GM Mineral Resources Completing Goals for Las Malvinas Mine and Negotiating Additional Property Thursday September 21, 9:45 am ET
TORONTO--(MARKET WIRE)--Sep 21, 2006 -- Metro Gold Mines Mineral Resources Inc. (Other OTC:MGMX.PK - News) is a growing gold mining company engaged in the acquisition and development of production properties in South and Central America.
As per previous Press Releases, Metro Gold Mines has recently completed negotiations with various additional mines and properties which continue expanding the Company's portfolio. The most recent negotiations were completed pertaining to Las Malvinas Mine, which is located just over a mile from the other known MGMX properties, such as La Esperanza.
The Company's geology and technical teams are still completing all the pertinent information in order to produce the results to the shareholders. They have been working diligently and are anxious to share all positive feedback as to the future potential of this mine. The Las Malvinas property is most definitely a producing mine, although currently not at any high production levels, but, the Company has already moved machinery and technical teams to the location as of last week. If all goes as anticipated, the mine can be fully expanded and operational within 45 to 60 days.
"While we are concentrating our production efforts on Las Malvinas property, since it will be bringing in revenue for our Company by end of year, we are also negotiating an additional producing property," said Jairo Giraldo. "The mine is called La Victoria and we will advise our shareholders when the negotiations are complete. As mentioned previously, we will continue concentrating our production efforts on Las Malvinas, while finalizing all exploration reports on our other properties and negotiating additional mines to join the MGM team."
The Company wanted to confirm that all the goals mentioned in the Press Release dated August 24, 2006 are being completed and fulfilled.
About MGM Mineral Resources (Other OTC:MGMX.PK - News)
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. MGM Mineral Resources was initially targeting the richest gold zone in Colombia, Segovia, but, is now extending to other areas throughout the country. 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:
Contact: Mr. Kenneth Lamb President 416-214-7847
--------------------------------------------
at the low now, should see a nice bounce in the next few days, great entry point
***do your homework***
Ohio_Trader
Posted by jos_tul on :
This is going to blow up soon...MM accumulating shares with shake for past few days...they are going to let this loose soon
Posted by BooDog on :
didn't someone try this before? do a search and you'll see. Maybe it will go this time. Set alert for .0009 unless they get a decent filing. It is at a good level for a bounce but it's all PRs. JMO, and in that search you'll see I picked up a bag. LOL.
Posted by BooDog on :
Don't you just love how some of these go down on good news? Almost enough to turn you into an Elmer Fudd.
Posted by JETPILOT on :
How low will it go? How low will it go?
Posted by JETPILOT on :
.0023 52 week low. Maybe it will go up from here.
Posted by ohio_trader on :
dilution is near its end....this baby is ready to pop, and when it goes we may see a 2-3X bagger in 1 day
i rode this down and sold all shares back in June at over .02(at a very big loss),have been watching ever since and think its about ready to GO back up hard...just got back in Thursday...this time will make $$$
this baby was diluted to the hiltin the last 4 months, alot of accumulation by mm's and others,may dip a hair more, may not, soon will GO strong though !!
IMO
***do your homework**
Ohio_Trader
Posted by ridi on :
News is good, but don't forget to look at technical indicators before you confirm a bullish trend.
Posted by ohio_trader on :
worth keeping an eye on...took a big hit yesterday and made a quick rebound today....if dilution is almost over this will turn back up quickly IMO
.....also sometimes charts and indicators mean a hill of beans with pennies as we all know, for good or bad
GLTA who dare to buy, this may be a fun ride back up real soon
Posted by BooDog on :
quote:Originally posted by ohio_trader: .....also sometimes charts and indicators mean a hill of beans with pennies as we all know, for good or bad
No doubt about that M8.
did make a nice recovery yest. Gap down better than a fat finger to try and spark some life. We'll see. already added more but thinking it may go lower yet. this hits even .01 I'll be a happy allstocker (even with all the extra pop ups here). And if this turns out to be legit on the way.... daum!
Posted by ohio_trader on :
looks like good support at bottom .002, Up from here and should be soon....
this is setting up to bounce over a penny soon IMO
almost didn't want to post this PR. lets see something like "machinery has been moved and people are finding the loot!" until then IMO this will be flapping in the wind.
Posted by JETPILOT on :
High volume up 36.36% today
Posted by tompom on :
i´m in at .0028
Posted by KublaKhan on :
How about this one?
quote:Local and National Dignitaries Attend Ribbon Cutting Ceremony Launching MGM Mineral Resources Latest Mine Into Full Operation Tuesday October 3, 11:40 am ET
TORONTO--(MARKET WIRE)--Oct 3, 2006 -- Metro Gold Mines Mineral Resources Inc. (Other OTC:MGMX.PK - News) is a growing gold mining company engaged in the acquisition and development of production properties in South and Central America.
"MGM Mineral Resources has been diligently involved with the newest acquisition of Las Malvinas Mine," said Jairo Giraldo, CEO of MGM Mineral Resources. "As such, we have designated our resources and technical teams to the site of Las Malvinas Mine. This has caused a lot of regional and national focus toward the mine and the Company's operations. We were able to recently launch Las Malvinas Mine officially, with local and national dignitaries present at our ribbon cutting ceremony."
