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where did you find it in pinksheets? under what tab? I couldnt find it earlier but i want to find it for other companies as well. thanks.
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.15++++++++++++ is a very large gain, ( but ) I will see your +.15 and raise you .20+++++++++.lol . I really do feel it is capable of more than that shortly.GLTA
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Of the 180,000,000 float, about 60,000,000 was held by old shareholders from Mercantile. That is pretty much done now as they have dumped those shares over the past week. With them out of the way this stock will soar to new levels. The only reason it has been so low is because of the non stop dumping. Just imagine if .03 is the absolute lowest it could go under the worst circumstances, then imagine the new levels it will reach after the Geo. Report. GLTA
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AI'S ASSETS are going down the drain as the market takes a nosedive. Depressed, he goes to church.
"Grab your Bible and drive to the ocean," the minister advises. "Sit at the water's edge and open the Bible. The wind will riffle the pages, but eventually it'll stay open. Read the first words your eyes fall on and they will tell you what to do."
Al does as he is told. When the pages stop moving, his eyes fall on the words that are meant for him.
A year later, Al returns to see the minister wearing a $1,000 suit and driving a new Jag. He hands the minister a thick envelope. "Please accept this donation for the church," he says. "Thanks for your advice."
"What words did you see that brought you such fortune?" the minister asks.
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Does any one have any new news about MGMX ?? I checked my toilet and its empty, maybe all my nickles are in MGMX's float stock customers toilets!!!!!!!!
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RSI is 30! This is way oversold. IMHO. Great Gold play. Just waiting for that Geo Report. Always wondered what it's like to walk on the moon. Looking forward to it!
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There is a financial report on Pinksheets . com dated May 10th 2006 but the report is in spanish. If anyone could look at it and translate for us into english, it would be much appreciated.
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I've followed this stock very closely the past few weeks and today I could swear there was some dilution. In the afternoon there were quite a few 100k and 200k sells. After the bell there was a 600k buy followed by a 3.4M sell *.026. Why would anyone sell at those prices when this is the lowest this stock has been. I hope I am wrong but this is starting to smell.
-------------------- I never knew a Nickle was worth so much....
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this company is sounding fishier and fishier. all the name changes, ceo changes, and office relocation, gold mines, south america. I bailed out today but Im happy I cut short my loss because I dont think this company can be trusted.
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Past history on MGMX purchase of La Esperenza please read ond tell me what you think
Anglo Andean Mining Company INFORMATION STATEMENT PURSUANT TO RULE 15C2-11 OF THESECURITIES EXCHANGE ACT OF 1934 Item 1. The Exact Name of the Issuer and its Predecessor (if any): Anglo Andean Mining Company, Mercantile Gold Company, AMC American Music Corporation Inc. Item 2. The Address of its Principal Executive Offices: 300 Tanbark Rd. St. Davids, ON Canada, L0S 1P0 www.mgmmineralresources.com Item 3. The State of Incorporation Wyoming (date of continuation – September 23, 2005 from Delaware). Item 4. The Exact Title and Class of the Security Common Stock – 800,000,000 authorized (Ticker: AADN; CUSIP: 034889 10 5) Preferred Stock – 10,000,000 authorized Item 5. The Par or Stated Value of the Security Common Stock – $0.001 par value. Preferred Stock – $0.001 par value Item 6. The Number of Shares or Total Amount of the Securities Outstanding as of December 31, 2005 and March 31, 2006 As of December 31, 2005 Authorized Common Stock: 100,000,000 shares Issued Common Stock: 100,000,000 shares Authorized Preferred Shares: 10,000,000 shares Issued Common Stock: 0 shares As of March 31, 2006 Authorized Common Stock: 800,0000,000 shares Issued Common Stock: 400,039,000 shares Authorized Preferred Shares: 10,000,000 shares Issued Common Stock: 0 shares Item 7. Name and Address of the Transfer Agent Heritage Trust Company 4 King Street West Suite 1320 Toronto, Ontario Canada M5H 2Y2 (SEC Approved Transfer Agent) Item 8. The Nature of the Issuer’s Business A. BUSINESS DEVELOPMENT 1. Form of organization of the issuer: Wyoming corporation. 2. Year that the issuer (or any predecessor) was organized: Incorporated January 23, 1998 in the State of Delaware. On September 23, 2005, the Company redomiciled to the State of Wyoming. 