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McWatters Mining Raided by corporate-pirate


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#1 goldsmith

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Posted 04 November 2003 - 02:45 AM

McWatters Mining Raided by corporate-pirate

McWatters Mining Inc. (MWA:TSX) Raided by corp.pirate...

For MWA Investors Highlights
Kiena Complex Highlight

Ounces produced McWatters Mining Inc. (MWA:TSX)
— — 12,044 15,994
Cash operating cost (US$ per ounce)
— — $ 214 $ 224
Total production costl (US$ per ounce)
— — $ 237 $ 255
Last updated on September 9, 2003 (ND)


http://www.mcwatters...peedSet-03.html


Post-reorganization
Pre reorganization


Three months
ended
June 30, 2003 Six months
ended
June 30, 2003 Three months
ended
June 30, 2002 Three months
ended
March 31, 2002


(unaudited) (unaudited) (unaudited) (audited)
PRODUCTION
Ounces produced
17,029 17,029 12,044 15,994

Average realized price per ounce sold (US$)
$ 354 $ 354 $ 303 $ 298

Cash operating cost (US$ per ounce)
$ 335 $ 335 $ 214 $ 224

Total production cost (US$ per ounce)
$ 424 $ 424 $ 237 $ 255


FINANCIAL RESULTS (thousands)

Revenues ($)
$ 8,356 $ 8,356 $ 5,746 $ 7,713

Mine operating income (loss) ($)
(1,673) (1 681) 1 176 1 162

Operating income (loss) ($)
(3,175) (4 480) 462 (3 202)

Net income (loss) ($)
(3,463) (4 720) 663 (3 977)

Cash flows used for operating activities ($)
4,475 (719) 930 (216)

Per share
Loss ($)
$ (0.01) $ (0.02) $ 0.00

Cash flows used for operating activities ($)
$ 0.01 $ 0.00 $ 0.00

Weighted average number of shares
outstanding (thousands)
447,700 335,591 182,319


PRODUCTION STATISTICS
Sigma-Lamaque Complex
Ounces produced
17,029 17,029

Tonnes milled
326,114 326 114
Grade milled (g/t Au)
1.71 1.71
Recovery (%) 95% 95%
Cash operating cost (CAN$/t)
$ 24 $ 24
Cash operating cost (US$ per ounce)
$ 335 $ 335
Total production cost (US$ per ounce)
$ 424 $ 424

Kiena Complex

Ounces produced
— — 12,044 15,994
Cash operating cost (US$ per ounce)
— — $ 214 $ 224
Total production costl (US$ per ounce)
— — $ 237 $ 255

Last updated on September 9, 2003 (ND)

Quarterly Report 2
For the six months ended June 30, 2003
All figures are in Canadian dollars unless otherwise indicated
SECOND QUARTER PRODUCTION AND FINANCIAL RESULTS;

UPDATE ON KIENA EXPLORATION OPERATION
MANAGEMENT’S DISCUSSION AND ANALYSIS

KIENA EXPLORATION – 750,000 OUNCES OF INDICATED GOLD RESOURCES

In January 2003, the second phase surface diamond
drilling program was undertaken on the ice of
Lac DeMontigny to follow up on the promising results
of the 2002 underground campaign.

Beginning January 20th, 23 holes for a total
of 8,222 meters were drilled during Phase II,
primarily on the P Zone, with lesser amounts
on the S-50 Zone.

The program was completed in March 2003
and geological
interpretation and 3-D modeling
were completed in June 2003.

The 2002-2003 exploration campaign was very successful
as can be ascertained from the following
updated resource calculation:

A new resource calculation combining results
of the 2002-2003 phase I and phase II
exploration campaign
that was recently completed
yielded indicated resources
(at a 2 g/t Au cut-off grade)

of 6,863,500 tonnes at
3.40 g/t Au for 750,000 ounces of gold,

and inferred resources
(at a 1 g/t Au cut-off grade)
of 6,667,000 tonnes grading 2.55 g/t Au
for 546,000 ounces of gold

for the S-50,
the P and R Zones.

All of these resources
are located above level 54
(540 meter depth) and
near existing underground infrastructures.

http://www.mcwatters...h/pdf/Q2_03.pdf

About McWatters

McWatters is a Canadian junior gold producer
with reserves of approximately 1.4 million ounces of gold
and total reserves and resources of
approximately 3.2 million ounces of gold,
not including inferred resources of 3.5 million
ounces of gold.

The Company’s principal assets are the Sigma open-pit mine,
the East Amphi Project and the Kiena Complex,
all of
which are located in the prolific gold-producing Val-d’Or –
Malartic Mining Camp of Northwestern Quebec.

Since 1997,
McWatters has produced a total of 650,000 ounces of gold.

McWatters announced in March 2003, the closing of two
strategic acquisitions designed to increase its asset base
and
pave the way for improved production efficiencies.

McWatters acquired SOQUEM’s 40% interest in the Sigma-
Lamaque mine and also acquired from Barrick,
the East Malartic ore processing mill and related
properties near
McWatters' East Amphi property.

The Company’s strategic goal is to become one of Canada’s
premier junior gold producers with several producing
mines and a strong portfolio of high-potential properties.

Within the next few years, based on the reserves and
resources currently identified on its properties, it is not inconceivable that McWatters could be producing close to
300,000 ounces of gold a year

TO ALL SHAREHOLDERS:

How many of the above Promises And Stated Commitments
to the Shareholders:

By MWA. RE: TO the last Quarterly Report 2

For the six months ended June 30, 2003..

has today been broken:

By MWA: Sale Of The Company’s Principal Assets of
The Kiena Mine Complex???

