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Sep 8, 2010

NASDAQ: Latest Forex News & Comentary. Sep 8th., 2010


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MarketWatch: Special Financial Services: Goldman's Hedge Fund Factory Winding Down: Sep. 8th., 2010

By Alistair Barr MarketWatch

As Goldman Sachs Group winds down its Principal Strategies group in response to a law that limits banks' abililty to trade with their own money, the firm will be shutting a business that's produced some of the most successful hedge fund managers in the world. 

Mining Interactive : Mawson Resources CEO Michael Hudson Interviewed by - on-the-record questions and answers. Sep. 8th., 2010

September 8, 2010

Mawson Resources CEO Michael Hudson Interviewed by - on-the-record questions and answers

Dear Friends:

The following interview with Michael Hudson, CEO of Mawson Resources and on-the-record questions by provides an excellent update of the Company and answers most of the questions that I receive daily from investors.
Nick L. Nicolaas
Mining Interactive "Ahead of the Pack" Since we reintroduced Mawson to our clients and readers, the stock is up 100%, fuelled by the company’s deployment of its large cash holdings into new projects, most notably two highly prospective gold properties.  Can you tell us about the company’s current focus?

Michael Hudson: Mawson is a gold and uranium exploration company focused in Scandinavia and Peru.
The current project focus for the Company is the Rompas project in Finland, a new discovery with bonanza gold where samples up to 12,800 g/t (373 oz/ton) gold and 43.6% uranium have been identified.   In addition, the Company is exploring for gold and copper in the highly prospective Cordillera of Peru (true “elephant” country), with a focus on a new high grade gold discovery at Alto Quemado.

Areva NC, holds 11% of Mawson on the basis of the significant hard rock uranium resources and exploration projects held by Mawson in Scandinavia.   Mawson has many drill-ready uranium targets to be tested. Could you give us your best estimates regarding the timetable of exploration milestones for the two gold projects? (Specifically field work and when it will be done, airborne geo, drilling and further sampling)

Michael Hudson: Substantial field teams are already working in Finland and Peru and will create a steady stream of data and news flow for the remainder of 2010.

At Rompas, the work program is focused on the 6km Au-U mineralized discovery trend to outline the extent and controls on mineralization and define the highest priority drill targets.  In addition, work is underway to discover additional mineralization elsewhere within the Company's extensive 95,000 hectare land holding.  Thousands of soil and rock chip samples are currently being collected together with mapping and further prospecting.  A 3,200 line km airborne geophysical survey will commence in late August.

Being such a new discovery, the permits at Rompas remain in the application stage, although being 100% secured.  During the application stage we cannot drill and trench, but can perform all other forms of exploration. Mawson is working with the Finnish authorities to clarify timing of granting.

In Peru, a team of 12 is busy mapping and sampling the high grade structures and porphyry target zone at surface and underground for the first time.  This program will define drill targets.  The Company aims to seek permission to drill these targets in 2011. Where do you see Mawson in the next12 months? 24 months?

Michael Hudson: Exploration is an enticing business that can change dramatically with one result in the very short term, as evidence by the renewed interest in Mawson and its Rompas property.

Nevertheless, our vision is simple.  At Rompas our desire isto outline a major gold discovery.  Initial surface indications of the grade of grab samples taken over a 6km trend are very encouraging; however a lot of rigorous and diligent exploration work remains in order for Mawson to succeed in its vision.

Similarly in Peru the vision is to make a major discovery to create large upside for Mawson investors.  At Alto Quemado we have two targets on the one property: the porphyry zone and high grade gold structures.  We aim to increase our exposure through Peru given Peru’s “elephant country” status to host world class ore bodies.

Additionally the company holds significant NI43-101 uranium resources in Scandinavia.  The Hotagen district in Sweden remains the most promising with 100’s of ore-grade uranium outcrops around the 3.3Mlb indicatedNI43-101 resource at Klappibacken.  Further exploration will be required to build on the known resource base. Where does the company’s treasury currently stand at? Is that amount cash or other highly conservative instruments…in other words, no high yield commercial paper, correct?

Michael Hudson:
We hold +$9M cash in a Tier 1Canadian bank with no exposure to commercial paper.  Additionally the company holds shares in Canadian and Australia listed exploration companies as a result of property transactions which are currently valued at around C$0.6M. What can shareholders expect regarding expenditures for the year?

Michael Hudson: Over the next year we should spend in the order of C$3.5M with a focus on both Rompas and Alto Quemado. Will Mawson need to raise money in the near future?

Michael Hudson: Mawson is well funded and we do not need to raise funds in the short term.  However we never rule out the opportunity to raise further cash at an appropriate moment. As a percentage, where will Mawson be spending exploration dollars in the next 24 months?  First by country, then by target (i.e., uranium, gold, etc.).

Michael Hudson:
Finland gold 55%
Peru gold and copper 30%
Sweden uranium 15% It seems the story regarding Mawson seems to be getting out, stock up over 100%, and share volume surging.  Has Mawson been alerted regarding any new large shareholders?