3. Issuer’s fiscal year end date: December 31st. 4. Any bankruptcy, receivership or any similar proceeding of the Issuer (and/or any predecessor): None. 5. Any material reclassification, merger, consolidation, or purchase or sale of a significant amount of assets not in the ordinary course of business: On February 7, 2006, Anglo Andean Mining Company (AADN), and Metro Gold Mines Mineral Resources S.A., a Colombian Anonymous Society (“MGM”), completed a Plan and Agreement of Reorganization whereby AADN issued 400,000,000 shares of its common stock in exchange for all of the outstanding common stock of MGM, through a tax-free reorganization under Sections 368 (a)(1)(B) of the Internal Revenue Code of 1986, as amended. 6. Any default of the terms of any note, loan, lease, or other indebtedness or financing arrangement requiring the issuer to make payments: The Company is not in default of any note, loan, lease, or other indebtedness or financing arrangements to make payments. 7. Any change of control: On February 7, 2006 all of the directors and officers of AADN resigned and new directors and officers were appointed. 8. Any increase in 10% or more of the same class of outstanding equity securities: On February 7, 2006, Anglo Andean Mining Company (AADN), and Metro Gold Mines Mineral Resources S.A., a Colombian Anonymous Society (“MGM”), completed a Plan and Agreement of Reorganization whereby AADN issued 400,000,000 shares of its common stock in exchange for all of the outstanding common stock of MGM, through a tax-free reorganization under Sections 368 (a)(1)(B) of the Internal Revenue Code of 1986, as amended. 9. Any past, pending or anticipated stock split, stock dividend, recapitalization, merger, acquisition, spin-off, or reorganization: On February 7, 2006, Anglo Andean Mining Company (AADN), and Metro Gold Mines Mineral Resources S.A., a Colombian Anonymous Society (“MGM”), completed a Plan and Agreement of Reorganization whereby AADN issued 400,000,000 shares of its common stock in exchange for all of the outstanding common stock of MGM, through a tax-free reorganization under Sections 368 (a)(1)(B) of the Internal Revenue Code of 1986, as amended. Immediately prior to the Plan and Agreement of Reorganization, AADN had 39,000,000 shares of common stock issued and outstanding. The acquisition was accounted for as a recapitalization of MGM because the shareholders of MGM controlled AADN after the acquisition was completed. MGM was treated as the acquiring entity for accounting purposes and AADN was the surviving entity for legal purposes. There was no adjustment to the carrying value of the assets or liabilities of MGM and its wholly owned subsidiaries, nor was there any adjustment to the carrying value of the net assets of AADN. All references to shares of common stock have been retroactively restated. MGM has no subsidiaries. On January 16, 2006, the Board of Directors increased the authorized common shares of the Company from 100,000,000 to 800,000,000 shares. On December 17, 2004, the Board of Directors and the Shareholders passed a one (1) to one thousand (1,000) reverse split. On December 6, 2005, the Board of Directors and the Shareholders changed the name of the Company to Anglo Andean Mining Company. The Company redomiciled to the State of Wyoming on September 23, 2005 from the State of Delaware. On September 13, 2004, the Board of Directors and the Shareholders passed a one (1) to twenty (20) reverse split. On August 26, 2004, the Board of Directors and the Shareholders changed the name of the Company to Mercantile Gold Company and increased the authorized common shares of the Company from 20,000,000 to 100,000,000 Common shares. 10. Any delisting of the issuer’s securities by any securities exchange or NASDAQ: Not Applicable. B. BUSINESS OF ISSUER 1. Issuer’s primary and secondary SIC Codes: SIC Code: Metal mining (1041 - Gold Ores) 2. Issuer’s business status: MGM Minerals was established to explore mineral deposits of gold and other precious minerals in Colombia as well as ramp up production of its existing mines “la Esperanza and Manantiales”. These producing mines are located near the town of Segovia in the Antioquia province in the Republic of Colombia. MGM Mineral Resources has a profitable export plan overseas. It is the company’s intention to make MGM Mineral Resources the most efficient mining company in percentage of gold recovery from the ground, worker’s well-being, and environmental management. The company’s long term goal is to achieve investment return in one and half years and build an excellent image and brand equity. In the past years, “La Esperanza” and “Manantiales” gold mines have been operated as a craft industry. This year, we want to transform these mines by developing a modern administrative and productive infrastructure. MGM Mineral Resources S.A. consists of an experienced and professional staff of executives. We have put together a staff equipped to handle a variety of tasks. The management team has direct knowledge of the industry, extensive research experience and unique administrative skills, with miners, two geologists, a biologist, a lawyer, an accountant and a spokesman. By the same token, in its second year of operation the company will open new gold mines in the same area and will consolidate its partnership with new mine landholders There is no assurance that a commercially viable ore body, a