posted
Making a nice move, symbol change on friday (AAGM) is the old symbol MGMX is the new one. La Esperanza mine looks like it has some monster reserves, been moving up for the last few days MGMX could be positioning itself for a nice little run
Volume been skyrocketing and this stock is on the move, gold is huge right now and it seems like MGMX is taking advantage of some great reserves down in Columbia.
"La Esperanza Facts
Proven reserves: 1,080,000 tons of gold-silver bearing material (400,000 m3 x 2.7 ton/m3) with dimensions of 1,000 m in length and a width of 0.8 m and an average of 0.8037 troy ounces of gold and 0.9645 troy ounces of silver per ton.
Probable reserves: 1,620,000 tons of gold-silver bearing material
with 1,080,000 tons located in an inferior block with the same dimension of the last one, plus another adjacent block of 540,000 tons located in the east. The total amount of probable reserves of material is 1,620,000 tons, assuming the same average of 0.8037 troy ounces by ton of gold"
"AREA FACTS
Colombia has the largest coal reserves in Latin America, as well as containing substantial reserves of iron ore (producing 0.7 Mt in 2003 compared to 0.6 Mt in 2002), nickel, gold and copper.
Silver production rose 37% from 6.9 t in 2002 to 9.5 t in 2003. Estimated emerald production was 9.0 Mct in 2003 compared to 5.4 Mct in 2002.
Colombia has produced in excess of 125 million ounces of gold, making it South America’s largest recorded gold producer.
Volume been skyrocketing and this stock is on the move, gold is huge right now and it seems like MGMX is taking advantage of some great reserves down in Columbia.
Posts: 119 | Registered: Apr 2006
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MGM Mineral Resources Begins Trading Its Shares on the OTC Pink Sheets Under the Symbol MGMX Monday May 1, 9:31 am ET
TORONTO--(MARKET WIRE)--May 1, 2006 -- Metro Gold Mines Mineral Resources Inc. (Other OTC:MGMX.PK - News), a precious metal mining company focused on the development of producing properties internationally, announces that it has begun to trade its shares on the OTC Pink Sheets under the symbol of MGMX.
"We are happy to finally be trading and we feel that our exposure as a public company will only grow among investors as we begin to outline our business plan and growth strategy. There are several rich properties that MGM is interested in and I believe that in the current market climate our shareholders will be quite satisfied and maybe even a little surprised by our growth." (Ken Lamb, President)
As President of the company, Mr. Ken Lamb, possesses a strong sales and marketing background, along with extensive and diverse entrepreneurial / leadership abilities have allowed him to excel in various successful marketing, consulting and fundraising corporations. Aside from being President and Manager of several innovative companies, Mr. Lamb has served as a Professor of Academics for over twenty years and has been an instrumental key for implementing various breakthrough concepts and administrative ideas for MGM Mineral Resources. With excellent prospects all over the world, Mr. Lamb, along with Metro Gold Mines Mineral Resources are moving forward to be one of the major precious metal producers in the world.
The Company's current focus will be on acquiring and developing producing precious metal properties located in South America. It is MGM's goal to be a world-class mining company with efficiency in all areas, not only profits, but of the employees' well-being, social aid, and environmental management. The company's long-term goal is to expand and consolidate with the acquisition of other rich mines. This coupled with management's contacts and reputation in the region will allow it to assemble a world-class property portfolio years ahead of what could be accomplished and gained by outsiders.
"Our board and our company has developed a good reputation and prestige in South America and we wish to leverage on this goodwill and hopefully turn it into acquisitions that may turn out to be quite lucrative." (Jairo Giraldo, Chairman and C.E.O.)
As C.E.O., Mr. Giraldo's background is in Mining Engineering, having graduated from the National University of Colombia (Universidad Nacional) as well as certified in Mining Management with the American Management Asociation (A.M.A.). He worked for over ten years with the Ministry of Mines and Energy of Colombia, registering more than forty years of experience within the mining industry overall. Mr. Giraldo has served as a renowned professor throughout Colombian institutions, including SENA. Although his experience is quite diverse, he is a specialist with emeralds, gold, silver and platinum mines. He has been a special advisor for the Colombian government and helped establish the mining regulations that exist today within the country.
