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
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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$/ounce on the glod alone is 90million US$
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
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).]
posted
Glass, I look at year first then change to 3 month Year does look good. a couple on the bid now!
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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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.
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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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......
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.
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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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.....
Posts: 36378 | From: USA | Registered: Sep 2003
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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.......
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.
posted
Nice vol. today, seems to be picking up daily, I like ownin me some gold. Now thats some real "bling bling"
Posts: 9110 | From: boston, ma | Registered: Jan 2004
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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....
Posts: 36378 | From: USA | Registered: Sep 2003
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posted
i guess you can lead a horse to water .....LOL i'm willing o be a little patient here..... Posts: 36378 | From: USA | Registered: Sep 2003
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