reserve, exists in any of the mineral claims until sufficient exploration work is done and an evaluation of that work concludes economic and legal feasibility. MGM Minerals current plans are strictly limited to research and exploration. MGM Minerals intends to try to remove any mineralized material, if economically viable. If mineralized material is found on any of MGM Minerals’s mineral exploration projects and removal is warranted, and MGM Minerals does not have the adequate working capital to do so, MGM Minerals will have to sell additional common shares or borrow money to finance the cost of removing the mineralized material. There is no assurance that MGM Minerals will have the working capital to remove the mineralized material from its mineral exploration projects, if warranted, and there is no assurance MGM Minerals will be able to raise additional working capital through equity or debt financing. Management Team Officers and Key Employees Kenneth Lamb (President) Mr. Lamb is President of MGM Mineral Resources and possesses a strong sales and marketing background. His excellent administrative skills, as well as his 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. He has been responsible 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. Jairo Antonio Giraldo (Chairman and CEO) He is a mining Engineer from National University in Colombia (Universidad Nacional) with more than forty years of experience within the mining industry. He worked for over ten years with the Ministry of Mines and Energy in Colombia, as well as a well renowned professor throughout the country, including SENA. Although his experience is quite diverse, he is a specialist with emerald, gold, silver and platinum mines. He has been a special advisor for the Colombian government and helped establish the mining regulations that exist today in this country. Currently, he is the Chairman and CEO for Metro Gold Mines Mineral Resources 3. Any parent, subsidiary, or affiliate of the issuer: AADN will be responsible for overall management, financial resources and administration and reporting functions. MGM, a wholly owned subsidiary will be the exploration and development company for the Company’s mining projects and the operating arm of the Company’s Colombian operations and administration. The financial statements of MGM have been consolidated with Anglo Andean Mining Company and are attached to this disclosure document. 4. Effect of existing or probable governmental regulations on the business: The political risk in Colombia is non-existent because the country operates as a democratic nation subject to UN legal guidelines. Our requests to the Colombian government are handled promptly and efficiently. They welcome the foreign investment, and partner with foreign investors to build the country’s infrastructure. MGM recognizes environmental, safety, and social progress issues. The Company is in an extensive consultation period to determine code of conduct guidelines relative to where the Company’s mining operations are based. 5. Amount spent during each of the last two fiscal years on research and development activities: The Company has accumulated $61,400 on research and development activities. 6. Costs and effects of compliance with environmental laws (federal, state and local): The Company’s exploration and mining programs in Colombia are subject to all governmental regulations regarding environmental considerations. All operations involving the exploration for the production of minerals are subject to existing laws and regulations relating to exploration procedures, safety precautions, employee health and safety, air quality standards, pollution of streams and fresh water sources, odor, noise, dust and other environmental protection controls adopted by governmental. The Company may be required to prepare and present to the government data pertaining to the effect or impact that any proposed exploration for or production of minerals may have upon the environment. All requirements imposed by any such authorities may be costly, time consuming and may delay commencement or continuation of exploration or production operations. Future legislation may significantly emphasize the protection of the environment, and, as a consequence, the activities of the Company may be more closely regulated to further the cause of environmental protection. Such legislation, as well as further interpretation of existing laws in Colombia, may require substantial increases in equipment and operating costs to the Company and delays, interruptions, or a termination of operations, the extent of which cannot be predicted. Environmental problems known to exist at this time in Colombia may not be in compliance with regulations that may come into existence in the future. This may have a substantial impact upon the capital expenditures required of the Company in order to deal with such problem and could substantially reduce earnings. At the present time, the Company is in compliance with all known environmental requirements. 7. Number of total employees and number of full time employees: Currently, 25 employees, 20 full time. C. INVESTMENT POLICIES 1. The issuer does not own any real estate. 