MGMX is at a 52 week low and recently filed a 15c-211 confirming its recent aquisition, its intent to aquire another mine and that they are mining gold as i write this (as opposed to planning to mine sometime in the indefinite future). investor relations has recently stated that they have "no plans to increase or reduce the amount of shares within our company" and stated its share structure as:
Authorized 800,000,000 Outstanding 400,000,000 Public Float 180,000,000 Restricted 220,000,000
they have also provided the contact information for their transfer agent so anyone who is interested can confirm this themselves and not take anyone's word for it: Heritage Trust Company, based in Toronto, Ontario. Phone number 416-363-1240."
i have heard from an ernest though unofficial source that there is a PR planned for 2morrow...take that for what you will...
all in all, especially with the prices gold is trading at, this is a great play right now. the price of .016 is a giveaway in my humble opinion....good luck to all Posted by jdg257 on :
this price is so low and is going to bounce big
Posted by scot trade on :
but anyway you throw some light on that stock. I'm in at .0175 and still keeping. The news can make it 2x-4x bagger. Hope for better future Posted by scfraser1 on :
was this thing really at $60 in december?? My scottrade quote show that.
Posted by sidestyle on :
here is a new report from pinksheets.com
how many pink companies give you up to date financials?!
this will go up real soon...they make a profit and our a gold company ( 2 great things)...
most pennie stocks are unprofitable and never will be
***do your homework****
Ohio_Trader
Posted by GirlsGoneDocile on :
I'm going to limit myself to $400 on this, as it is a pink, but it looks like a damn good play. Any idea what has caused it to drop so much? I'm still looking into it.
Posted by ohio_trader on :
Good move GirlsGoneDocile.....
IMO you wil be very happy with this in the short term
GOLD, GOLD, GOLD
Posted by PEP on :
Just got some more shares, initially in at .02.
Posted by miami trader on :
is this stock or what any dd
Posted by miami trader on :
is this stock good or what any dd
Posted by ohio_trader on :
quote:Originally posted by sidestyle: here is a new report from pinksheets.com
how many pink companies give you up to date financials?!
they make $$$ and are profitable right NOW....how many pennies can say that ?
wait until the geological report hits !!!!
GOLD, GOLD, GOLD
it will go back to .08-10+ range in a snap..
***do your homework***
Ohio_Trader
Posted by sidestyle on :
i agree ohio_trader...we seem to be holding steady at this price range so i think this is a solid entry point for those sitting on the fence. their last pr said they had signed a letter of intent to aquire a new gold mine and would be finalizing before the end of may....by that timeline we should hear something anytime.
without any geo data it should run up a bit then retrace back down until we hear officially what their holdings consist of...a great opportunity to flip for free shares....they are demonstrating already that they have their **** together as far as reports go so we should be getting what we want as soon as they have it....
Posted by sidestyle on :
Gold Company Opens New Offices, Launches New Website and Finalizes Permits for the Manantiales Property TORONTO -- (MARKET WIRE) -- 06/01/06 -- Metro Gold Mines Mineral Resources Inc. (PINKSHEETS: MGMX), a growing gold mining company engaged in the acquisition and development of production properties in South and Central America, has expanded operations by opening new offices, launching a new corporate website, while moving forward with La Esperanza and Manantiales properties. "We have been overwhelmed over the last few weeks," said Kenneth Lamb, President of MGM Mineral Resources. "Due to many ongoing aspects of our business and the exciting developments on our properties, we neglected some of our administration duties. These are all symptoms of growing pains from a Company that is rapidly expanding. We feel that we have addressed these issues and now our team is ready to help create shareholder value. I feel our shareholders will be pleasantly surprised when our full story unfolds over the course of the next few months." MGM Mineral Resources has established corporate operations in both Colombia and North America. The company can be contacted at its offices in the following locations: North American Office 1 YONGE STREET SUITE 1801 TORONTO, ONTARIO M5E 1W7 TEL 416-214-7847 Colombian Office CARRERA 46 # 7 - 227 MEDELLIN, COLOMBIA TEL 574-325-7818 The company has also launched a new website, which can be viewed at: http://www.mgmmining.com The new site offers expanded functionality and the latest information regarding new acquisitions, current operations, management, corporate objectives and the rich gold zone in Colombia where MGM Mineral Resources is mining. In addition, the company continues to work with Pink Sheets in order to resume quotation services on Pink Sheets. Mr. Lamb continues, "All information has been filed, translated and finalized in attempts to reach full quoting status on Pink Sheets. Unfortunately due to the abuses of certain shareholders we have been put in a position of going above and beyond the norm in regards to disclosure. As a company, we are fine with this and will apply this higher standard in all our future correspondences with shareholders and with the investment community. This will only strengthen our visibility of being a Company committed to building shareholder value and in becoming a responsible and respected issuer." Such things have not stopped the Company from their onwards push to success, as they have continued updating the 15C211 form and can be found listed on Pink Sheets. In fact, they have posted the first quarter results from 2006. "Based on our constant updates of the 15C211, our shareholders will see that Metro Gold Mines is immersed in operations. Our Company is finalizing all property negotiations, while attaining and securing the necessary mining permits with Manantiales," said Jairo Giraldo, C.E.O. "We would like to complete the transaction and turn the Letter of Intent into a confirmed acquisition." Mr. Giraldo added that the transaction will be completed within the week. There are also additional administrative changes that have occurred within the company pertaining to new staff. This includes finalizing a contract with another highly experienced, well-renowned Geologist to work on the present mines, as well as all future acquisitions. Specific information will be released when the contract is secured. "We are growing rapidly," said Kenneth Lamb. "Establishing international operations, executing marketing programs including the creation of a leading edge website are just a few of the objectives we have outlined in our growth strategy. These accomplishments will enable us to increase productivity, streamline operations and communicate more effectively with shareholders." About MGM Mineral Resources (PINKSHEETS: MGMX) Metro Gold Mines Mineral Resources Inc. is a growing, expertly managed gold mining company focused on acquiring and producing an impressive portfolio of exploration and production properties in South and Central America. MGM Mineral Resources is working to establish itself as a world-class gold company, capitalizing on smart acquisitions, breakthrough technology, modernized operations, deep industry expertise and a strong gold market to cost-effectively produce high quality gold. The company has identified a significant opportunity to exploit proven but under-developed mineral resources in Colombia. It has acquired La Esperanza Mine and Manantiales Mine in Colombia's highest yielding municipality and is in the later stages of negotiations with several high-grade gold and silver properties. MGM Mineral Resources is initially targeting the richest gold zone in Colombia,where between 60 and 80 percent of the nation's gold is produced. For more information, please visit http://www.mgmmining.com Forward-Looking Statements Statements contained in this news release, which are not historical facts, are forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995 that involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things: volatility and sensitivity to market prices for gold; replacement of reserves; procurement of required capital equipment and operating parts and supplies; equipment failure; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; imprecision in reserve estimates; success of future exploration and development initiatives; competition; operating performance of the facilities; environmental and safety risks including increased regulatory burdens; seismic activity, weather and other natural phenomena; failure to obtain necessary permits and approvals from government authorities; changes in government regulations and policies including tax and trade laws and policies; ability to maintain and further improve positive labor relations; and other development and operating risks. Although MGM Mineral Resources believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this report. The company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Contact: Mr. Kenneth Lamb 416-214-7847 President
Posted by sidestyle on :
this company is unbelievable! i'm amazed i got shares this cheap!! it's going to be a hell of a summer Posted by PEP on :
Looks like good news.
