posted
Yes, and it appears that Shakerzzz has kind of grown old on some of the IHubbers and isn't moving these stocks like he did a couple of weeks ago.
quote:Originally posted by Johnwayne: MD- I am in this at .015 small. You should know that Shakerzzz is playing this.
-------------------- I may be wrong, but I don't think so.... Posts: 837 | From: Madison, WI | Registered: Sep 2005
| IP: Logged |
posted
could pop soon. only up a little bit. has been as high as $50 this year. and they say there has been no play w/ amount of OS. at least thats what i take from it.
"TORONTO, Jun 26, 2006 (MARKET WIRE via COMTEX) -- 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, 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."
Posts: 4 | From: Miller Beach | Registered: Jun 2006
| IP: Logged |
posted
MGMX mine survey confirms GOLD! - 52 week range .01 - $50 great buy - great potential - gold going back up
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.
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