Has a company Raider - (thief fraud expert) taken the
helm of the MWA???

Imo. its a fire sale of a company pirate-raider!!!

Imo. The shareholders should Demand to have the
fire-sale Void and Nullified Immediately!!!




[B]

#2 KRomanov

KRomanov

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Posted 04 November 2003 - 05:59 PM

Goldsmith, interesting chart analysis of McWatters Mining, TVI Pacific, and Drooy:


http://www.contraria...is_of_3_gol.htm

#3 goldsmith

goldsmith

    Member

  • Traders-Talk User
  • 49 posts

Posted 05 November 2003 - 12:01 AM

Investors were shattered after
some $6 billion worth of stock value
in Bre-X became worthless when it was
revealed,,,

http://acmi.canoe.ca...extrial-cp.html

Top analyst at / of J.P. Morgan & Co. Inc.,
in New York, one of nine U.S. and
Canadian analysts who last...
is a conservative guess
as to what Bre-X will ultimately come up
with,"
he said,,,

http://web.archive.o.../media/fp06.htm

...that's about all they have brains
to.. and ABSOLUTE NOTHING OF VALUE!!!

Corporate America is under siege!
Not by terrorism, but rather by an unethical

- market practice that is destroying emerging
public companies and undermining the trust
of small investors...

McWatters Mining Raided by corporate-pirate
McWatters Mining Inc. (MWA:TSX) Raided by corp.piracy...

Kiena Mine Gold Reserve:
Total Res. Au 1,296,000 ounces of Gold
the ore valu at $380 x 1,296,000 = $492,480,000.00

..deduct the average Kiena production cost
of about $240/oz x 1,296,000 = $311,040,000.00

...and the profit would be...
$492,480,000.00 - $311,040,000.00 = $181,440,000.00

SOLD FOR $3 mil. / 2% of Market Value???


Chrisdee, you are right 100%, its a robbery/fraud of high scale...

SUBJECT: mining the shareholders Posted By: Chrisdee

Sell the good mine for a low price in order
to keep the low grade mine going. Smart.
Just about as smart as having a bunch of promissory
notes convertible into convertible debentures.
Managment here is in the business of mining
shareholder value.
The grades on the present mine are much lower
then what was reported.
It is much cheaper to mine shareholder equity
then mine low grade gold ore.
No funds for drilling required.
---

For MWA Investors Highlights
Kiena Complex Highlight

Ounces produced McWatters Mining Inc. (MWA:TSX)
— — 12,044 15,994
Cash operating cost (US$ per ounce)
— — $ 214 $ 224
Total production costl (US$ per ounce)
— — $ 237 $ 255
Last updated on September 9, 2003 (ND)


http://www.mcwatters...peedSet-03.html

Post-reorganization
Pre reorganization


Three months
ended
June 30, 2003 Six months
ended
June 30, 2003 Three months
ended
June 30, 2002 Three months
ended
March 31, 2002


(unaudited) (unaudited) (unaudited) (audited)
PRODUCTION
Ounces produced
17,029 17,029 12,044 15,994

Average realized price per ounce sold (US$)
$ 354 $ 354 $ 303 $ 298

Cash operating cost (US$ per ounce)
$ 335 $ 335 $ 214 $ 224

Total production cost (US$ per ounce)
$ 424 $ 424 $ 237 $ 255


FINANCIAL RESULTS (thousands)

Revenues ($)
$ 8,356 $ 8,356 $ 5,746 $ 7,713

Mine operating income (loss) ($)
(1,673) (1 681) 1 176 1 162

Operating income (loss) ($)
(3,175) (4 480) 462 (3 202)

Net income (loss) ($)
(3,463) (4 720) 663 (3 977)

Cash flows used for operating activities ($)
4,475 (719) 930 (216)

Per share
Loss ($)
$ (0.01) $ (0.02) $ 0.00

Cash flows used for operating activities ($)
$ 0.01 $ 0.00 $ 0.00

Weighted average number of shares
outstanding (thousands)
447,700 335,591 182,319


PRODUCTION STATISTICS
Sigma-Lamaque Complex
Ounces produced
17,029 17,029

Tonnes milled
326,114 326 114
Grade milled (g/t Au)
1.71 1.71
Recovery (%) 95% 95%
Cash operating cost (CAN$/t)
$ 24 $ 24
Cash operating cost (US$ per ounce)
$ 335 $ 335
Total production cost (US$ per ounce)
$ 424 $ 424

Kiena Complex

Ounces produced
— — 12,044 15,994
Cash operating cost (US$ per ounce)
— — $ 214 $ 224
Total production costl (US$ per ounce)
— — $ 237 $ 255

Last updated on September 9, 2003 (ND)

Quarterly Report 2
For the six months ended June 30, 2003
All figures are in Canadian dollars unless otherwise indicated
SECOND QUARTER PRODUCTION AND FINANCIAL RESULTS;

UPDATE ON KIENA EXPLORATION OPERATION
MANAGEMENT’S DISCUSSION AND ANALYSIS

KIENA EXPLORATION – 750,000 OUNCES OF INDICATED GOLD RESOURCES

In January 2003, the second phase surface diamond
drilling program was undertaken on the ice of
Lac DeMontigny to follow up on the promising results
of the 2002 underground campaign.

Beginning January 20th, 23 holes for a total
of 8,222 meters were drilled during Phase II,
primarily on the P Zone, with lesser amounts
on the S-50 Zone.