The Company is currently in the later stages of negotiations with several gold and silver mines and will announce these acquisitions once they have been fully completed, as well as obtaining all necessary mining and land rights.
About MGM Mineral Resources
Metro Gold Mines Mineral Resources S.A. is an independent precious metal mining company engaged in the acquisition and development of an impressive portfolio of exploration and production properties internationally. The Company's staff consists of economists, senior geologists, mining engineers, and experts in environmental management, all of them with extensive experience resulting in the best knowledge to explore and develop the interests of the company.
MGM's initial focus will be on the exploration and procurement of gold and silver in the richest and most traditional Colombian "gold zone." This region is comprised of the nearby municipalities of El Bagre, Zaragoza, Segovia and Remedios. The mining in this region, which is located approximately 200 kilometers from the large city of Medellín, is rich in gold and history. The emphasis in the recovery of gold dates back to the pre-Columbus period and was described by the Spanish settlers as one of the richest lands that had been discovered in the world.
Colombia is seen today as one of the countries in the region with excellent potential given the sustained growth of its economy throughout the past five decades. The growth rate and most macroeconomic variables have been recording a favorable behavior, thus promoting an excellent investment climate.
The current macroeconomic stability is to a great extent due to the growing confidence of the private sector in the work carried out by the Government to improve the security conditions throughout the national territory. The impact of these efforts has been a higher economic growth rate.
FORWARD-LOOKING STATEMENTS:
This release contains forward-looking statements within the meaning and pursuant to the Safe Harbor provisions of the Securities Litigation Reform Act of 1995 and involve risks and uncertainties that may individually or mutually impact the matters herein described, including but not limited to product development and acceptance, manufacturing, competition, regulatory and/or other factors, which are outside the control of the Company.
Contact: Contact: Mr. Kenneth Lamb President 905-704-8026
Posts: 664 | Registered: Jun 2005
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posted
Not sure if it will move it up but Gold is still on fire and when they come out with some real news not just an introduction this one could really fly, la esperanza is a monster of a mine!
Posts: 119 | Registered: Apr 2006
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posted
Flurry of trade as closing bell get closer, will she be able to run?
Lots of buying going on, some say brokers are having trouble because of symbole change, looks like when all that gets worked out some real buying will come in.
Posts: 119 | Registered: Apr 2006
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posted
MGM Mineral Resources Completes Acquisition of La Esperanza Mine in Colombia's Highest Yielding Gold Zone Gold Company to Modernize Operations and Maximize Production of Newly Acquired Mine Update: 4:05 PM ET May 2, 2006
TORONTO, May 02, 2006 (MARKET WIRE via COMTEX) -- Metro Gold Mines Mineral Resources Inc. (MGMX : mgm mineral resources inc com News , chart, profile, more Last: 0.07-0.03-34.00%
5:21pm 05/02/2006
Sponsored by: MGMX0.07, -0.03, -34.0%) , a growing gold mining company engaged in the acquisition and development of production properties in South and Central America, announced that it has completed the acquisition of La Esperanza gold mine. La Esperanza is located in Segovia, the richest, most gold-bearing municipality in Colombia. There are proven multi-million ounce deposits of rich gold under Colombian soil. Colombia is the highest-yielding nation in South America, having produced more than 125 million ounces of gold. But it is also the most under-explored and under-developed. With the notable exception of neighboring Frontino Gold Mines LTD -- which has produced over 5 million ounces of gold in the Segovia area -- the majority of local miners have not had the resources or technology to sustain maximum production. MGM Mineral Resources is working to modernize operations and maximize profitability of La Esperanza mine, which is located within the province of Antioquia where between 60 and 80 percent of the nation's gold is produced. Through partnerships with local and federal government authorities and the surrounding communities, the company is ramping up the mine to achieve full production capacity. MGM Mineral Resources believes it can significantly accelerate the extraction process, increase overall productivity and lower production costs. "MGM Mineral Resources has been working to acquire La Esperanza since its inception and it is extremely gratifying to see this exceptional property become part of our portfolio," said Ken Lamb, President of MGM Mineral Resources. "The Company is very excited about La Esperanza's prospects and would like to thank Mr. Jairo Giraldo, our CEO, for orchestrating this acquisition. Mr. Giraldo is a highly respected figure in the Colombian mining community with more than 40 years of proven experience in the industry. Due in large part to his hard work, close relationships with government and industry officials and excellent reputation we are able to embrace this opportunity." "We are working on releasing the results of our geology reports, which will outline just how extensive a project this mine will become," said Chairman and CEO Jairo Giraldo. "La Esperanza is located within our country's richest gold zone. We are highly pleased with what we have seen so far. We believe this acquisition has the potential to significantly improve our bottom line and increase shareholder value." About MGM Mineral Resources (MGMX : mgm mineral resources inc com News , chart, profile, more Last: 0.07-0.03-34.00%
5:21pm 05/02/2006
Delayed quote dataAdd to portfolio Analyst Create alertInsider Discuss Financials Sponsored by: MGMX0.07, -0.03, -34.0%) 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, leading edge 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 and is in the later stages of negotiations with several high grade gold and silver properties. MGM Mineral Resources is initially targeting the richest gold zone in Colombia, where between 60 and 80 percent of the nation's gold is produced.