The Company has already commenced all technical work on the mine and has entered the production stage. MGM Mineral Resources confirms all previous reports and goals that the Company is about to become a high gold yielding operation. The Company will be seeing revenues generated from this mine's production within 90 to 120 days.
"On behalf of MGM Mineral Resources, we would like to thank the Mayor, local army and government officials for helping us navigate through the bureaucratic process of this acquisition," said Ken Lamb, President of MGM Mineral Resources. "It is good to know that the local, provincial and national communities and government stand behind our efforts and support our corporate goals. The Company has been working hard in positioning themselves in becoming major players in the Colombian gold communities, and the addition of Las Malvinas Mine will bring us closer to realizing this goal."
almost didn't want to post this PR. lets see something like "machinery has been moved and people are finding the loot!" until then IMO this will be flapping in the wind.
LMAO "The Company has already commenced all technical work on the mine and has entered the production stage." were they reading this?
Posted by PEP on :
One of the share holders went down to Colombia to check out the company and posted pictures of the gold mines, the company office, and CEO. Message me if you want the link with the pictures.
Posted by PEP on :
Here is where the pictures are located.
Posted by tompom on :
this puppy is getting a lot of attention today i´m in at .0022
Posted by bmarley57801 on :
in *0022 as well.
Posted by tompom on :
.0024 almost gone this looks like a breakout!
Posted by tompom on :
dip
Posted by tompom on :
bid is building next leg up soon
Posted by tompom on :
big buys rolling in now
Posted by tompom on :
there she goes...
Posted by bmarley57801 on :
vol picking up
Posted by tompom on :
.0023 will be gone fast
Posted by bmarley57801 on :
must be news in the air??
Posted by tompom on :
that´s what i call lunch action! huge buys going through
Posted by tompom on :
this smells like news around the corner
Posted by tompom on :
.0025 almost gone
Posted by tompom on :
.0026 on the ask now
Posted by bmarley57801 on :
NICE- VERY NICE INDEED
Posted by tompom on :
this is going higher last run it topped out at .0032
Posted by bmarley57801 on :
----- .0032 is the 50MA ------
Posted by tompom on :
.0028 now
Posted by bmarley57801 on :
0029 x 003
3x4
Posted by tompom on :
took profit at .0029
Posted by Schwabie on :
GOOD CALL TOM.
Posted by bmarley57801 on :
testing the 003 again.... soon....
Posted by tompom on :
thx schwabie!
Posted by tompom on :
MGM Mineral Resources Announces Recent Corporate Activities Oct 25, 2006 2:00:00 PM
TORONTO -- (MARKET WIRE) -- 10/25/06 -- Metro Gold Mines Mineral Resources Inc. (PINKSHEETS: MGMX) is a growing gold mining company engaged in the acquisition and development of production properties in South and Central America.
Although it has been some time since a recent news release, MGM Mineral Resources has been maintaining all short term and long term goals. A report was drafted recently by company C.E.O. Mr. Jairo Giraldo regarding the recent progress, acquisitions, and ongoing work at the mines.
During the week of October 8, 2006, Mr. Giraldo met with Manager of Operations, Mr. Fabian Llanos and reviewed the various issues pertaining to the Company. These included production, exploration, and communications. They are very content that all these issues are being addressed.
PRODUCTION -- Las Malvinas is the Company's main focus and is in current production. This includes all lab work, processing and extraction stages. Tunnels are in place, they are clean and very accessible, as well as in the process of transporting updated equipment to the site for more advanced extraction.
DEVELOPMENT -- La Esperanza remains the Company's cornerstone and is currently in talks with external international geologists in order to ratify all findings and geological numbers. The Company wants to confirm their findings and move this project into the high production stages.
COMMUNICATIONS -- The Company wants to improve their communications with the shareholders and has been attaining this goal in several ways. They are currently training a bilingual receptionist to which all shareholder calls and emails will be directed. As such, shareholders will be able to get in touch with someone in the South American or North American areas.
"As many may be aware, we have opened our doors to various shareholders lately in order to confirm the veracity of our Company," said Jairo Giraldo, C.E.O. of MGM Mineral Resources. "We have met with some of our shareholders and have been keeping in touch to the best of our current abilities, as well as have allowed pictures to be taken, including out in Segovia, at the shareholders own risk. We did notice that our shareholders have been posting various pictures of our operations and although the pictures are not officially sanctioned pictures of MGM Mineral Resources, they do reflect our Company and can add to shareholder confidence once they see the reality of our projects."
The Company will release additional pictures shortly, including parts of the operation that were not explored by some shareholders.
"We are anxious to release any upcoming technical information pertaining to Las Malvinas," concludes Jairo Giraldo. "Production and shareholder confidence has been our main focus over the past month and we will continue to push towards a bright future."
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. MGM Mineral Resources was initially targeting the richest gold zone in Colombia, Segovia, but, is now extending to other areas throughout the country. 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
i told you guys i could smell it LOL
Posted by gfinney on :
So looks like the PR was nothing more than a little fluff.
Posted by PEP on :
Gold production numbers expected within 90 - 120 days.
Posted by PEP on :
![[Eek!]](eek.gif)