Posted by ohio_trader on :
moving up !!
Posted by newdanny on :
164. volume increasing too.
Posted by hawkdriver on :
i'm in looks like a good summer here. Hopefully they start exporting gold this month.
Posted by newdanny on :
ok it came back to .016, a shake?
Posted by Mule on :
I keep shaking my head and saying to myself where are these people who are selling this stock at .0150 and .0160 getting these shares? They didnt buy them at .0180 or .0190. Were they left over from when it was a different company name? I am puzzled
Posted by ohio_trader on :
bought more .....
Posted by ohio_trader on :
up 13%.....keep moving up !!!!!
Posted by BULListic on :
Shakerzzz play....I'm in for 100k....
Posted by scfraser1 on :
This is going to fly! Very hard to get filled right now.
Posted by ohio_trader on :
WAY UNDERVALUED !!!!!
Posted by ohio_trader on :
up 23% this could double today folks !!!!
Posted by Stockman13 on :
Yup i just barely got filled. this is going to run.
Posted by superman7 on :
shakerzzz says this will be a triple from here, he is going to push this hard it was a very hard fill from .016 to .018 i chased and finally filled may buy more
goodluck
Posted by billjohnson on :
Stock is flying, looks like .02 is ready to go!!!!!!!!!
Posted by ohio_trader on :
keep rolling baby....
Posted by billjohnson on :
breakout above .02 maybe we get some huge news soon!
Posted by Stockman13 on :
its getting ready to launch.
Posted by billjohnson on :
these ask are getting taken out left and right no one to hold this thing back, shaky holders got shaken out!
Posted by billjohnson on :
Here we go how long can this keep up are we making a run for .03??????
Posted by ohio_trader on :
up 53% now WOW !!!!!
Posted by Stockman13 on :
hell ya we are...haha
Posted by jdg257 on :
look at the chart...the skies the limit on this thing, it should be trading at a quarter easy according to the charts, it may not hit that soon but eventually.
Posted by ohio_trader on :
mm's off guard alot of 5,000 signals LOOK OUT !!!!!!
Posted by scfraser1 on :
the shake is on!
Posted by Stockman13 on :
damn mm's
Posted by billjohnson on :
Big week coming up for MGMX time to prove yourself!
Posted by billjohnson on :
Screw the MM's they gonna get burned, 1/2 billion dollar gold mines do not lie, they start selling gold soon, filing was a blessing, people gaining more confidence in the stock!
Posted by scfraser1 on :
here it goes guys!!
Posted by superman7 on :
damn i cant buy even when i put higher then the ask is anyone also having this problem so far i have 250k looking for another 300k
i am going in big on this one
Posted by scfraser1 on :
I can't get more for .021
Posted by hawkdriver on :
Sorry guys, I had to sale. 43% just kept beating in head. I am going try to get back in soon.
Posted by hawkdriver on :
had to sell^^^damn that looks dumb i need to go back to scoool
Posted by superman7 on :
there are so many buys coming and still its heading down, stupid mms lol
this will run soon
Posted by scfraser1 on :
How does the L2 look?
Posted by hawkdriver on :
They look bad,,,,sell me your shares quick before you lose all your money. LOL,, I kid, I kid.
Posted by superman7 on :
.019 by .02 1 by 3
Posted by Vagabond on :
quote:Originally posted by superman7: damn i cant buy even when i put higher then the ask is anyone also having this problem so far i have 250k looking for another 300k
i am going in big on this one
LOL
Vagabond
Posted by sidestyle on :
i've heard the float is gone...don't get shaken out. a lot of people don't like to hold through the weekend but i wouldn't sell until the pr on the aquistiion hits next week. they have a good track record on reporting and the pr yesterday said they would be completing the aquistion of the new mine next week
Posted by stockinthemud on :
It's acting as if the float is gone...maybe we'll hit $10 today!!
Posted by sidestyle on :
there is a rumor that this will be *********'s pick on monday...
take this as what it is....a rumor
Posted by scfraser1 on :
This should be an interesting eod!!!
Posted by scfraser1 on :
.029 at close
Posted by superman7 on :
i want more more more more lol
Posted by scfraser1 on :
we might get superman!!!! up up and away!!!!
Posted by superman7 on :
i think we see .03 on the close give or take a .001 or .002
Posted by scfraser1 on :
i small shake here??