Posts: 196 | From: usa | Registered: Feb 2006
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posted
nice pr after the bell, i believe mgmx hit bottomed out today, so tom morning will be a great time to get in for a quick run up to sell...
Posts: 664 | Registered: Jun 2005
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posted
agree. finished down, could gap up tomorrow with this news. I'm tied up in this great oil company about to release a PR , anybody want to loan me some money so I can play in the meantime?
Posts: 2741 | From: Seattle | Registered: Feb 2005
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posted
You are always on top of things huh great news for the company!
Showing some real promise the best thing about these Columbian mines is they are underdeveloped a company like MGMX can come in there and really start to get some value out of this Monster Gold mine!
Posts: 119 | Registered: Apr 2006
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posted
this is a definite gapper tommorrow morning however, my scottrade still hasn't changed the symbol name from AADN to MGMX so i can't sell
Posts: 664 | Registered: Jun 2005
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posted
Metro Gold Mines Mineral Resources Inc. (MGMX) may be a target of aggressive investors and day traders this morning! Yesterday the company, a growing gold mining company engaged in the acquisition and development of production properties in South and Central America, issued a press release announcing that it has completed the acquisition of La Esperanza gold mine; located in Segovia the richest, most gold-bearing municipality in Colombia.
The news may get the attention of investors! According to the press release, there are proven multi-million ounce deposits of rich gold under Colombian soil. Colombia is the highest-yielding nation in South America, having produced more than 125 million ounces of gold. But it is also the most under-explored and under-developed. With the notable exception of neighboring Frontino Gold Mines LTD-which has produced over 5 million ounces of gold in the Segovia area-the majority of local miners haven't had the resources or technology to sustain maximum production.
Continue to watch this company! "MGM Mineral Resources has been working to acquire La Esperanza since its inception and it is extremely gratifying to see this exceptional property become part of our portfolio," said Ken Lamb, President of MGM Mineral Resources. "The Company is very excited about La Esperanza's prospects and would like to thank Mr. Jairo Giraldo, our CEO, for orchestrating this acquisition. Mr. Giraldo is a highly respected figure in the Colombian mining community with more than 40 years of proven experience in the industry. Due in large part to his hard work, close relationships with government and industry officials and excellent reputation we are able to embrace this opportunity."
"We are working on releasing the results of our geology reports, which will outline just how extensive a project this mine will become," said Chairman and CEO Jairo Giraldo. "La Esperanza is located within our country's richest gold zone. We are highly pleased with what we have seen so far. We believe this acquisition has the potential to significantly improve our bottom line and increase shareholder value."
Investors should continue to monitor the progress of Metro Gold Mines Mineral Resources! MGM Mineral Resources is working to modernize operations and maximize profitability of La Esperanza mine, which is located within the province of Antioquia where between 60 and 80 percent of the nation's gold is produced. Through partnerships with local and federal government authorities and the surrounding communities, the company is ramping up the mine to achieve full production capacity. MGM Mineral Resources believes it can significantly accelerate the extraction process, increase overall productivity and lower production costs.
Posts: 196 | From: usa | Registered: Feb 2006
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posted
5/03/2006 9:15 am MGM Mineral Resources Acquires Exceptional Property in Colombia's High Yielding Gold Zone
Posts: 196 | From: usa | Registered: Feb 2006
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posted
wow this one is freaking flying great news yesterday and it seems this is all over the net huge gold mine, could really move if it breaks resistance at .12!