Michael Hudson: We have had a lot of recent interest in Mawson with the addition of Areva as a major shareholder and the announcement of the Rompas property.  Areva’s investment provides an underlying credibility to both the Company and management while Rompas provides a compelling early stage exploration story. What investor shows will you be attending if any, over the next year?

Michael Hudson: Mawson will have presentation booth sat least at the following conferences over the next 7 months:

New Orleans Gold Show – Oct 2010
San Francisco Hard Assets Conference – Nov 2010
Vancouver Hard Assets Conference – Jan 2011
PDAC Toronto – March 2011

We will review our IR planning post March 2011. Is the deal in Peru closed yet, has Mawson formally taken title to the project?

Michael Hudson: We closed 93% of the deal on Aug 4th2010.  We are aiming to close the remaining 7% shortly. What is management’s shareholding in the company currently at, not including options?

Michael Hudson: 12% What do you make of the recent rise in U3O8 pricing?

Michael Hudson: The recent uptick has broken a yearlong down trend so that is a positive.  There is also much discussion over the last few months that there are more buyers seeking long term off take agreements with near or current producers.  I do not think anyone questions the rationale behind the next uranium boom – the only question remains the time for demand dynamics to overwhelm the current primary and secondary uranium supplies. Do you think the small guy can bring a project from exploration to production alone in the current environment?

Michael Hudson: It all depends on the type and scale of project including but not limited to potential capex and payback.  Mawson has partnered with Areva, the natural partner to bring any potential future European uranium mines into production. It seems China has a huge appetite for Australian miners and explorers and have built up some relationships in that country over the years.  Does Mawson have any connections with China, or open avenues?

Michael Hudson: We are in contact with a variety of groups, obviously Areva for uranium and we have had a lot of interest from a variety of groups interested in learning more about our gold projects in Finland and Peru.
At current levels, do you think Mawson is undervalued, fairly valued, or overvalued?  And why?

Michael Hudson: Mawson is well financed with a diverse range of exciting mineral properties from grassroots to resources projects in stable mining friendly jurisdictions known to host large ore bodies.  Mawson has momentum and with results just starting to flow, there is a lot of potential upside that remains to be unlocked. Do you see further industry consolidation in the years ahead?  If so, who do you think the players will be(consolidators and sellers)?  How does Mawson fit into this picture?

Michael Hudson: The mining industry is all about scale and consolidation.  The industry is now dominated by a few major players– with a vacuum created in the mid tier level.  This creates great opportunities for the next level of juniors who will fill that vacuum – and that is where Mawson sees itself moving as it develops its projects. Could you update us on the current political situation regarding exploration and development in the jurisdictions in which you have projects?

Michael Hudson: I think this is best answered by one graph which shows Mawson is exploring in 3 of the top 20 countries on a worldwide basis, including in Finland which ranks at number 3 on the last Frazer Institute Annual Company Survey Could you give us an update on where you feel the uranium price is headed over the short, medium and long-term? Both the spot and long-term contracts.

Michael Hudson: There are currently 438 nuclear power plant units, 61 plants under construction and 316 nuclear power plants planned or proposed so the long term bullishness regarding uranium demand is well founded. There remains a long term contango in the uranium market with long term prices still much higher that spot prices and many people predict these prices to converge over the medium term.  I think we are starting to see some short term demand for tying up uranium supplies and this is perhaps reflected in the upward movement of the spot price.  Another key factor will be the cost to produce a Lb of uranium in the future.  I do not know of many proposed mines that will be able to produce under $60/lb cash cost so this will also positively affect the uranium price resistance level. Also, regarding Europe, what are the current feelings regarding nuclear power?  If memory serves me correctly, the Swedes and Germans were talking about allowing some of their older plants’ licenses to lapse and wind down their nuclear operations, and then there were reports that maybe this was not such a great idea.  Have you heard anything concrete about plans for the future?  Will we see new plants built outside of France beyond what is currently planned, or will investors have to count on the Asians and Brazilians to increase demand through expansion of their nuclear power industry?

Michael Hudson: The Nordic countries are undergoing a nuclear renaissance. The politics of uranium have moved favorably since we first commenced our uranium operations in 2005.  Some major recent highlights from Sweden, which derives close to 50% of its power needs from uranium, include:

•    June 2010: Sweden's parliament passed a landmark government proposal allowing the replacement of nuclear reactors at the end of their life span. The plan entails that new reactors can be built at the same site as today's three existing plants when they wind down, but no new sites will be approved and the number of reactors in the Scandinavian country will not be permitted to exceed 10.
•    September 2009: Swedish Prime Minister Fredrik Reinfeldt says he is not against uranium mining in Sweden - a deviation from his conservative moderate party's earlier negative standpoint and the views of some anti-nuclear power critics in his own center-right government.

