on the Hope Bay and Larder Lake projects.
Page 5 of 8
Fiscal 2005
In the fourth quarter of 2005, the Company had a $583,000 charge against capital stock and a
corresponding recovery to income as a result of the renouncement of the $1,707,500 in exploration
expenditures from a flow-through financing. Also during the fourth quarter, the Company granted
incentive stock options resulting in a stock-based compensation expense of $51,174. Lastly in the fourth
quarter, the Company issued 9,299,966 units at $0.15 per unit for total proceeds of $1,394,995 pursuant to
a private placement. In the third quarter, the Company incurred $328,490 in deferred exploration costs on
the Hope Bay project. Most administrative expenses remained constant during the second and third
quarter. During the second quarter, the Company issued 500,000 common shares at a deemed price of
$65,000 to Miramar pursuant to the option agreement on Hope Bay. During the first quarter, the Company
granted 500,000 incentive stock options resulting in a stock-based compensation expense of $55,255. The
Company also incurred $150,000 in deferred exploration expenditures on Hope Bay.
Liquidity and Capital Resources
The Company started 2006 with working capital of about $1,500,000 and had working capital as at June
30, 2006 of approximately $4,000,000. Exploration and administrative expenditures incurred during the
nine months ended June 30, 2006 were funded from cash generated by the transactions noted below:
a) The Company completed a brokered private placement consisting of 5 million units of the
Company at $0.40 per unit and 4.5 million flow-through common shares of the Company at $0.50
per share. The units consist of one common share and one-half of one share purchase warrant.
Each whole warrant entitles the holder to one additional common shares of the Company at a price
of $0.60 per share for a period of 18 months. In connection with this private placement, a finder’s
fee of $255,000 and 570,000 warrants each exercisable for one share at a price of $0.45 per share
for an 18 month period.
b) The Company issued 1,383,316 common shares on the exercise of warrants for proceeds of
$276,663.
For the year ending September 30, 2006, the Company anticipates incurring exploration and property
maintenance expenditures on each of the Company’s held projects. The Company has sufficient working
capital to sustain operations for the next fiscal year. The Company’ main sources of financing are through
issuances of equity.
The Company does not anticipate generating revenues in the near future and intends to continue its mineral
exploration activities. These activities, along with further mineral acquisitions, may need to be funded
through additional equity financings.
Critical Accounting Estimates
The most significant estimates are related to the physical and economic lives of mineral assets, and their
recoverability.
Mineral properties and deferred exploration costs
The Company records its interests in mineral properties and areas of geological interest at cost. All direct
and indirect costs relating to the acquisition of these interests are capitalized on the basis of specific claim
blocks or areas of geological interest until the properties to which they relate are placed into production,
sold or management has determined there to be impairment. These costs will be amortized on the basis of
Page 6 of 8
units produced in relation to the proven reserves available on the related property following
commencement of production. Mineral properties which are sold before that property reaches the
production stage will have all revenues from the sale of the property credited against the cost of the
property. Properties which have reached the production stage will have a gain or loss calculated based on
the portion of that property sold.
The recorded cost of mineral exploration interests is based on cash paid, the assigned value of share
considerations and exploration and development costs incurred. The recorded amount may not reflect
recoverable value as this will be dependant on the development program, the nature of the mineral deposit,
commodity prices, adequate funding and the ability of the Company to bring its projects into production.
Property option agreements
From time to time, the Company may acquire or dispose of properties pursuant to the terms of option
agreements. Because options are exercisable entirely at the discretion of the optionee, the amounts payable
or receivable are not recorded. Option payments are recorded as resource property costs or recoveries when
the payments are made or received.
Cost of maintaining mineral properties
The Company does not accrue the estimated future costs of maintaining its mineral properties in good
standing.
Environmental protection and reclamation costs
Liabilities related to environmental protection and reclamation costs are accrued and charged to income
when their likelihood of occurrence is established. This includes future removal and site restoration costs
as required due to environmental law or contracts.
Transactions with Related Parties
The Company entered into the following transactions with related parties; these transactions were in the
normal course of operations and were measured at the exchange amount, which is the amount of
consideration established and agreed to by the related parties.
a) Paid consulting fees of $Nil (2005 - $22,700) to Buccaneer Management Ltd. (“Buccaneer”), a
company controlled by a former director.
b) Paid consulting fees of $Nil (2005 - $7,200) to Tabo Investments Ltd. (“Tabo”), a company
controlled by a former director.
c) Paid consulting fees of $Nil (2005 - $9,000) to Barbara Dunfield, a former director of the
Company.
d) Paid management fees of $Nil (2005 - $8,000) to Tabo.
e) Paid management fees of $55,282 (2005 - $90,369) to Exploration Management LLC
(“Exploration Management”) a company controlled by the President of the Company.
f) Paid rent expense of $Nil (2005 - $8,000) to 641485 BC Ltd., a company controlled by a former
director.
g) Paid or accrued mineral property expenditures of $452,594 (September 30, 2005 - $1,103,651) to
Miramar Mining Corporation (“Miramar”), a company with a common director and $27,992
(September 30, 2005 - $56,919) for services provided by Exploration Management.
h) As at June 30, 2006, prepaid expenses included $Nil (September 2005 - $9,603 paid to
Exploration Management. An exploration advance of $269,245 (September 2005 - $59,982) was
paid to Miramar.