2. The issuer has not investment in mortgages. 3. There is no one individual involved in real estate investment activity. Item 9. The Nature of the Products or Services Offered 1. Principal products or services, and their markets: Exploration, production, acquisition, and trade of gold and other precious minerals. With worldwide demand continuing to grow, including demand from Japan, China, India and the United States, it is expected that this industry be far from saturation and pure competition. Pure competition is also not expected to ever be reached given that license acquisition and access to infrastructure act as barriers to entry and provide a great deal of insulation for players. 2. Distribution methods of the products or services: We will be depended on the existing infrastructure within the project areas. Our products would be delivered by truck. Product will be sent to a central depot or refiners from where it can be delivered by ship, rail or truck to the domestic market, if necessary. 3. Status of any publicly announced new product or service: None. 4. Competitive business conditions, the issuer’s competitive position in the industry, and methods of competition: The gold mining industry is highly fragmented a competitive. We are competing with many other exploration companies looking for gold and other minerals. We are among the smallest exploration companies in existence and are an infinitely small participant in the gold exploration business which is the foundation of the mining industry. While we generally compete with other exploration companies, there is no competition for the exploration or removal of minerals from our claims or properties. Readily available commodities markets exist in Colombia and around the world for the sale of gold and other minerals. Therefore, if we discover mineralization on any of our properties, we would likely be able to sell the minerals in the market. 5. Sources and availability of raw materials and the names of principal suppliers: The Company does not manufacture any products directly. 6. Dependence on one or a few major customers: The Company does not have any major customers that it depends on. The Company is still in the start up phase and has not as of yet negotiated a contract with a major client. Gold and other minerals can be readily sold on numerous markets throughout the world and it is not difficult to ascertain their market price at any particular time. Since there are a large number of available gold and silver purchasers, the Company is not dependent upon the sale of gold or silver to any one customer. The gold and other minerals will be delivered to meet commitments under gold sale contracts or sold to various dealers or smelters on a competitive basis at spot prices. Management believes that, because of the availability of alternative refiners, no material adverse effect would result if the Company lost the services of any of its future refiners. 7. Patents, trademarks, licenses, franchises, concessions, royalty agreements or labor contracts, including their duration: The Company does currently own any patents or trade marks. Also, it is not party to any license or franchise agreements, concessions, royalty agreements or labor contracts arising from any patents or trade marks. The Company’s web site www.mgmmineralresources.com is copyrighted upon loading and is registered domain names of the Company. 8. Need for any government approval of principal products or services: The Company’s exploration and prospecting activities in Colombia require it to obtain permits granting the right to engage in such activities on the leases. The legal and regulatory environment that pertains to the exploration of minerals is uncertain and may change. Uncertainty and new regulations could increase our costs of doing business and prevent us from exploring for mineral deposits. The growth of demand for minerals may also be significantly slowed. This could delay growth in potential demand for and limit our ability to generate revenues. In addition to new laws and regulations being adopted, existing laws may be applied to mining that have not as yet been applied. These new laws may increase our cost of doing business with the result that our financial condition and operating results may be harmed. Item 10. The Nature and Extend of the Issuer’s Facilities: Offices are provided by Ken Lamb at no costs on a month-to-month basis and are located at 300 Tanbark Rd. St. Davids, ON Canada, L0S 1P0. The issuer owns all assets shown on the balance sheet. Item 11. The Names of the Chief Executive Officers and Members of the Board of Directors: Name Position Jairo Antonio Giraldo Chief Executive Officer, Director Kenneth Lamb President, Director Fernando Parra Giraldo Secretary Security Ownership Of Certain Beneficial Owners And Management The following table sets forth, as of March 31, 2006, certain information with respect to the beneficial ownership of our common stock by (i) each director and officer of the Company, (ii) each person known to the Company to be the beneficial owner of five percent (10%) or more of the outstanding shares of common stock, with such person’s address, and (iii) all of the directors and