The program was completed in March 2003
and geological
interpretation and 3-D modeling
were completed in June 2003.

The 2002-2003 exploration campaign was very successful
as can be ascertained from the following
updated resource calculation:

A new resource calculation combining results
of the 2002-2003 phase I and phase II
exploration campaign
that was recently completed
yielded indicated resources
(at a 2 g/t Au cut-off grade)

of 6,863,500 tonnes at
3.40 g/t Au for 750,000 ounces of gold,

and inferred resources
(at a 1 g/t Au cut-off grade)
of 6,667,000 tonnes grading 2.55 g/t Au
for 546,000 ounces of gold

for the S-50,
the P and R Zones.

All of these resources
are located above level 54
(540 meter depth) and
near existing underground infrastructures.

http://www.mcwatters...h/pdf/Q2_03.pdf

About McWatters

McWatters is a Canadian junior gold producer
with reserves of approximately 1.4 million ounces of gold
and total reserves and resources of
approximately 3.2 million ounces of gold,
not including inferred resources of 3.5 million
ounces of gold.

The Company’s principal assets are the Sigma open-pit mine,
the East Amphi Project and the Kiena Complex,
all of
which are located in the prolific gold-producing Val-d’Or –
Malartic Mining Camp of Northwestern Quebec.

Since 1997,
McWatters has produced a total of 650,000 ounces of gold.

McWatters announced in March 2003, the closing of two
strategic acquisitions designed to increase its asset base
and
pave the way for improved production efficiencies.

McWatters acquired SOQUEM’s 40% interest in the Sigma-
Lamaque mine and also acquired from Barrick,
the East Malartic ore processing mill and related
properties near
McWatters' East Amphi property.

The Company’s strategic goal is to become one of Canada’s
premier junior gold producers with several producing
mines and a strong portfolio of high-potential properties.

Within the next few years, based on the reserves and
resources currently identified on its properties, it is not inconceivable that McWatters could be producing close to
300,000 ounces of gold a year

TO ALL SHAREHOLDERS:

How many of the above Promises And Stated Commitments
to the Shareholders:

By MWA. RE: TO the last Quarterly Report 2

For the six months ended June 30, 2003..

has today been broken:

By MWA: Sale Of The Company’s Principal Assets of
The Kiena Mine Complex???

Has a company Raider - (thief fraud expert) taken the
helm of the MWA???

Imo. its a fire sale of a company pirate-raider!!!

Imo. The shareholders should Demand to have the
fire-sale Void and Nullified Immediately!!!

loup99. thx for your opinion,
its important to hear, what all Shareholders
think about the piracy of McWatter's hard
Gold Mining assets!

Btw. I am not a shortseller!

I am a Long time MWA shareholder.

loup99, I don't define any robbery/fraud as a progress,
and not raid by corp.piracy...were the fire-sell
the richest Gold assets of MWA for peanuts...
the above Reports (eng. by drilling) state
a reserve of:

KIENA EXPLORATION OPERATION:

Res. Au for 750,000 ounces of gold,

and inferred resources

Res. Au for 546,000 ounces of gold

Total Res. Au 1,296,000 ounces of Gold
the ore valu at $380 x 1,296,000 = $492,480,000.00

Ounces produced McWatters Mining Inc. (MWA:TSX)
— — 12,044 15,994
Cash operating cost (US$ per ounce)
— — $ 214 $ 224
Total production costl (US$ per ounce)
— — $ 237 $ 255
Last updated on September 9, 2003 (ND)

...deduct the average Kiena production cost
of about $240/oz x 1,296,000 = $311,040,000.00

...and the profit would be...
$492,480,000.00 - $311,040,000.00 = $181,440,000.00

...even the past drilling cost for...
The 2002-2003 exploration campaign was very successful
as can be ascertained from the above
updated resource calculation.

...was higher than the fire-sale/robbery/piracy-fraud...
of all of the infrastructure incl. the Kiena Gold Mine!!!

To All Shareholders: Wake Up and get the corp.-raiders OUT!!!
...to behind bars were they belong...
Imo. TIA!


SUBJECT: RE: !st phase of
stockpicker, has they hired consultants to help
(brain dead) mwa mngt. to explain-hold
hand-how to run mine
at profit-cause we just over-paid
paper weights
trying to avoid

some class-action suits.?

please, explain more...

the junior miner said it had hired

Dundee Securities,,,

'to advise it on strategic options'in the wake of
the closure of the Sigma-Lamaque open-pit mine,
its main producing asset.,,,

At Sigma-Lamaque, 'expenses ha...

investors and market professionals...

http://securities.stanford.edu/

http://securities.st...edu/settle.html

http://www.alexander...tion-cases.html

http://www.seclaw.com/Welcome.shtml

http://www.seclaw.com/linkintr.htm

RE:
Avoid being taken to the cleaners!
Check out these resources on investment fraud...

http://www.formerabo...stmentfraud.htm

TIA. incl. also;
http://www.osc.gov.o...complaints.html

http://www.sec.gov/complaint.shtml

Advancing the Rights of Investors

http://www.stock-research-fraud.com/

Stock Research Fraud.com

Has Toronto has a problem with too
many Pro-bags?...

http://www.kipnotes....andalsFraud.htm

,,,its up to the authorities to Clean up
the Bay Street,,,

Stock Research Fraud.com

http://www.osc.gov.o...complaints.html

http://www.sec.gov/complaint.shtml

file the above complaints a.s.a.p.

