posted
This news came out last week and nobody noticed it......
2004-05-12 09:00:16
Madison Enterprises Corp.: Preliminary Geophysical Results from Mt. Kare
***
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$/ounce on the glod alone is 90million US$
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
glassman
posted
84,442,583 shares outstanding according to SEC filing on March 8, 2004
Inst. holdings 18 million sh insider holding 3.7 million sh
that's 30% of the O/S
keithsan
posted
chart looks good! seems to have reversed course to an upward trend when the news came out.
Glass- you in, you kicked but with ONEV I'll almost follow you anywhere.-LOL
keithsan
posted
I'm in...
glassman
posted
The one year chart is the most interesting..... this one isn't ONEV, but i think the one year chart ALSO has some similarities to ONEV..... the float is so low this could be really interesting...
[This message has been edited by glassman (edited May 17, 2004).]
GREGDOGG
posted
Ya, I was just looking at that,
They say .11 was the low but .15 looks like the actual low
So .17's a good price
GREGDOGG
posted
Looks like all it needs is vloume
73,000 right now....
GREGDOGG
posted
Volume 83,900
Bid and Ask rising...
keithsan
posted
Glass, I look at year first then change to 3 month Year does look good. a couple on the bid now!
GREGDOGG
posted
Bid .17 Ask .20
keithsan
posted
just got home!!!!!!
now lets see some volume!
glassman
posted
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.......
GREGDOGG
posted
Still no fill at .18
HitMe101
posted
Trying for .17
keithsan
posted
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.
glassman
posted
this is one of those oddities that make me wonder about the OTC markets.... CMKX can sell billions of shares of stock on pipe(kimberlite) dreams. they have yet to show us one diamond... just because the price is so low...
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......
GREGDOGG
posted
Dang it..... NO FILL !!!!!!!!!!!! RRRRRRRRR
Hopped on CYTP last 10 minutes, waiting for fill.
glassman
posted
maybe you'll have to pay the ask........ i did..LOL
keithsan
posted
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.
GREGDOGG
posted
Ya, I guess... ya snooze ya lose...lol
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.
glassman
posted
it takes a little while for word to get out..... it's not like they spelled all of this out in a PR........ had to break out the cackalacker and do a good bit of reading to put it all together.....LOL give it a week or two.....
GREGDOGG
posted
Thanks for all your hard work Glass....
Hey, ya ever want to vacation up here in Canada, let me know....lol
Free healthcare....WOOOOHOOOOO Gimme another cheese burger....lol
keithsan
posted
Looks like a big buy just wnt through.
glassman
posted
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.......
GREGDOGG
posted
Hey guy's, I just finnished talking with NP, this is what he said about Canaccord,
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.
glassman
posted
follow the smart money........
keithsan
posted
Nice vol. today, seems to be picking up daily, I like ownin me some gold. Now thats some real "bling bling"
glassman
posted
more good volume....they REFUSE to fill ANY of my orders below the ask.....been trying daily since i saw it last week... i wonder who is getting filled below the ask.. cuz it ain't me....
glassman
posted
i guess you can lead a horse to water .....LOL i'm willing o be a little patient here.....
keithsan
posted
I'm still holding!
ACJ
posted
My patience wore thin. I got out on Friday. Bigger fish to catch! Good luck to ya'll.
posted