Posted by superman7 on :
yes its time for me to pull out my wallet again! lol
Posted by scfraser1 on :
how is the L2 looking now??
Posted by Stockman13 on :
cmon lets run
Posted by kdb83182 on :
What happened to this thing, it was trading in big dollars like 6 months ago now its trading at .025? Anyone have any idea?
Posted by RsHnWaTCh on :
Reverse Split...
Posted by kdb83182 on :
I can't believe that killed a 10$ stock down to these levels, there had to be something else..
Posted by sidestyle on :
this was given a price target of .24 on may 3 after their last aquisition...the latest pr seems to imply that some shady dealings stopped it from running their, and it seems to imply also that those obstacles are out of the way...imo
Posted by sidestyle on :
it just started trading on may 1...
MGM Mineral Resources Begins Trading Its Shares on the OTC Pink Sheets Under the Symbol MGMX
TORONTO -- (MARKET WIRE) -- 05/01/06 -- Metro Gold Mines Mineral Resources Inc. (OTC: MGMX), a precious metal mining company focused on the development of producing properties internationally, announces that it has begun to trade its shares on the OTC Pink Sheets under the symbol of MGMX.
"We are happy to finally be trading and we feel that our exposure as a public company will only grow among investors as we begin to outline our business plan and growth strategy. There are several rich properties that MGM is interested in and I believe that in the current market climate our shareholders will be quite satisfied and maybe even a little surprised by our growth." (Ken Lamb, President)
As President of the company, Mr. Ken Lamb, possesses a strong sales and marketing background, along with extensive and diverse entrepreneurial / leadership abilities have allowed him to excel in various successful marketing, consulting and fundraising corporations. Aside from being President and Manager of several innovative companies, Mr. Lamb has served as a Professor of Academics for over twenty years and has been an instrumental key for implementing various breakthrough concepts and administrative ideas for MGM Mineral Resources. With excellent prospects all over the world, Mr. Lamb, along with Metro Gold Mines Mineral Resources are moving forward to be one of the major precious metal producers in the world. The Company's current focus will be on acquiring and developing producing precious metal properties located in South America. It is MGM's goal to be a world-class mining company with efficiency in all areas, not only profits, but of the employees' well-being, social aid, and environmental management. The company's long-term goal is to expand and consolidate with the acquisition of other rich mines. This coupled with management's contacts and reputation in the region will allow it to assemble a world-class property portfolio years ahead of what could be accomplished and gained by outsiders.
"Our board and our company has developed a good reputation and prestige in South America and we wish to leverage on this goodwill and hopefully turn it into acquisitions that may turn out to be quite lucrative." (Jairo Giraldo, Chairman and C.E.O.) As C.E.O., Mr. Giraldo's background is in Mining Engineering, having graduated from the National University of Colombia (Universidad Nacional) as well as certified in Mining Management with the American Management Asociation (A.M.A.). He worked for over ten years with the Ministry of Mines and Energy of Colombia, registering more than forty years of experience within the mining industry overall. Mr. Giraldo has served as a renowned professor throughout Colombian institutions, including SENA. Although his experience is quite diverse, he is a specialist with emeralds, gold, silver and platinum mines. He has been a special advisor for the Colombian government and helped establish the mining regulations that exist today within the country.
The Company is currently in the later stages of negotiations with several gold and silver mines and will announce these acquisitions once they have been fully completed, as well as obtaining all necessary mining and land rights.
About MGM Mineral Resources
Metro Gold Mines Mineral Resources S.A. is an independent precious metal mining company engaged in the acquisition and development of an impressive portfolio of exploration and production properties internationally. The Company's staff consists of economists, senior geologists, mining engineers, and experts in environmental management, all of them with extensive experience resulting in the best knowledge to explore and develop the interests of the company. MGM's initial focus will be on the exploration and procurement of gold and silver in the richest and most traditional Colombian "gold zone." This region is comprised of the nearby municipalities of El Bagre, Zaragoza, Segovia and Remedios. The mining in this region, which is located approximately 200 kilometers from the large city of Medellín, is rich in gold and history. The emphasis in the recovery of gold dates back to the pre-Columbus period and was described by the Spanish settlers as one of the richest lands that had been discovered in the world. Colombia is seen today as one of the countries in the region with excellent potential given the sustained growth of its economy throughout the past five decades. The growth rate and most macroeconomic variables have been recording a favorable behavior, thus promoting an excellent investment climate. The current macroeconomic stability is to a great extent due to the growing confidence of the private sector in the work carried out by the Government to improve the security conditions throughout the national territory. The impact of these efforts has been a higher economic growth rate. FORWARD-LOOKING STATEMENTS: This release contains forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995 and involve risks and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product development and acceptance, manufacturing, competition, regulatory and/or other factors, which are outside the control of the Company. Contact: Mr. Kenneth Lamb President 905-704-8026
Posted by sidestyle on :
investor relations has said recently said it has no plans to add or subtract shares...
Posted by superman87 on :
bought this morning at .015. What kind of potential does this stock have? It looks amazingly profitable for a penny.
Posted by ohio_trader on :
up 53% for the day, will gap on Monday
GLTA
Have A Great Weekend !!!
Posted by scfraser1 on :
Between this and XKEM I'm going to enjoy my weekend!!
Posted by sidestyle on :
superman: i think in the .05-6 range for the upcoming aquisition pr and sky's the limit for the pr containing geo data...
Posted by ohio_trader on :
still way oversold and way undervalued
this is one of the best pennie plays this month
could see .25+ with PR detailing assets, growth, and future expectations
although >>.05+ this week is very possible without a PR
hold onto this gem for the ride and stock-up on more if you can....when the daily rsi goes over 50 (currently only 30.88) watchout.....it will soar!!!!!!