Note. The GOLD derivatives are EXPLODING now and we
might just GO*^^^^^

straight to and through not only $400 but $500,
$600, $700 and UP...

That is how it happened at the end of 1979.

MWA,,,Oversold/Undervalued

,,,history repeat itself,,,

Ninety-eight percent of the adults are decent
hard-working honest Canadian.
It's the other
lousy two percent that get all the publicity.,,

Dundee Securities Corp. will pay $150,000 in investigation costs
to the province's stock market regulator and review
for prev. crap pulled...

http://www.thestar.c...ol=969048863851

BEWARE!!! Dundee bs.

Bre-X's bankruptcy trustee, Deloitte & Touche Inc.,
has won a court order obliging Dundee
to turn over all of Mr. Felderhof's trading records
for closer scrutiny...

http://rrsp.canoe.ca...hofftrades.html

Note. MWA has hired a foreign...consulting firm...and it has
received the preliminary report of RSG Global Pty Ltd,
an mining consultancy, which is a big slap in the face
to all Canadian Mining Consult firms, its like telling
the Canadian Mining firms, that you aren't good enough!
Imo. Tia.



[B]

#4 goldsmith

goldsmith

    Member

  • Traders-Talk User
  • 49 posts

Posted 07 November 2003 - 12:55 AM

KIENA GOLD MINE - Mr. Robert Després

To Mr. Robert Després, Chairman of the Board of McWatters &
President and Chief Executive CLAIRE DEROME
RE: Kiena Gold Mine

Mr. Robert Després, Chairman of the Board of McWatter
Honorable CEO Claire Derome,

RE: The Kiena Mine complex in Val-d'Or, Que.,
for at least - in the intent agreement - Nov. 03, 2003,

*** The transaction is subject to a due diligence review
terminating on November 14, 2003.***

As a Long Time Shareholder of McWatters Mining Inc.
Please, I do want the above transaction terminated
before November 14, 2003,
and declared *** VOID and NULL *** on behalf
of McWatters Mining Inc.

Sincerly
M. Goldsmith

FYI...and hereby asking
all our Long Shareholders of MWA to write to MWA...

Mr. Robert Després, Chairman of the Board of McWatters
and to the Founder of MWA...
Honorable - President and Chief Executive CLAIRE DEROME

to terminate the - in the intent agreement - Nov. 03, 2003,
of Kiena Gold Mine and any
of its hard asset of MWA Gold Reserve...

*** The transaction is subject to a due diligence review
terminating on November 14, 2003.***

Note. The above is *** MUTUAL ***!!!

http://www.stockhous...988392&tick=MWA

...The transaction is subject to a due diligence review terminating on November 14, 2003. ***** MUTUAL *****

McWatters Mining Inc.
1281, 7th Street
Val-d’Or (Québec)
J9P 3S1

Montreal Office
McWatters Mining Inc.
1800, McGill College Ave
Suite 2400
Montréal (Québec)
H3A 3J6

For further
information, visit our web site at
www.mcwatters.com.

Note. ...a formal agreement should not be executed at
that time and the property will be transferred in trust
until final closing - SHOULD BE TERMINATED!!!

As a Long Time Shareholder of McWatters Mining Inc.
Please, I do want the above transaction terminated
before November 14, 2003,
and declared *** VOID and NULL *** on behalf
of McWatters Mining Inc.

Kiena Mine Gold Reserve:
Total Res. Au 1,296,000 ounces of Gold
the ore valu at $380 x 1,296,000 = $492,480,000.00

..deduct the average Kiena production cost
of about $240/oz x 1,296,000 = $311,040,000.00

...and the profit would be...
$492,480,000.00 - $311,040,000.00 = $181,440,000.00

SOLD FOR $3 mil. / 2% of Market Value???

Note. Any shares will skyrocket if they get
more than $200 million in value
for $2 million or 1% of the value!!!

http://www.mcwatters...h/pdf/Q2_03.pdf

MWA Shareholders have lost (Kiena Gold Mine)
the same value!!! About $200 million - not
only in the Gold Res. and also plus all
Kiena Gold Mine Mill, infrastructure etc.

25
3.1.4 Kiena Complex
(a) Property Description and Location
The Kiena Complex is located on Parker Island, just off the shore of Lac Demontigny, approximately
10 kilometres by road, west of Val-d'Or, Québec.
It comprises one mining concession, 45 mining claims and the Kiena
mine and mill in Dubuisson Township, for a total area of 959 hectares.
The claims and mining concession boundaries
cover all the known mineralization on the property.
McWatters owns 100% of the Kiena Complex.
There are no royalties
payable on the property.
The underground mine is now closed, but is kept dry.
The concentrator and offices are kept on
stand-by maintenance.
(B) Accessibility and Local Resources
The site, which is less than two kilometres north of Route 117 and the CN railroad, is accessible by a dirt road
and is connected to the mainland by a short causeway.
The area is well served with the existing infrastructure and a large
pool of possible mine personnel is available.
All electrical power supply is available for the Kiena Complex.

© History
McWatters acquired the Kiena Complex in September 1997 from a subsidiary of Placer Dome.
The Kiena mine
was in continuous operation as an underground mining operation from 1981 to the third quarter of 2002 following which,
operations were suspended pending the results of further exploration. During that time, total mine production was
10.7 million tonnes of ore at an average grading of 4.8 g/t Au for a total of 1.56 million ounces of gold. An exploration
program, commenced in 2002 to further investigate five gold targets that had been previously identified, was completed in
March 2003.
A scoping study is planned for 2003 to evaluate the economic viability of all the mineralized resources
identified so far at the Kiena Complex.