In Finland, where nuclear power accounts for 27% of electricity, a similar trend has been noted:

•    In July 2010 and within three weeks of the Swedish parliament permitting new atomic power plants from 2011, Finland's legislators have given the go-ahead for two new atomic reactors (
•    In Feb 2010, Talvivaara Mining Company PLC (LON:TALV ) applied to the Finnish government for a permit to extract uranium as a by-product at its Talvivaara nickel and zinc mine in Sotkamo, eastern Finland:
66% of the public surveyed from a group of 1000 people backed Talvivaara's plans to begin uranium extraction: As always Michael thank you for your time.


Stay Closely Tuned for more news from Mawson - - - an exciting
Metals (Gold) & Energy (Uranium) Company!!!


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Stay tuned for the most recent updates on Mawson Resources and other leading mining companies through the MiningInteractive Video Interviews.
Nick L. Nicolaas
(604) 657-4058

MarketWatch: Personal Finace Daily :Condo owners may be ruing their decision to buy. Sep. 8th., 2010

Personal Finance Daily
SEPTEMBER 08, 2010

Wednesday's Personal Finance stories

By MarketWatch

Don't miss these top stories:
Buying a condo is supposed to make homeownership easier. Repairs and maintenance costs are built into the monthly dues in general, and often so too are the costs for garbage, sewer and many other expenses. All you do is write a monthly check and the association manager takes care of the chores -- and the headaches.

These days, that's a little less likely. During this economic downturn, as more homeowners fall behind on their dues, some condo associations are struggling to get by.

That means they're coming down hard on homeowners -- and not only those who are behind on their payments. If a homeowners group needs money, they're likely to raise assessments on everyone. They're also apt to fall behind on important building maintenance and repairs. Read Amy Hoak's Home Economics column today for more on what's happening to condo associations and the homeowners who live in them.

And there's another problem: People who live in a building that's got a lot of late-paying homeowners are likely to find lenders won't approve them for a refinance loan. In these ultralow rate days, that's gotta hurt.

-- Andrea Coombes , Personal Finance editor


Financial crisis hits condo associations

People often buy a condo unit partly because they don't need to worry about cutting the lawn or fixing the roof -- their condo association takes care of maintenance and repairs for them, with those services paid through homeowner assessments each month. At least, that's the way it's supposed to work.
See Amy Hoak's Home Economics on financial crisis hits condo associations.


More people advised to get flu vaccine

Seasonal flu vaccines are available earlier and in greater supply than ever before. They also include H1N1, or so-called swine-flu protection, and this year U.S. health authorities recommend them for everyone over 6 months old.
See story on more people advised to get flu vaccine.


Commentary: It's time to consider high-dividend paying stocks

This week, many children are heading off to school, and as parents wave goodbye to their kids, most are likely wondering how they'll pay the mortgage let alone pay for college.
See story on it's time to consider high-dividend paying stocks.

Commentary: What stocks would gain from deflation?

The specter of deflation once again reared its ugly head on Tuesday, contributing to a big tumble in the stock market.
See story on what stocks would gain from deflation.


Cool summer delays wine-grape harvest

Recently, there was a collective cheer over California's Napa Valley wine region when famed sparkling wine producers Mumm and Schramsberg finally began harvesting their grapes.
See story on cool summer delays wine-grape harvest.


America can't afford tax cuts for wealthy, Obama says

The United States can't afford extending Bush-era tax cuts for the wealthiest Americans, President Barack Obama said Wednesday, even as he called for giving tax breaks to middle-class Americans in a fiery election-year speech.
See story on America can't afford tax cuts for the wealthy, Obama says.

Commentary: We're in the double dip; that's good news

The Federal Reserve's Beige Book pretty much confirmed it, in case anyone was still unsure. The long-feared double dip is here.
See story on we're in the double dip; that's the good news.

Inspiring confidence is toughest job

The staggering U.S. economy finally has attracted the attention of policy makers in Washington, who seem more inclined in recent weeks to do more to help workers and businesses.
See story on inspiring confidence is toughest job.

Fed economic survey sees slowdown

U.S. growth slowed over the summer, but some sectors such as agriculture and manufacturing held up better than others, according to the Federal Reserve's latest report on the economy.
See story on Fed economic survey sees slowdown.

Republicans gaining momentum in the polls

There is a lot of metaphorical curtain-measuring going on now that Labor Day is past and midterm elections are less than eight weeks away.
See story on Republicans gaining momentum in the polls.

Finger-pointing abounds after BP's report

Finger-pointing was the order of the day among contractors named in the BP PLC report released Wednesday, as both Halliburton Co. and Transocean Inc. lashed back at their partner over the report on the Deepwater Horizon rig that failed, killing 11 workers and spewing millions of gallons of oil into the Gulf of Mexico.
See story on finger-pointing abounds after BP's report.

CNBC Evening Brief : What the Fed Can Do to Tighten the Money Supply. Sep. 8th., 2010


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