****do your homework*****
Ohio_Trader
Posted by my_2_cents on :
Ohio-trader, I took a good look at this one and it looks great. I tried to be too cute and put in a bid on Friday (I can not daytrade as I have a regular job that starts at the opening bell and they are real strict about people looking at stocks) for .0145 because I saw two EOD trades for Thursday that closed after the bell at under .045 and I thought that there might be some momentum there. To say the least by being too cute there I lost out on a great opportunity there. I won't make the same mistake on Monday. What do you think for Monday - a gap?
I think you are on to a real winner here.
Posted by ohio_trader on :
quote:Originally posted by my_2_cents: Ohio-trader, I took a good look at this one and it looks great. I tried to be too cute and put in a bid on Friday (I can not daytrade as I have a regular job that starts at the opening bell and they are real strict about people looking at stocks) for .0145 because I saw two EOD trades for Thursday that closed after the bell at under .045 and I thought that there might be some momentum there. To say the least by being too cute there I lost out on a great opportunity there. I won't make the same mistake on Monday. What do you think for Monday - a gap?
I think you are on to a real winner here.
---------------------------------------------
yes ...with all of the buying pressure yesterday and most of the sellers now out of the way its should gap up around .026-.028 to start the week and go up from there, may have a few dips along the way but should continue to rise all week
a PR could send it off above .10 .....but.05+ by weeks end likely
GLTA
remember they are a penny stock that is profitable NOW ! and they are GOLD !!!!!
a very good combination IMO
Posted by ohio_trader on :
i know i tried to buy at .015 on friday( nope), moved it .0155(nope), .01575 (nope)lol, they finally gave in at .016(i got my order filled) and it never looked back..
Posted by my_2_cents on :
I got $1000 to play with, I am thinking of taking a gamble and try to go in at .025, what do you think, too risky?
Posted by ark on :
quote:Originally posted by my_2_cents: I got $1000 to play with, I am thinking of taking a gamble and try to go in at .025, what do you think, too risky?
--------------------------------------------
i've bought at .045, .037, .027. .02. and 016
IMO
this will be over .05 very soon
but everything comes with a risk(especiallly these dang penny plays.....i think the risk reward factor is lower than most penny plays right now
the risks at .025 is low, but the rewards potential is VERY HIGH
your call...i'm in , and will look to buy more
good luck on your decision
Posted by my_2_cents on :
Thanks Ohio - I like your posts and insights. I was thinking of pulling out of RSHN and putting it into XKEM, but maybe I'll let it ride another week and get the money for XKEM by pulling out of something else. I got a couple of dogs on the leash.
Posted by Jlizard on :
Ark, thats an old article, its been discussed on every board a few times. It originally turned me off to mgmx but looking closer at the co. I was going to buy some at .015 fri but it got away from me. I bought pbls instead.
Posted by Johnwayne on :
My two cents- your account totals $1000? If so this is too risky to go all in.
I assume you have $1000 to spare. This is risky because Shakerzzz is in it. However, Chartinator, the best innerday chart reader on this earth, says it could go to.13. Tough call maybe drop a small load in here and be light on your feet.
Posted by sidestyle on :
weak hand beware...gonna fly first thing monday
Posted by PEP on :
Hey Pilgrim, who is Chartinator and where can I look at his "charts"?
Posted by my_2_cents on :
Hey Duke, thanks for weighin' in on this. The $1000 is how much I have that is currently free to work with. I borrowed against my 401k to get some money to learn how to invest on my own. I've got a lot of changes coming up in my life and I would really like to be freed up to become a day trader. Like I said, I have a couple of dogs on the leash that I got into before I had a better idea of what to look for. I will be doing some restructuring of my portfolio come Monday. I am learning a lot from the people here and I hope that I can achieve my goal in the near future.
Right now I am looking at:
MGMX XKEM EQBM FSMH JMCP BZTG
Posted by same on :
Here is some DD MGMX
Way undervalued
Read the Financial Statement just released May 2006
Insiders own 49% of the stock and MGMX has positve earnings. Now this is FACT.
For Chartinator go to IHUB search then type in Chartinator and than select members. I have followed him a few times and maybe he got lucky, but I don't think so. HE called every dip, every run up, down to the minute. Never seen anything like it. He would post "ok it's gonna pullback " and one minute later it would pullback . Amazing.
Posted by sidestyle on :
MGM Mineral Resources Signs Letter of Intent to Acquire the "Manantiales" Property in the Province of Antioquia, Colombia Market Wire (Fri, May 19) http://biz.yahoo.com/iw/060519/0130355.html
MGM Mineral Resources Appoints New Lead Senior Geologist to Direct Production of La Esperanza Gold Mine Market Wire (Thu, May 4) http://biz.yahoo.com/iw/060504/0126905.html
MGM Mineral Resources Completes Acquisition of La Esperanza Mine in Colombia's Highest Yielding Gold Zone Market Wire (Tue, May 2) http://biz.yahoo.com/iw/060502/0126162.html
MGM Mineral Resources Begins Trading Its Shares on the OTC Pink Sheets Under the Symbol MGMX Market Wire (Mon, May 1) http://biz.yahoo.com/iw/060501/0125856.html Posted by billjohnson on :
MGMX really going to take off how many PK's release financial statements.
Posted by billjohnson on :
MGGV and MGMX looking to fly tommorow!
I cannot wait for the open!
Mining plays going to set the market on fire!
Posted by vinnie1 on :
this is a pump and dump who is the shizz going to fall on.
Posted by billjohnson on :
prove this company is here to grow!
Posted by billjohnson on :
MGMX mines worth maybe 1/2 billion trading at a lowly 12 million market cap, MGMX got fire under it friday momo will carry to mondays open*!
Posted by ohio_trader on :
Good Morning All,
Starting to Gap upward......
Posted by ohio_trader on :
bid and asked both moved up 2 ticks already
Posted by stockinthemud on :
(PINKSHEETS: MGMX), a precious metal mining company engaged in the acquisition and development of production properties in South and Central America, announces that it has completed its acquisition of the Manantiales property.