(d) Geological Setting
The Kiena Complex occurs within the Jacola Formation which is comprised of an alternating series of tholeiitic
basalts, komatiitic basalts and komatiites.
The main ore zones tend to occur along the komatiitic basalt/komatiite contact
as defined by geochemistry.
An important albitite dyke precedes mineralization and cuts across the volcanic strata.
A series of three overprinting mineralization events formed the gold orebodies which are hosted by the albitite dyke and
altered komatiitic basalts and komatiites.
Mineralogical assemblages for the major lithologic units indicate that greenschist
facies metamorphism was attained during the various stages of regional deformation with amphibolite facies attained at
the lower levels.

(e) Exploration
On April 29, 2002, the Québec Ministry of Natural Resources provided a $650,000 grant to the Company as part
of the "Programme à l'exploration minière au Québec" (Assistance Program to mining exploration in Québec) for
advanced exploration work at the Kiena Complex.
During 2002, McWatters utilized approximately $429,000 of this
funding to help finance a 5,012 metre underground drill exploration program, the first phase of the exploration program at
the Kiena Complex to test the Hanging Wall mineralization of the S-50 ore body.
A follow-up drill program began on
January 20, 2003 and was completed in March 2003.
The remainder of the grant from the Québec Ministry of Natural
Resources totalling $221,000 was applied to the cost of this follow-up drill program.
The objective of this approximate
8,200 metre surface drill program was to extend the Hanging Wall mineralization of, as well as add to and improve the
resources of, the Kiena Complex so that McWatters may begin to evaluate its economic viability. The Kiena exploration
program has been carried out under the supervision of Mr. Jean Lafleur, Vice President, Exploration for McWatters.

(f) Mineralization
Three different types of ore were found in the Kiena mine.
Firstly, a stockwork with a dolomite-albite-pyrite-gold
vein system. Secondly, a breccia with dolomite-ankerite-pyrite-gold replacement veins, and thirdly a breccia with a
stockwork of albite-pyrite-chalcopyrite-bornite-scheelite-gold stockwork vein system.
26

(g) Drilling
Except for the results of the 2003 drilling program, the information in this section on the Kiena Complex is
contained in an audit report dated February 3, 2003 completed by Tully and supervised by John V. Tully, P. Geol., who is
independent of McWatters and is a "qualified person" for the purposes of NI 43-101.
This report was incorporated by
SNC-Lavalin into the Technical Report.
A compilation program for the Kiena Complex began early in 2002 to examine the significance of the large
number of non-correlated and not mined, mineralized drill hole intercepts, encountered during drilling during the mining of
the S-50 ore zone.
A 5,012 metre/38 hole drilling program was initiated from five underground levels from which a total of
3,262 gold assays were taken and analyzed at McWatters' Kiena laboratory. The drilling defined a significant and
continuous sub-horizontal mineralized corridor (termed Hanging Wall Zone), located 10 to 150 metres above and centred
directly over the nearly flat-lying S-50 orebody.
The host rocks in the corridor are schistose and locally brecciated, are
sulphide and gold enriched, and contain veins and stockworks, as well as significant carbonate and albite alteration.
The geological signature of the Hanging Wall Zone is similar to the upper portion of the S-50 orebody in mineralization style,
continuity and grade.
Two major mineralized lenses, the lower southern "P" and the upper northern "R" zones, were
outlined within this corridor, along with several other smaller lenses of more limited extent.

The "P" Zone is 5.5 metres in width and extends some 650 metres in horizontal length by 150 metres in vertical
length, located 10 to 30 metres above the S-50 ore zone.

The "R" Zone was consistently followed over 410 metres
horizontal length, 150 metres vertical length, and 30 metres width, located up to 150 metres above the S-50 ore zone.

Based on a review of historical drill holes, McWatters believes that the "R" lens can be recognized down to 480 metres
below surface.

Assays on the drill core were completed at the Kiena mine laboratory using the fire assay and total
pulverization/metallics techniques under the supervision of Tracy Armstrong, Exploration Manager, of McWatters and
Dale Sketchley of Acuity Management Ltd., an external quality control consultant.
Re-check assays were done at the
Chimitec laboratory in Val-d'Or, Québec (a division of ALS-Chemex).
On February 13, 2003, McWatters announced an updated resource calculation based on more than 540 historical
and current drill holes.
McWatters reported a total of 2,894,000 tonnes of ore grading 4.26 g/t Au for 396,000 ounces of
gold in indicated resources.
These resources are located close to existing production infrastructure. The resource
numbers included in the Technical Report for the Kiena Complex were audited by Tully. John V. Tully, P.Geol.,
supervised such audit and is independent of McWatters and a "qualified person" for the purposes of NI 43-101.

In preparing the Technical Report, SNC-Lavalin accepted Tully's projections and resource estimates for the Kiena Complex
and was of the opinion that additional data verification was not necessary.
SNC-Lavalin visited the Kiena mine site for a
validation study prepared for McWatters in April 2001, at which time the Kiena Complex was still an operating mine.
The follow-up drill program included 24 hole drill for a total of approximately 8,200 metres.
This program allowed
to confirm that several zones previously identified as separate are in fact part of the Hanging Wall Zone. One of these
zones, the P Zone, which had been identified during Phase I, was confirmed over a strike length of more than 1.2 km
while an extension of the S-50 orebody, which was mined from 1981 to 2002, was identified more than 200 metres from
previous underground workings.