Posts: 119 | Registered: Apr 2006
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posted
MGMX THINGS are really heating up with this Gold move!
Volume really heating up stock pulled back a little, trading at 20 times average volume two hours into open, Gold is on fire right now, La Esperanza mines are supposed to be huge.
Posts: 119 | Registered: Apr 2006
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MGM Mineral Resources Appoints New Lead Senior Geologist to Direct Production of La Esperanza Gold Mine
TORONTO -- (MARKET WIRE) -- 05/04/06 -- Metro Gold Mines Mineral Resources Inc. (OTC: MGMX), a growing gold mining company engaged in the acquisition and development of production properties in South and Central America, announced the appointment of Mr. Alvaro Alzate Castaño as Lead Senior Geologist. Mr. Castaño is charged with driving production of MGM Mineral Resources' newly acquired La Esperanza mine located in Segovia, the richest, most gold-bearing municipality in Colombia, as well as assessing future acquisitions.
MGM Mineral Resources is led by a team of senior experts in geology, mining, environmental biology and business administration with proven industry expertise and an extensive network of contacts in Colombia. Not only are they experts in their fields, they also have proven experience working directly in the area.
"Mr. Castaño is a talented and respected lead geologist with highly specialized expertise developing gold properties in the area and we are extremely pleased that he has chosen to join our team," said Ken Lamb, President of MGM Mineral Resources. "Mr. Castaño's career includes twenty years of increasing responsibility with Frontino Gold Mines LTD, which has produced more than 5 million ounces of gold from two local mines -- El Silencio and Providencia. Providencia is directly adjacent to our La Esperanza property."
Mr. Castaño is leading the geology team of MGM Mineral Resources including managing the various stages of La Esperanza mine. Mr. Castaño is a graduate of the National University of Colombia with a major in Business Administration. He worked for world renowned Frontino Gold Mines for over 20 years. Mr. Castaño worked for civil engineering firms Pervel and Mingtec, where he managed a major tunnel system expansion. Throughout his extensive career, he has been involved in all aspects of mining projects including planning, surveying, topography, and construction. Most recently, with Frontino Gold Mines, he directed the majority of production, management and planning.
"We are working diligently with Mr. Castaño to finalize the Geologist Report detailing the prospects of our La Esperanza mine and expect to announce the results shortly," said Jairo Giraldo, Chairman and CEO. "We believe Mr. Castaño will play a vital role in both the successful production of our first mine and the rapid growth of our company."
MGM Mineral Resources is focused on acquiring and developing world-class gold properties in Colombia. Colombia is South America's largest recorded gold producer, yielding more than 125 million ounces. But it is also the most under-explored and under-developed. With a few notable exceptions, the majority of local miners have not had the resources or technology to achieve and sustain maximum production of the nation's rich reserves.
Posts: 56 | From: Canada | Registered: Nov 2005
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posted
AUSTIN, Texas, May 05, 2006 (BUSINESS WIRE) -- SmallCapVoice.com, Inc. today announced that a new audio interview is available at SmallCapVoice.com. The featured guest is Ken Lamb, President of Metro Gold Mines Mineral Resources Inc. (MGMX : mgm mineral resources inc com Last: 0.05+0.01+21.95%
3:59pm 05/05/2006
MGMX0.05, +0.01, +22.0%) . The interview includes Mr. Lamb's personal insight into the Company's growth to date and its recent news. The interview can be heard here at http://www.smallcapvoice.com/mgmx/mgmx-5-4-06.html. The company is ramping up operations in its newly acquired La Esperanza mine located in Segovia, the richest, most gold-bearing municipality in Colombia. MGM Mineral Resources is initially targeting Colombia's richest gold zone; where between 60 and 80 percent of the nation's gold is produced. For more information please visit www.mgmmineralresources.com.Posts: 196 | From: usa | Registered: Feb 2006
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posted
Should move pretty good with news coming on the geological report and acquisitions.
Posts: 9 | From: houston | Registered: May 2006
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, anybody want to loan me some money so I can play in the meantime?
![[Frown]](frown.gif)
so i can't sell