Page 7 of 8
Outlook
The Company has sufficient financial resources to meet December 31, 2006 expenditure requirements at
Larder Lake, to drill at Hope Bay until the exploration season ends, and to continue reconnaissance for
new exploration opportunities well into 2007, if justified by the results of ongoing work programs. The
Company expects to initiate drilling at the Hope Bay project in Nunavut during the fourth quarter
subsequent to receiving recommendations from Miramar Mining Corporation based on results of magnetic,
electromagnetic, and geochemical surveys.
On July 18, 2006 the Company announced the results of initial assaying from diamond drilling at the
Larder Lake project in eastern Ontario where two diamond drill holes (1150 meters) were completed and a
third hole was started in western part of the Larder Lake Property. Assays reported were as follows:
Hole Numbers From (m) To (m) Length (m) (1) Gold (g/t) (2) Mineralization
Type (3)
PR-06-13 301.15 303.40 2.25 3.88 Flow
including 302.10 302.40 0.30 15.63 Flow
PR-06-15 371.60 375.65 4.05 5.12 Flow
including 372.15 374.40 2.25 7.30 Flow
And 483.40 487.75 4.35 5.69 Carbonate
including 484.35 485.75 1.40 10.18 Carbonate
Notes:
(1) Meters. Length is reported in meters of drilled core and is not necessarily the "true" width.
(2) Au g/t. Gold grades are reported in units of grams per tonne gold. All gold assays were performed by Expert
Laboratories in Rouyn, QC using standard fire assaying protocols. Assay results from the 2006 drill program are
considered accurate, precise and free of contamination as determined from assay results of quality control certified
reference standards, field blank standards and duplicate samples submitted during the program. Core recovery
generally exceeded 95%. All other assays are less than 1.00 g/t Au
(3) Flow - contains abundant pyrite in altered volcanic rock. Carbonate - contains abundant ankerite, quartz veins,
occasional visible gold, and only minor pyrite.
Drilling is continuing at the project. Most of the holes planned for the 2006 program will be widely spaced
and designed to test areas with few or no previously known drill holes. Assays may not be easily
correlated with other holes in the project area so their importance may be difficult to interpret until
additional drilling is completed. As a matter of policy for reporting assays in the future, the Company will
release all assay results from the drill program either when the drilling has been completed or at such
earlier time as the Company deems the results to be material or considers that results can be presented in
the correct geological context.
Subsequent Events
Subsequent to June 30, 2006, the following events occurred:
a) On July 7, 2006 the Company acquired 8,000,000 common shares of NFX upon exercise of
warrants acquired under an option and joint venture agreement.
To exercise the warrants the Company borrowed $2,000,000 from Laurentian Mountain Investment Ltd.
(“LMI”), a private company controlled by the chairman and director of the Company. The LMI loan is
Page 8 of 8
unsecured, non-interest bearing and is to be repaid from the first $2,000,000 of proceeds from the sale of
NFX shares. The terms of the LMI loan agreement provide for the issuance to LMI of 500,000 common
shares of The Company (issued) and the right to a 10% participation in net proceeds from the sale of NFX
shares after repayment of the loan principal, up to a maximum of $200,000.
The Company has also signed an option agreement with Kodiak International Inc. (“Kodiak”), which gives
Kodiak a 90 day option to purchase from the Company in whole or in part in multiples of 500,000 shares,
8,000,000 shares of NFX at an average price of $0.725 per share.
Other MD&A Requirements
As of August 14, 2006, the Company has:
a) 46,792,330 common shares outstanding;
b) 1,400,000 stock options outstanding with exercise prices ranging from $0.10 to $0.30 and expiring
from November 2009 to March 2011; and
c) 7,336,667 share purchase warrants outstanding with exercise prices ranging from $0.20 to $0.60
per share expiring from September 2006 to November 23, 2007.
Additional information is available on SEDAR at www.sedar.com
Cautionary Statement on Forward Looking Information
This Management Discussion and Analysis may contain forward-looking statements that involve risks and
uncertainties. When used in this Management Discussion and Analysis, the words “believe,” “anticipates,”
“expects” and similar expressions are intended to identify such forward looking statements. The Issuer’s
actual results may differ significantly from the results discussed in the forward-looking statements. Readers
are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the
date hereof. The Issuer undertakes no obligation to publicly release the results of any revisions to these
forward-looking statements that may be made to reflect events or circumstances after the date hereof or to
reflect the occurrence of unanticipated events.  

kann mal jemand eine kurze zusammenfassung, so in ein zwei sätzen, geben, was die meldung enthält! Wäre sehr dankbar! danke