(h) Outlook
Despite the shutdown of the Kiena Complex, to this day, McWatters remains optimistic about the future of the
Kiena Complex.
Following the results of the exploration program completed in March 2003, McWatters intends to begin a
scoping study to appraise the economic potential of the mineralized resources identified so far at the Kiena Complex in
order to determine the feasibility of restarting mining activities at this site.

3.2 Exploration Properties of McWatters
McWatters has a portfolio of 26 exploration properties located in the Abitibi region, in the Province of Québec,
covering an area of approximately 15,140 hectares or approximately 150 square kilometres.
Certain of these properties
are subject to underlying agreements, payments of royalties and future obligations to exercise options and three of the
properties have mineral resources (which are outlined in the Technical Report).
The following table does not include the
exploration properties that are included as part of the East Malartic Assets.
For information on these properties, see "East
Malartic Properties".
Project Name Titles Interest Size (Hectares) Location
West Amphi.................................. 19 claims 100% 859.3 Malartic and Fournière Townships
East Amphi Extension .................. 11 claims 100% 443.2 Malartic Township
Fourax(1) ....................................... 12 claims 100% 270.3 Fournière Township
Vassan Twp.................................. 19 claims 100% 300.9 Vassan Township
Maufort ......................................... 3 claims 50% 46.0 Dubuisson Township
Dubuisson Lake ........................... 33 claims 100% 478.0 Dubuisson Township
Elmac, AD Audet.......................... 30 claims 100% 398.6 Dubuisson Township
Dubuisson Twp............................. 9 claims 100% 235.1 Dubuisson Township
Roy Option ................................... 8 claims 100% 265.0 Dubuisson Township
Bloc Audet (Kiena) ....................... 6 claims 100% 100.0 Dubuisson Township
Bloc Sud (Kiena) .......................... 10 claims 100% 317.6 Dubuisson Township
Bigué ............................................ 82 claims 100% 2,642.5 Bourlamaque and Dubuisson Townships
New Bidlamaque .......................... 7 claims 100% 97.8 Bourlamaque Township
Union Gold ................................... 36 claims 100% 529.9 Bourlamaque Township
Audet VDMH ................................ 8 claims 100% 71.4 Bourlamaque Township
Audet — Stoch(4) .......................... 7 claims 100% 77.7 Bourlamaque Township
McWatters .................................... 1 concession 100% 382.0 Rouyn Township
New Vauze................................... 30 claims 100% 999.2 Dufresnoy and Duprat Townships
Fayolle(2) ....................................... 4 claims 100% 160.0 Aiguebelle Township
Aiguebelle .................................... 108 claims 100% 3,603.0 Aiguebelle, Cléricy and Destor Townships
Kino-Est........................................ 25 claims 70% 989.0 Canton Cléricy Township
Barraute Gold(2)(3) ......................... 6 claims 100% 225.6 Barraute et Carpentier Townships
Barraute Exploration(3).................. 25 claims 100% 986.0 Barraute Township
Aumaque(4) ................................... 1 concession 100% 63.1 Bourlamaque Township
Kiena West(4) ................................ 13 claims 100% 177.4 Dubuisson Township
Sigma 2 ........................................ 1 concession
21 claims
100% 420.0 Louvicourt Township
___________
(1) McWatters considers the Fourax project an exploration property, due to the fact that it is in the early stages of exploration.
Fourax contains
inferred resources that are incorporated with the inferred resources of the East Amphi Property because Fourax is contiguous with the
East Amphi Property and any future exploration programs at Fourax will be intimately tied to mining and exploration activities at the
East Amphi Property.

(2) McWatters considers Fayolle and Barraute Gold projects to be exploration properties, even though the properties contain indicated and
inferred resources.

(3) The Barraute Gold and Barraute Exploration projects, located 50 kilometres north of Val-d'Or, were optioned by McWatters for a five year term
at 90% to Phoenix Matachewan Gold Mines in exchange for shares of that company and exploration work totalling $500,000, spread over five
years. McWatters retained a back-in option to repurchase a 40% interest in the Barraute Gold project, under certain conditions.

(4) On July 30, 2001, McWatters entered into a property exchange agreement with Globex Mining Enterprises Inc. ("Globex"), Géoconseils Jack
Stoch Ltée ("GJSL") and Jack Stoch, whereby McWatters exchanged its Ramp Vein property and its 50% interest in the Black Cliff/Abior
property for the Aumaque Mining Concession held by Globex, the Kiena West property by Jack Stoch and the elimination of a 2% NSR royalty
on the McWatters Audet-Stoch property held by GJSL.

http://www.sedar.com.....at\AifEng.pdf
---

ATTENTION: All MWA Long Shareholders...


The shareholders should Demand to have the
fire-sale Void and Nullified Immediately!!!

Please, contact all Long Shareholders a.s.a.p....

Corporate America is under siege!
Not by terrorism, but rather by an unethical

- market practice that is destroying emerging
public companies and undermining the trust
of small investors...

McWatters Mining Raided by corporate-pirate
McWatters Mining Inc. (MWA:TSX) Raided by corp.piracy...

Kiena Mine Gold Reserve:
Total Res. Au 1,296,000 ounces of Gold
the ore valu at $380 x 1,296,000 = $492,480,000.00

..deduct the average Kiena production cost
of about $240/oz x 1,296,000 = $311,040,000.00

...and the profit would be...
$492,480,000.00 - $311,040,000.00 = $181,440,000.00

SOLD FOR $3 mil. / 2% of Market Value???