This new property is at the end of Colombia's central Cordillera, just two kilometers from the other MGM property, La Esperanza. Just like La Esperanza, this future promising land is contained within a gold producing belt, which stretches for over 150 kilometers from Santa Isabel in the south through Remedios and Segovia to Zaragoza, and Caucasia in the north. The region remains and always has been a major contributor to the national production of gold and silver.
"This property is an excellent addition to MGMX and our geologists feel that the property will yield exceptional results," said Ken Lamb, President of MGM Mineral Resources. "As reported previously, this mine is smaller in both size and probable reserves than our La Esperanza project, but, all studies indicate that the gold is of higher grade. We will be releasing additional technical data to our shareholders once it all becomes available, and our geologists confirm the data."
The Manantiales property is directly adjacent to the municipality of Segovia which makes all inbound and outbound access to the mine's resources very accessible. The other MGM property, La Esperanza, is only two thousand meters away, with only one other property in between.
The veins in the area run from north to south, with a higher concentration (tenor) of gold on the Manantiales property. The thickness of the vein's vary from 0.07 meters to 0.30 meters in some sectors, reaching up to 0,80 meters in remaining sectors. The average tenor of the veins is 32.5 grams of Au per ton and 29.6 grams of Ag per ton.
Very initial testing shows gold reserves exceeding 250,000 tons on the property, along with the following ore minerals:
"Of interesting note to the shareholders, the one thing to keep in mind that this property was acquired through our C.E.O., Jairo Giraldo's family, which owned the land," says Ken Lamb. "In fact, all of the directors of Metro Gold Mines and their respective families collectively own the next five properties that the Company covets, which makes all negotiations easier. Nonetheless, documents need to be completed, filed, registered and arrangements are required that are palatable for both MGM and the respective director and their families."
MGM Mineral Resources urges its shareholders to visit their website. As such, everyone can see both of the current properties in their portfolio, La Esperanza and Manantiales, along with the mining permits for the lands.
About MGM Mineral Resources (PINKSHEETS: MGMX)
Metro Gold Mines Mineral Resources Inc. is a growing, expertly managed gold mining company focused on acquiring and producing an impressive portfolio of exploration and production properties in South and Central America. MGM Mineral Resources is working to establish itself as a world-class gold company, capitalizing on smart acquisitions, breakthrough technology, modernized operations, deep industry expertise and a strong gold market to cost-effectively produce high-quality gold. The company has identified a significant opportunity to exploit proven but under-developed mineral resources in Colombia. It has acquired La Esperanza Mine and Manantiales Mine in Colombia's highest yielding municipality and is in the later stages of negotiations with several high grade gold and silver properties. MGM Mineral Resources is initially targeting the richest gold zone in Colombia, where between 60 and 80 percent of the nation's gold is produced. For more information please visit www.mgmmining.com Posted by ohio_trader on :
and still moving....yeah baby, lets roll !!!!
Posted by same on :
going to open up 30%+............
Posted by yahosef_777 on :
MGM Mineral Resources Completes Manantiales Acquisition Gold Company Finalizes All Permits and Attains Rights to the Manantiales Property
TORONTO -- (MARKET WIRE) -- 06/05/06 -- Metro Gold Mines Mineral Resources Inc. (PINKSHEETS: MGMX), a precious metal mining company engaged in the acquisition and development of production properties in South and Central America, announces that it has completed its acquisition of the Manantiales property.
This new property is at the end of Colombia's central Cordillera, just two kilometers from the other MGM property, La Esperanza. Just like La Esperanza, this future promising land is contained within a gold producing belt, which stretches for over 150 kilometers from Santa Isabel in the south through Remedios and Segovia to Zaragoza, and Caucasia in the north. The region remains and always has been a major contributor to the national production of gold and silver.
"This property is an excellent addition to MGMX and our geologists feel that the property will yield exceptional results," said Ken Lamb, President of MGM Mineral Resources. "As reported previously, this mine is smaller in both size and probable reserves than our La Esperanza project, but, all studies indicate that the gold is of higher grade. We will be releasing additional technical data to our shareholders once it all becomes available, and our geologists confirm the data."
The Manantiales property is directly adjacent to the municipality of Segovia which makes all inbound and outbound access to the mine's resources very accessible. The other MGM property, La Esperanza, is only two thousand meters away, with only one other property in between.
The veins in the area run from north to south, with a higher concentration (tenor) of gold on the Manantiales property. The thickness of the vein's vary from 0.07 meters to 0.30 meters in some sectors, reaching up to 0,80 meters in remaining sectors. The average tenor of the veins is 32.5 grams of Au per ton and 29.6 grams of Ag per ton.
Very initial testing shows gold reserves exceeding 250,000 tons on the property, along with the following ore minerals:
"Of interesting note to the shareholders, the one thing to keep in mind that this property was acquired through our C.E.O., Jairo Giraldo's family, which owned the land," says Ken Lamb. "In fact, all of the directors of Metro Gold Mines and their respective families collectively own the next five properties that the Company covets, which makes all negotiations easier. Nonetheless, documents need to be completed, filed, registered and arrangements are required that are palatable for both MGM and the respective director and their families."
MGM Mineral Resources urges its shareholders to visit their website. As such, everyone can see both of the current properties in their portfolio, La Esperanza and Manantiales, along with the mining permits for the lands.
