Success is a shared endeavor. To create a successful mining exploration company you need to combine technical excellence, determined leadership, hard working management with strong, clear messaging and solid investors both on the institutional and retail fronts. Companies are strongest when there is a strong partnership, good communications and common interests between management and stakeholders.
Our most recent effort, West Timmins Mining which was sold to Lake Shore Gold in November of 2009 in an all share deal valued at $424 million, was a successful blend of all of these elements. In Balmoral we will look to continue to build on the relationships we forged in the past and to bring new shareholders to the Company.
We will apply the same district scale, aggressive drill and model focused style of exploration to Balmoral's project portfolio that has characterized the other successful companies with which we have been associated over the years. "Growth through Discovery" is our goal and to make a discovery a company has to be active and innovative.
The majority of our project portfolio is located in the province of Quebec -- a jurisdiction which combines an extraordinary mineral endowment with one of the most mining friendly legislative frameworks in the world. We are keenly aware that it is your hard earned dollars that we are utilizing in our search for the next major gold discovery in the Abitibi and we believe in limiting political risk by working in mining friendly jurisdictions like Quebec and Ontario. We will continue to maximize the number of dollars that go "into the ground" while maintaining an active investor relations campaign. We strive to be available at all times to answer your calls and emails and to remain accountable to our shareholders.
We look forward to the months ahead and suggest that you check back often for updates on our project and activities.