Chrisdee, you are right 100%, its a robbery/fraud of high scale...

SUBJECT: mining the shareholders Posted By: Chrisdee

Sell the good mine for a low price in order
to keep the low grade mine going. Smart.
Just about as smart as having a bunch of promissory
notes convertible into convertible debentures.
Managment here is in the business of mining
shareholder value.
The grades on the present mine are much lower
then what was reported.
It is much cheaper to mine shareholder equity
then mine low grade gold ore.
No funds for drilling required.
---

For MWA Investors Highlights
Kiena Complex Highlight

Ounces produced McWatters Mining Inc. (MWA:TSX)
— — 12,044 15,994
Cash operating cost (US$ per ounce)
— — $ 214 $ 224
Total production costl (US$ per ounce)
— — $ 237 $ 255
Last updated on September 9, 2003 (ND)


http://www.mcwatters...peedSet-03.html

Post-reorganization
Pre reorganization


Three months
ended
June 30, 2003 Six months
ended
June 30, 2003 Three months
ended
June 30, 2002 Three months
ended
March 31, 2002


(unaudited) (unaudited) (unaudited) (audited)
PRODUCTION
Ounces produced
17,029 17,029 12,044 15,994

Average realized price per ounce sold (US$)
$ 354 $ 354 $ 303 $ 298

Cash operating cost (US$ per ounce)
$ 335 $ 335 $ 214 $ 224

Total production cost (US$ per ounce)
$ 424 $ 424 $ 237 $ 255


FINANCIAL RESULTS (thousands)

Revenues ($)
$ 8,356 $ 8,356 $ 5,746 $ 7,713

Mine operating income (loss) ($)
(1,673) (1 681) 1 176 1 162

Operating income (loss) ($)
(3,175) (4 480) 462 (3 202)

Net income (loss) ($)
(3,463) (4 720) 663 (3 977)

Cash flows used for operating activities ($)
4,475 (719) 930 (216)

Per share
Loss ($)
$ (0.01) $ (0.02) $ 0.00

Cash flows used for operating activities ($)
$ 0.01 $ 0.00 $ 0.00

Weighted average number of shares
outstanding (thousands)
447,700 335,591 182,319


PRODUCTION STATISTICS
Sigma-Lamaque Complex
Ounces produced
17,029 17,029

Tonnes milled
326,114 326 114
Grade milled (g/t Au)
1.71 1.71
Recovery (%) 95% 95%
Cash operating cost (CAN$/t)
$ 24 $ 24
Cash operating cost (US$ per ounce)
$ 335 $ 335
Total production cost (US$ per ounce)
$ 424 $ 424

Kiena Complex

Ounces produced
— — 12,044 15,994
Cash operating cost (US$ per ounce)
— — $ 214 $ 224
Total production costl (US$ per ounce)
— — $ 237 $ 255

Last updated on September 9, 2003 (ND)

Quarterly Report 2
For the six months ended June 30, 2003
All figures are in Canadian dollars unless otherwise indicated
SECOND QUARTER PRODUCTION AND FINANCIAL RESULTS;

UPDATE ON KIENA EXPLORATION OPERATION
MANAGEMENT’S DISCUSSION AND ANALYSIS

KIENA EXPLORATION – 750,000 OUNCES OF INDICATED GOLD RESOURCES

In January 2003, the second phase surface diamond
drilling program was undertaken on the ice of
Lac DeMontigny to follow up on the promising results
of the 2002 underground campaign.

Beginning January 20th, 23 holes for a total
of 8,222 meters were drilled during Phase II,
primarily on the P Zone, with lesser amounts
on the S-50 Zone.

The program was completed in March 2003
and geological
interpretation and 3-D modeling
were completed in June 2003.

The 2002-2003 exploration campaign was very successful
as can be ascertained from the following
updated resource calculation:

A new resource calculation combining results
of the 2002-2003 phase I and phase II
exploration campaign
that was recently completed
yielded indicated resources
(at a 2 g/t Au cut-off grade)

of 6,863,500 tonnes at
3.40 g/t Au for 750,000 ounces of gold,

and inferred resources
(at a 1 g/t Au cut-off grade)
of 6,667,000 tonnes grading 2.55 g/t Au
for 546,000 ounces of gold

for the S-50,
the P and R Zones.

All of these resources
are located above level 54
(540 meter depth) and
near existing underground infrastructures.

http://www.mcwatters...h/pdf/Q2_03.pdf

About McWatters

McWatters is a Canadian junior gold producer
with reserves of approximately 1.4 million ounces of gold
and total reserves and resources of
approximately 3.2 million ounces of gold,
not including inferred resources of 3.5 million
ounces of gold.

The Company’s principal assets are the Sigma open-pit mine,
the East Amphi Project and the Kiena Complex,
all of
which are located in the prolific gold-producing Val-d’Or –
Malartic Mining Camp of Northwestern Quebec.

Since 1997,
McWatters has produced a total of 650,000 ounces of gold.

McWatters announced in March 2003, the closing of two
strategic acquisitions designed to increase its asset base
and
pave the way for improved production efficiencies.

McWatters acquired SOQUEM’s 40% interest in the Sigma-
Lamaque mine and also acquired from Barrick,
the East Malartic ore processing mill and related
properties near
McWatters' East Amphi property.

The Company’s strategic goal is to become one of Canada’s
premier junior gold producers with several producing
mines and a strong portfolio of high-potential properties.