About MGM Mineral Resources (PINKSHEETS: MGMX)
Metro Gold Mines Mineral Resources Inc. is a growing, expertly managed gold mining company focused on acquiring and producing an impressive portfolio of exploration and production properties in South and Central America. MGM Mineral Resources is working to establish itself as a world-class gold company, capitalizing on smart acquisitions, breakthrough technology, modernized operations, deep industry expertise and a strong gold market to cost-effectively produce high-quality gold. The company has identified a significant opportunity to exploit proven but under-developed mineral resources in Colombia. It has acquired La Esperanza Mine and Manantiales Mine in Colombia's highest yielding municipality and is in the later stages of negotiations with several high grade gold and silver properties. MGM Mineral Resources is initially targeting the richest gold zone in Colombia, where between 60 and 80 percent of the nation's gold is produced. For more information please visit http://www.mgmmining.com
Forward-Looking Statements
Statements contained in this news release, which are not historical facts, are forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995 that involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things: volatility and sensitivity to market prices for gold; replacement of reserves; procurement of required capital equipment and operating parts and supplies; equipment failure; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; imprecision in reserve estimates; success of future exploration and development initiatives; competition; operating performance of the facilities; environmental and safety risks including increased regulatory burdens; seismic activity, weather and other natural phenomena; failure to obtain necessary permits and approvals from government authorities; changes in government regulations and policies including tax and trade laws and policies; ability to maintain and further improve positive labor relations; and other development and operating risks. Although MGM Mineral Resources believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this report. The company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Contact: Mr. Kenneth Lamb President 416-214-7847
Posted by sidestyle on :
mirror trades going through...mm manipulation...hold on until at least .05
Posted by hawkdriver on :
biting on .027 again
Posted by billjohnson on :
Great news, huge, new acquistion on top of the 1/2 billion dollar mine
This is great!
Posted by BENJAMINS on :
Chart looks really good on this baby, It is way undersold,.....We will see a run very soon when MM's are done accumulating shares.
Posted by hawkdriver on :
gains are looking good, nothing too crazy.
Posted by BENJAMINS on :
does anyone know why this thing is moving? The chart looks great, and the news is supposed to move this thing? Could this be the MM's manipulation?
Posted by sidestyle on :
flippers and mm's...the volume keeps coming in...this will have it's fun, just be patient
Posted by BENJAMINS on :
with the volume, one will expect this thing to run and Flyy....not to mention a good PR that came in today......I hope these MM's meet their fate, these greedy ass fools
Posted by hawkdriver on :
Don't sweat it Ben, a new base is being set today, and there should be alot more news coming out this month. I don't know if this is market makers or not, but .024-.026 is seeing alot of support. If it is market makers, once they have their fill this will go.
Posted by kdb83182 on :
Holding up ok if what someone said was true (thats this was a P&D). I heard that on a few boards but it hasn't been crushed yet, maybe it still has a little climb in it?
Posted by hawkdriver on :
i was wrong, i'm gettin killed here
Posted by ohio_trader on :
hopefully wil go back up tmrw.....
bad day for the market overall...time to regroup
Posted by JohnDoe on :
With the news out today was hoping it'll run got in at .024 but EOD it went down the MM is playing around with us hope it'll run back up tomorrow if it go down more i'll buy more:)
Posted by hawkdriver on :
everything I look at indicates the price should go up. this looks like the most undervalued stock out there right now. i can't figure out what happened yesteraday. it would be nice for the company to issue some info on themselves, like numbers, employees, and start getting quoted on the pinks. to me the lack of transparency is the single biggest risk. but I still feel a producing gold company is far better than the typical (we have property but no production) pink sheet gold mines
Posted by ohio_trader on :
going to bounce again...good buying pressure at .015...
Posted by ohio_trader on :
alot of green coming back , should go back up this afternoon
Posted by ohio_trader on :
who is selling at .015?
Posted by Time2drum on :
Don't know, but THANKS! I'm in again. Posted by cgreen4320 on :
Is MGMX for real, is it a going organization. Do we have any proof. Does any one live near by who has made the visit. For an opportunity this great we should have the facts,DD.
Posted by ohio_trader on :
moving up finally..keep going !!!
Posted by cgreen4320 on :
It is, and it still has big volume, does this mean that the big turn is not hear yet. Was looking for volume to dry up, and more sideways trading.
Posted by cgreen4320 on :
There is a real trend in place now, moving good
Posted by cgreen4320 on :
chart pattern sure looks good at the close. Looks like the start of a trend, but the question, is this company for real. Is it a scam, or shell company? Anybody know for real,or are we just traders here, and no real speculators.Jesse said it is the big moves that makes the big money,a successful market operation, and this sector is ripe. I need the right stock.
Posted by hawkdriver on :
cgreen this company looks for real. I sent a nasty email their way last week, and just got the reply. I'll post it. This is an extremely small gold company, so it only has two choices grow or die. To me it looks like it could really go over the summer, but I've been wrong before. They are profitable, but not by much, and if they grow like they need to, they probably won't be profitable next year. Here is the reply they sent me, nothing special.
We thank you very much for your email and concerns.
Our company will be releasing all geological data regarding La Esperanza and Manantiales very shortly. We have our Geological Team currently working on all the data. Our company doesn't want to release any further information until all the vital components have been confirmed. Our shareholders will be receiving information in the near future.
We also request that our shareholders please believe our company when we specify that MGMX is very well aware of the impact and importance of being quoted on Pink Sheets. It is currently the sole reason that our stock is not pushing forward and our team is in daily contact with Pink Sheets in attempts to finalize and rectify this situation.
As you are aware, MGMX was the victim of spamming which led to Pink Sheets requesting a massive amount of information. This has not been completely negative since this has allowed us to be more transparent than many other companies that are quoted on Pink Sheets, including an updated 15C211 form with company financials to March 31, 2006.
We understand that our shareholder base has been subjected to various unwanted situations and appreciate the support. Our company will be quoting on Pink Sheets very shortly, where the public at large will regain confidence in our stock and allow it to reach new heights.
Again, we thank you for your questions and concerns.
Management
Posted by ohio_trader on :
L2's Soon ! ! !
this will help...and when the geo report hits in the next week or so...this will run back up past .05+
Posted by ohio_trader on :
quote:Originally posted by hawkdriver: cgreen this company looks for real. I sent a nasty email their way last week, and just got the reply. I'll post it. This is an extremely small gold company, so it only has two choices grow or die. To me it looks like it could really go over the summer, but I've been wrong before. They are profitable, but not by much, and if they grow like they need to, they probably won't be profitable next year. Here is the reply they sent me, nothing special.
We thank you very much for your email and concerns.
