2004-05-12 09:00:16
Madison Enterprises Corp.: Preliminary Geophysical Results from Mt. Kare
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Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--MDSEF MNP.CX-- Further to its news release of April 13, 2004, Madison Enterprises Corp. (OTCBB:MDSEF) (TSX VENTURE:MNP) is pleased to report that it has completed approximately half of its current program of 30 line-kilometres of induced polarization ("IP") and magnetics geophysical surveying at its the Mt. Kare Property in Papua New Guinea. The survey has thus far successfully identified numerous IP anomalies at both the northeastern extensions of the Western Roscoelite and Black Zones and within the Pinuni Creek Valley. Madison's ongoing prospecting, pitting and trenching program in areas of geologic interest is continuing. Madison expects to begin its diamond drilling program at Mt. Kare in the third week of May, immediately after the completion of the IP geophysical survey. The objective of the upcoming phase of drilling is to expand the existing mineral resources at Mt. Kare, currently estimated by the independent engineering firm of Watts Griffis & McOuat to be indicated mineral resources of 14.68 million tonnes grading 2.36 g/t gold and 33.7 g/t silver and inferred mineral resources of 10.85 million tonnes grading 1.98 g/t gold and 22.7 g/t silver (using a 1.0 g/t gold equivalent cut-off and with the cutting of high grade gold assays to 30 g/t) representing approximately 1.8 million ounces of gold and 23.8 million ounces of silver. For the methodology used in the resource calculation, please refer to Madison's March 19, 2004 news release that is posted on Madison's web-site at www.madison-enterprises.com. To find out more about Madison Enterprises Corp. (TSX-V: MNP), visit our website at www.madison-enterprises.com. On behalf of the Board of Directors of MADISON ENTERPRISES CORP.
that's 805 million US$ in HEAVY METALS
profits calculated at 50US$/ounce on the glod alone is 90million US$
50$/ounce is a very conservative number.....
April 8, 2004
Trading Symbols: TSX Venture – MNP
OTC\BB-MDSEF
Web Site: www.madison-enterprises.com
NEWS RELEASE
Further to its news release of March 2, 2004, Madison Enterprises Corp. (“Madison”) reports that the terms of the brokered private placement announced on that date have been amended such that the placement will now be comprised of 13,000,000 units at a price of $0.30 per unit to generate gross proceeds of $3,900,000. Each unit will consist of one common share of Madison and one half warrant, every full warrant entitling the purchase of an additional common share of Madison at a price of $0.40 per share for two years. Canaccord Capital Corporation (“Canaccord”) has agreed to act as Madison’s agent in respect of this placement and will receive a commission of 7.5% of the gross proceeds, such fee to be payable half in cash and half in units at Canaccord’s election, a broker’s warrant entitling the purchase of up to 1,560,000 shares of Madison at a price of $0.40 per share for two years, an administration fee of $7,500 and a corporate finance fee of 200,000 shares.
On behalf of the Board of Directors of
MADISON ENTERPRISES CORP.
the financiers think pretty highly of this,
considering that this is trading at .17$ today
Inst. holdings 18 million sh
insider holding 3.7 million sh
that's 30% of the O/S
Glass- you in, you kicked but with ONEV I'll almost follow you anywhere.-LOL
[This message has been edited by glassman (edited May 17, 2004).]
They say .11 was the low but .15 looks like the actual low
So .17's a good price
73,000 right now....
Bid and Ask rising...
now lets see some volume!
quote:
Originally posted by keithsan:
just got home!!!!!!now lets see some volume!
it's not just here, guys, this is one of the slowest OVERALL market days this year.......
this company(MDSEF) is sitting on 1.8 million ounces of gold and 23 million ounces of silver.
using a conservative estimate, they should be able to take 100million US$ in profits off this. with 85+or- million shares out, that makes them worth over a dollar a share (right now)...
i am not predicting they will hit a dollar, but it is kinda funny......
Hopped on CYTP last 10 minutes, waiting for fill.
quote:
Originally posted by keithsan:
I get the feeling it will open up soon, sale just went through, theres a few trying with 2 mms on the bid. I'm assuming we'll see more volume in the last hour of the day than we have since lunch.
I was wrong, I hate that.
Super low volume everywhere today, huh Glass...
Keith, we won't hold it against ya...lol
I didn't really want to buy anything today anyways.... I need all my cash.
Hey, ya ever want to vacation up here in Canada, let me know....lol
Free healthcare....WOOOOHOOOOO Gimme another cheese burger....lol
quote:
Originally posted by keithsan:
Looks like a big buy just wnt through.
like i said, give it a little while, but don't wait too long, you don't find a lot of pennies that actually HAVE something this valuable ALREADY......
do your own DD.......
Peter Brown is the head of Canaccord and the most powerful man in Canadian junior stocks.
He is a multi millionaire and will be a mega millionaire when Canaccord goes public in a few months. He drives around Vancouver in a limo or a Rolls Royce.
Canaccord is Canada's largest independant brokerage house, Manulife owns 20%
Canaccord is known for it's entreprenurial brokers.
Canaccord has worked with BTP in the past.
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Aaron