Within the next few years, based on the reserves and
resources currently identified on its properties, it is not inconceivable that McWatters could be producing close to
300,000 ounces of gold a year

TO ALL SHAREHOLDERS:

How many of the above Promises And Stated Commitments
to the Shareholders:

By MWA. RE: TO the last Quarterly Report 2

For the six months ended June 30, 2003..

has today been broken:

By MWA: Sale Of The Company’s Principal Assets of
The Kiena Mine Complex???

Has a company Raider - (thief fraud expert) taken the
helm of the MWA???

Imo. its a fire sale of a company pirate-raider!!!

Imo. The shareholders should Demand to have the
fire-sale Void and Nullified Immediately!!!

loup99. thx for your opinion,
its important to hear, what all Shareholders
think about the piracy of McWatter's hard
Gold Mining assets!

Btw. I am not a shortseller!

I am a Long time MWA shareholder.

loup99, I don't define any robbery/fraud as a progress,
and not raid by corp.piracy...were the fire-sell
the richest Gold assets of MWA for peanuts...
the above Reports (eng. by drilling) state
a reserve of:

KIENA EXPLORATION OPERATION:

Res. Au for 750,000 ounces of gold,

and inferred resources

Res. Au for 546,000 ounces of gold

Total Res. Au 1,296,000 ounces of Gold
the ore valu at $380 x 1,296,000 = $492,480,000.00

Ounces produced McWatters Mining Inc. (MWA:TSX)
— — 12,044 15,994
Cash operating cost (US$ per ounce)
— — $ 214 $ 224
Total production costl (US$ per ounce)
— — $ 237 $ 255
Last updated on September 9, 2003 (ND)

...deduct the average Kiena production cost
of about $240/oz x 1,296,000 = $311,040,000.00

...and the profit would be...
$492,480,000.00 - $311,040,000.00 = $181,440,000.00

...even the past drilling cost for...
The 2002-2003 exploration campaign was very successful
as can be ascertained from the above
updated resource calculation.

...was higher than the fire-sale/robbery/piracy-fraud...
of all of the infrastructure incl. the Kiena Gold Mine!!!

To All Shareholders: Wake Up and get the corp.-raiders OUT!!!
...to behind bars were they belong...
Imo. TIA!


SUBJECT: RE: !st phase of
stockpicker, has they hired consultants to help
(brain dead) mwa mngt. to explain-hold
hand-how to run mine
at profit-cause we just over-paid
paper weights
trying to avoid

some class-action suits.?

please, explain more...

the junior miner said it had hired

Dundee Securities,,,

'to advise it on strategic options'in the wake of
the closure of the Sigma-Lamaque open-pit mine,
its main producing asset.,,,

At Sigma-Lamaque, 'expenses ha...

investors and market professionals...

http://securities.stanford.edu/

http://securities.st...edu/settle.html

http://www.alexander...tion-cases.html

http://www.seclaw.com/Welcome.shtml

http://www.seclaw.com/linkintr.htm

RE:
Avoid being taken to the cleaners!
Check out these resources on investment fraud...

http://www.formerabo...stmentfraud.htm

TIA. incl. also;
http://www.osc.gov.o...complaints.html

http://www.sec.gov/complaint.shtml

Advancing the Rights of Investors

http://www.stock-research-fraud.com/

Stock Research Fraud.com

Has Toronto has a problem with too
many Pro-bags?...

http://www.kipnotes....andalsFraud.htm

,,,its up to the authorities to Clean up
the Bay Street,,,

Stock Research Fraud.com

http://www.osc.gov.o...complaints.html

http://www.sec.gov/complaint.shtml

file the above complaints a.s.a.p.

Note. The GOLD derivatives are EXPLODING now and we
might just GO*^^^^^

straight to and through not only $400 but $500,
$600, $700 and UP...

That is how it happened at the end of 1979.

MWA,,,Oversold/Undervalued

,,,history repeat itself,,,

Ninety-eight percent of the adults are decent
hard-working honest Canadian.
It's the other
lousy two percent that get all the publicity.,,

Dundee Securities Corp. will pay $150,000 in investigation costs
to the province's stock market regulator and review
for prev. crap pulled...

http://www.thestar.c...ol=969048863851

BEWARE!!! Dundee bs.

Bre-X's bankruptcy trustee, Deloitte & Touche Inc.,
has won a court order obliging Dundee
to turn over all of Mr. Felderhof's trading records
for closer scrutiny...

http://rrsp.canoe.ca...hofftrades.html

Note. MWA has hired a foreign...consulting firm...and it has
received the preliminary report of RSG Global Pty Ltd,
an mining consultancy, which is a big slap in the face
to all Canadian Mining Consult firms, its like telling
the Canadian Mining firms, that you aren't good enough!
Imo. Tia.

Investors were shattered after
some $6 billion worth of stock value
in Bre-X became worthless when it was
revealed,,,

http://acmi.canoe.ca...extrial-cp.html

Top analyst at / of J.P. Morgan & Co. Inc.,
in New York, one of nine U.S. and
Canadian analysts who last...
is a conservative guess
as to what Bre-X will ultimately come up
with,"
he said,,,

http://web.archive.o.../media/fp06.htm

...that's about all they have brains
to.. and ABSOLUTE NOTHING OF VALUE!!!

Corporate America is under siege!
Not by terrorism, but rather by an unethical
- market practice that is destroying emerging
public companies and undermining the trust
of small investors...

Ps.

Don't ever allow - market practice
that is destroying emerging
public companies and undermining the trust
of Long Investors Shareholders...

IN GOD WE TRUST

Imo. TIA!