Our company will be releasing all geological data regarding La Esperanza and Manantiales very shortly. We have our Geological Team currently working on all the data. Our company doesn't want to release any further information until all the vital components have been confirmed. Our shareholders will be receiving information in the near future.
We also request that our shareholders please believe our company when we specify that MGMX is very well aware of the impact and importance of being quoted on Pink Sheets. It is currently the sole reason that our stock is not pushing forward and our team is in daily contact with Pink Sheets in attempts to finalize and rectify this situation.
As you are aware, MGMX was the victim of spamming which led to Pink Sheets requesting a massive amount of information. This has not been completely negative since this has allowed us to be more transparent than many other companies that are quoted on Pink Sheets, including an updated 15C211 form with company financials to March 31, 2006.
We understand that our shareholder base has been subjected to various unwanted situations and appreciate the support. Our company will be quoting on Pink Sheets very shortly, where the public at large will regain confidence in our stock and allow it to reach new heights.
Again, we thank you for your questions and concerns.
Management
Posted by Time2drum on :
Hmm, not sure what to make of this. Been studying the chart for several weeks. The RSI continues to drop, currently at 30.18, while MACD continues to improve everyday. Keeps getting tighter and tighter, yet price is dropping. Getting close to bouncing IMHO. That Geo Report should launch us. Bought more today at .0141 Posted by PEP on :
MGM Mineral Resources Announces Corporate Update Jairo Giraldo, C.E.O., Provides Progress Report for Company Shareholders Jun 20, 2006 3:46:00 PM TORONTO -- (MARKET WIRE) -- 06/20/06 -- Metro Gold Mines Mineral Resources Inc. (PINKSHEETS: MGMX), a precious metal mining company engaged in the acquisition and development of production properties in South and Central America, announces a corporate and progress report.
MGM Mineral Resources was recently featured in one of Colombia's largest and most respected daily newspapers, indicating much of what is known throughout the North American markets, but, confirming the fact that MGM is becoming a national entity for gold production and extraction.
"We are fresh on the heels of the Company's new acquisition, Manantiales," said Jairo Giraldo, C.E.O. of MGM Mineral Resources. "We feel it's appropriate to provide our shareholders with an update concerning recent developments."
The Company is proud to announce information regarding explosives and materials for mining use. The local Military Authority in Segovia is who controls and authorizes the purchase of explosives for the region. Last week, Mr. Giraldo signed a contract with the Military Authority in which he obtained the rights to explosives, materials and all other necessary substances for both Manantiales and La Esperanza.
Normally this process can take any where from six months to several years before obtaining such rights. MGM Mineral Resources has the leisure of a well renowned Geologist and C.E.O. at the helm of the Company. This will assist the Company greatly in future mining rights, materials, and acquisitions.
MGM Mineral Resources has commenced construction for a road of 400 meters, which runs from the neighboring mine, Providencia, through to La Esperanza. This will facilitate all inbound and outbound movement to La Esperanza from the local municipalities.
The Manantiales property included several smaller pieces of land, including an area of 15,000 square feet that will be used as a storage facility. This building will house compressors, welding units, and all other relevant mining equipment, along with a bathroom facility and a small office.
"A guest house was also included in the acquisition of the Manantiales property, which is located on the outskirts of Segovia," said Jairo Giraldo. "The Company will utilize the guest house as accommodation for any visiting member of company, including the Board of Directors and their families."
Since the urban center of Segovia is close to the mines, it will not be necessary to incur the additional expense of building a housing center for the miners and other laborers.
Lastly, Director Gilberto Zapata has commenced a census throughout the local communities, including the closest township to La Esperanza, Marmajon. This will be used to confirm the populations, ages, and employment needs of the surrounding communities. Metro Gold Mines looks forward to providing additional employment throughout the communities as the company continues to expand.
"Our President, Mr. Ken Lamb, has been actively involved in the Pink Sheets quotation situation," commented Jairo Giraldo. "We are aware that this quotation service is of importance and Mr. Lamb is working hand-in-hand with our Company's legal team to finalize this issue once and for all."
The Company's quotation system has been shut down temporarily on Pink Sheets based on an issue of spamming and illegal advertising which was conducted by unknown individuals within the first several days of trading. This has caused a detrimental effect on the Company's stock price, but, not on all current objectives and goals, as is obvious throughout this Press Release.
The Company's legal counsel is to provide an Opinion Letter to Pink Sheets confirming that all has been completed and that MGM Mineral Resources has supplied Pink Sheets with any and all pertinent information in relation to it's non-involvement in the spamming issues, and making all their financial and company information readily and publicly available.
"Unfortunately, our Chief Legal Counsel, is in his final stages of recovery from a serious medical operation," said Jairo Giraldo. "This has delayed the finalization of this document, but, we have been assured that it should be submitted to us by end of this week and then the rest will be in the hands of Pink Sheets."
Mr. Jairo Giraldo concludes his Progress Report, "Please keep in mind that this is only the beginning. We are very happy with the trust that our shareholders have placed in our Company. As such, we will continue with our forward progress and provide our shareholders with strong results."
