posted
Gold jumps above $700 Metal's huge recent gains driven by investors buying on geopolitical concerns. May 9, 2006: 12:42 PM EDT
NEW YORK (Reuters) - Gold futures jumped above $700 an ounce Tuesday, hitting a fresh 25-year high, fueled by relentless investor buying on geopolitical tensions and worries about inflation.
IP: Logged |
quote:Originally posted by Thorn: What makes you guys think this will move? It looks like a terrible chart to me (but I don't know a lot about charts).
---------------------------------------------- GOLD GOLD GOLD now over $700 per ounce historically it trades abot 15x the price of a barrel of oil...it will continue to go up and this company has mines in the top gold producing country in South America
when we get the geologocal report this will go way up, it was just at .12 last week,and this is a great dip to enter..... -------------------------------------------- MGM Mineral Resources Acquires Exceptional Property in Colombia's High Yielding Gold Zone Wednesday May 3, 9:15 am ET
Gold Company to Modernize Operations and Maximize Production of Newly Acquired Mine
TORONTO--(MARKET WIRE)--May 3, 2006 -- Metro Gold Mines Mineral Resources Inc. (Other OTC:MGMX.PK - News), 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. ADVERTISEMENT
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 (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, 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.
quote:Originally posted by Thorn: What makes you guys think this will move? It looks like a terrible chart to me (but I don't know a lot about charts).
Looking at this chart I see an oversold stock (RSI is 30), that has a rising MACD with lowering prices (positive divergance), which means a major reversal and breakout is coming.
IP: Logged |
MGM Mineral Resources Announces a Corporate and Shareholder Update Wednesday May 10, 2:51 pm ET
Gold Company Reviews Progress to Date, Share Price, Pink Sheets Listing and Unauthorized Spamming
TORONTO--(MARKET WIRE)--May 10, 2006 -- Metro Gold Mines Mineral Resources Inc. (Other OTC:MGMX.PK - News), a growing gold mining company engaged in the acquisition and development of production properties in South and Central America, wishes to provide shareholders with an update on the company's progress and address questions regarding share price, spam emails sent without company authorization, and the status of its listing on the Pink Sheets. ADVERTISEMENT
First, MGM Mineral Resources would like to confirm for shareholders that there has been no material change or event to cause the recent slide in its share price. The company is working diligently to accomplish the objectives outlined in its business plan. In fact, MGM Mineral Resources is reaching certain milestones ahead of schedule.
"There are many external factors that can contribute to such radical changes in the markets. We would like to let our shareholders know that there is absolutely no correlation between the recent share price volatility and the continued development of our business and marketing plans, nor the ongoing efforts of our company," said Ken Lamb, President of MGM Mineral Resources.
As announced, the company has acquired La Esperanza Mine, appointed a world renowned Lead Geologist, and is working to close acquisitions of other promising mining properties in Colombia. The company is finalizing the results of internal geological studies of La Esperanza and is extremely pleased with what it has seen so far. These accomplishments should prove to be beneficial for our shareholders and for the future growth of MGM Mineral Resources.
The company appreciates the recent comments from shareholders who have questioned the posting on the Quote section of the Pink Sheets website. MGM Mineral Resources has been in constant communication with Pink Sheets and the issue is in the process of being resolved in a matter of several business days. At times the most minor of issues can hold up certain parts of the process and the Company appreciates the patience that the shareholders have exercised.
Lastly, the company has endured unauthorized spamming. MGM Mineral Resources, which is currently in the initial stages of a successful venture, does not engage in sending unsolicited spam and regrets that investors may have been exposed to unfounded negative publicity. Bulk unsolicited emails were sent without the authorization or knowledge of the company. Such campaigns are common spam often sent out in massive bulk emails by outside parties attempting to inflate stock and make large personal gains.
"We would like to assure our shareholders that our team was not involved in the spamming of our company's information," commented Mr. Lamb. "MGM Mineral Resources takes pride in building a successful mining company with value and integrity."
In fact, the company encourages investors to review its Mission:
MGM Mineral Resources will develop ethical and efficient gold mining operations, maintaining a fair, secure and non-discriminative work environment. We expect to grow with our surrounding communities and achieve above-average financial returns by maintaining a meaningful share of this high-end market. Our employees are our principal asset. We will provide challenges and rewards to encourage our team to make meaningful contributions to the company and the community.
Mr. Lamb concludes, "MGM Mineral Resources is focused on building company value by achieving the objectives we have outlined, communicating our growth to the investment community, and operating with integrity. We appreciate this opportunity to update our shareholders on our progress."
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, 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.
-------------------- I never knew a Nickle was worth so much....
IP: Logged |
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
Colombia has produced in excess of 125 million ounces of gold, making it South America’s largest recorded gold producer
***this will go back up very soon. WAY OVERSOLD!!!!!! RSI under 30
posted
MGM Mineral Resources Gets Price Target of $0.24 The IO Circuit recommends Metro Gold Mines Mineral Resources Inc. (OTC: MGMX), which received a price target of $0.24 from Market Advisors. Metro Gold is 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.
posted
By the way I have heard alot of things about that stockpatrol and they had much of the story wrong with MGMX.
Took a massive beating things looking up I think the seller could have run out of stock, seems like things were moving alot smoother today, with a valuation PR this thing could really move, the company was giving hints of what is to come in the last PR. looking forward to seeing what MGMX has in store for us Columbia mines are hot.
IP: Logged |
posted
anyone else buy this in the last 3 days at bargain levels...it was a steal, and a lot of people missed out,so sad , too bad , lol...............
IP: Logged |
Estimated Market Cap: 24.0M as of 2006-05-10 (based on Outstanding Shares as of 2006-02-14) Authorized Shares: 400,000,000 as of 2006-02-14 Float: 180,000,000 as of 2006-02-14
-------------------- I never knew a Nickle was worth so much....
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Big Grin]](biggrin.gif)
![[Smile]](smile.gif)
looking forward to seeing what MGMX has in store for us Columbia mines are hot.