About MGM Mineral Resources (PINKSHEETS: MGMX)
Metro Gold Mines Mineral Resources Inc. is a growing, expertly managed gold mining company focused on acquiring and producing an impressive portfolio of exploration and production properties in South and Central America. MGM Mineral Resources is working to establish itself as a world-class gold company, capitalizing on smart acquisitions, breakthrough technology, modernized operations, deep industry expertise and a strong gold market to cost-effectively produce high quality gold. The company has identified a significant opportunity to exploit proven but under-developed mineral resources in Colombia. It has acquired La Esperanza Mine and Manantiales Mine in Colombia's highest yielding municipality and is in the later stages of negotiations with several high grade gold and silver properties. MGM Mineral Resources is initially targeting the richest gold zone in Colombia, where between 60 and 80 percent of the nation's gold is produced. For more information please visit www.mgmmining.com
Forward-Looking Statements
Statements contained in this news release, which are not historical facts, are forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995 that involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things: volatility and sensitivity to market prices for gold; replacement of reserves; procurement of required capital equipment and operating parts and supplies; equipment failure; unexpected geological or hydrological conditions; political risks arising from operating in certain developing countries; imprecision in reserve estimates; success of future exploration and development initiatives; competition; operating performance of the facilities; environmental and safety risks including increased regulatory burdens; seismic activity, weather and other natural phenomena; failure to obtain necessary permits and approvals from government authorities; changes in government regulations and policies including tax and trade laws and policies; ability to maintain and further improve positive labor relations; and other development and operating risks. Although MGM Mineral Resources believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this report. The company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Contact: Mr. Kenneth Lamb President 416-214-7847
Posted by ohio_trader on :
should see a big bounce after this PR...if not I will buy more !!!!
soon this will be back over .05 very soon......
Posted by Time2drum on :
GOLD !!! Posted by Miss mu on :
Like I said sub-penny on it's way. Maybe someone should up my rating because I've been right everytime I post on a stock
Posted by Time2drum on :
Unlike most pinkie's, MGMX has been VERY proactive in keeping it's investors informed about EVERYTHING within the company, including goals, direction, acquisitions, staff, timeframes. They are actively working to resolve the Pink Sheets issue as well. The key words here are ACTIVE and INFORMED, not lame, like most pinkies.
Another key point here is they are obviously WELL CONNECTED politically and are moving forward at a rate that most mining companies can only dream about. The best part, GOLD and lots of it! Posted by Time2drum on :
Okay folks, I'm at a loss here and need some input. I've been following the chart on this for weeks and EVERYDAY the RSI keeps dropping. At 29.66, this is in the toilet. Meanwhile the MCAD keeps improving EVERYDAY. EVERYTHING is screaming PPS spike here. So WTF is up with the price? Okay, now I feel a little better. Posted by sidestyle on :
hold on time2drum...the info in the pr this week was just what we wanted to hear. they are moving quickly and deliberately to get operations going at full speed. if the rumors of 250000 tons of gold in la esperanza are correct along with the other ore types....blue skys ahead!
Posted by KublaKhan on :
Internal Geologic Report Confirms MGM Mineral Resources' La Esperanza Mine Contains More Than 800,000 Ounces of Gold Monday June 26, 9:15 am ET
TORONTO--(MARKET WIRE)--Jun 26, 2006 -- Metro Gold Mines Mineral Resources Inc. (Other OTC:MGMX.PK - News), a growing gold mining company engaged in the acquisition and development of production properties in South and Central America, announced that an internal geological study of its newly acquired La Esperanza mine has been completed.
The report confirms that La Esperanza contains measured resources of 800,000 ounces of gold thus far, with an estimated million or more ounces of indicated resources. The study included various surveys (magnetometer and electromagnetic), as well as mapping, and analyzing samples (crushing, milling, sifting, sampling for chemical and mineralogical analysis, Gravimetric separation in Wilfley table, hydro-cyclone and K Nelson, as well as cyaniding). All was performed with the objective of determining the tenors, thickness and continuity of the auro-argentiferous manifestations.
According to the geologic study the mine holds:
Measured Resources in La Esperanza Mine
823,000 ounces of gold-silver bearing material.
At current gold prices of $550 per ounce, these measured resources have a value of over $450 million USD.
Indicated Resources in La Esperanza Mine
1,220,000 ounces of gold-silver bearing material, consisting of 850,000 ounces located in an interior block, plus another adjacent block of 370,000 ounces located several hundred meters to the east.
At current gold prices of $550/ounce, these indicated resources have a value of $650 million USD.
"La Esperanza is proving that it has the potential to become a world-class mine," said Ken Lamb, President of MGM Mineral Resources. "To put its resources into perspective, even if the price of gold were to plummet to $250 per ounce, this mine would still have precious metals in the ground worth more than half a billion U.S. dollars."
La Esperanza is located in the town of Segovia, which produces more gold than any other municipality in Colombia. As per the recent findings, the style of gold mineralization throughout the region is generally meso-thermal, characterized by high grade, quartz dominant poly event vein systems hosted within first, second and third order joint sets associated with major structural breaks. Taking into account all the information, it was decided to enable the easiest access tunnels in order to further the gathering of samples as well as to determine the continuity of the deposit, thickness and tenors. The network of veins through La Esperanza mine have an average range of thickness from one foot to three feet in some areas and three to six feet in other areas.
"This mine has been operating for a dozen years on a rudimentary basis. We fully expect that once full production is reached La Esperanza has the ability to produce, consistently, for over 50 years," commented Jairo Giraldo, CEO for MGM Mineral Resources.
Posted by Jason0352 on :
****ing huge news!!!!!!!
Posted by ohio_trader on :
way undervalued !!!!!!
this is a .10+ stock and more
Posted by KublaKhan on :
Serious upside potential:
Posted by mdofmny on :
this one is ready for a nice bounce. need to break .015!
Posted by Miss mu on :
This stock is dead!!! If it move...after the summer.
Posted by ohio_trader on :
quote:Originally posted by Miss mu: This stock is dead!!! If it move...after the summer.
-----------------------------
blah, blah, blah.....keep talking to yourself, cause NO ONE else is listening to your foolishness!!!!!
Posted by ohio_trader on :
quote:Originally posted by Miss mu: This stock is dead!!! If it move...after the summer.
-----------------------------
blah, blah, blah.....keep talking to yourself, cause NO ONE else is listening to your foolishness!!!!!
Posted by KublaKhan on :
WTF?
Big news + big volume = close in red?
Does not compute!
Is the company diluting shares or is there a major shorting effort going on
quote: Mr. Jairo Giraldo concludes his Progress Report, "Please keep in mind that this is only the beginning. We are very happy with the trust that our shareholders have placed in our Company. As such, we will continue with our forward progress and provide our shareholders with strong results."
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