officers as a group. Unless otherwise indicated, the person or entity listed in the table is the beneficial owner of the shares and has sole voting and investment power with respect to the shares indicated. Name Title of Class Owner Address of Beneficial Owner Amount Percent of Class Jairo Antonio Giraldo 33,000,000 8.25% Kenneth Lamb 22,000,000 5.50% Fernando Parra Giraldo 33,000,000 8.25% Gilberto Antonio Zapata Hurtado 33,000,000 8.25% Rodrigo Hernan Betaneur Quintero 20,900,000 5.22% Total of all Directors and Officers 141,900,000 35.47% Total of all 10% or greater shareholders 0 0.0% TOTAL 141,900,000 35.47% Beneficial Owners and Disclosure of Certain Relationships: 1) Non-Corporate Beneficial Owners 10% or greater: none 2) Corporate shareholders over 10%: none 3) To the extent not otherwise disclosed, describe any relationships existing among and between the issuer’s officers, directors and shareholders. Jairo Antonio Giraldo and Fernando Parra Giraldo are uncle and nephew, respectively. There are no other relationships between the 10% shareholders and the directors & officers of the Company. 4) To the extent not otherwise disclosed, describe all relationships and affiliations among and between the shareholders and the issuer, its predecessors, its present and prior officers and directors, and other shareholders. None other than describe above. Legal/Disciplinary History 1 - None of the above named individuals have any criminal convictions and are not involved in any criminal proceedings. 2 - None of the above named individuals face any restrictions that would allow them to not participate in any business, securities, commodities, or banking activities. 3 – None of the above named individuals are in violation of any federal or state securities or commodities laws. 4 – None of the above named individuals face any suspensions, which prohibits their involvement in any type of business or securities activity. Item 12. The Issuer’s Most Recent Balance Sheet, Statement of Operations and Statement of Cash Flows See Exhibit “A” for financial information. The financial statement attached as an exhibit are certified by the signing officer of the Company that they present fairly, in all material respects, the financial position, results of operations and cash flows for the period presented, in conformity with General Accepted Accounting Principles (GAAP). In addition the Company will provide quarterly statements within 45 days of the quarter end and will provide annual statements within 90 days of the fiscal year end. Such statements shall be in conformity with General Accepted Accounting Principles (GAAP) and shall either be audited or obtain certification by the financial principle of the Company. Item 13. Similar Financial Information For Such Part Of The Two Preceding Fiscal Years As That Issuer Or Its Predecessor Has Been In Existence See Exhibit “A” for financial information. The financial statement attached as an exhibit are certified by the signing officer of the Company that they present fairly, in all material respects, the financial position, results of operations and cash flows for the period presented, in conformity with accounting principles, consistently applied. The above information has been undersigned on the date indicated. /s/ Kenneth Lamb Kenneth Lamb President 4/20/2006 EXHIBIT A Financial Statements
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR PLAN OF OPERATION Cautionary Statement Regarding Forward-Looking Statements Certain statements contained in this Section and elsewhere in this report regarding matters that are not historical facts are forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. All statements, which address operating performance, events or developments that management expects or anticipates to incur in the future, including statements relating to revenues and earnings growth or statements expressing general optimism about future operating results, are forward-looking statements. The forwardlooking statements are based on management’s current views and assumptions regarding future events and operating performance. Many factors could cause actual results to differ materially from estimates contained The Company operates in the mining industry and the Company believes it has certain products, which could be well received in the market place and hence could generate revenues and profits for the Company. The Company’s products and business are described in detail in the corporate web site www.mgmmineralresources.com and investors are urged to review the information contained on the Company website, along with the Company’s 15C211 Information Statement at www.pinksheets.com. The Company has prepared its financial statements according to generally accepted accounting principals (GAAP) and management hereby certifies the same. Anglo Andean Mining Company By: Kenneth Lamb President Date: April 20, 2006
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Past history on MGMX purchase of La Esperenza please read ond tell me what you think
Anglo Andean Mining Company INFORMATION STATEMENT PURSUANT TO RULE 15C2-11 OF THESECURITIES EXCHANGE ACT OF 1934 Item 1. The Exact Name of the Issuer and its Predecessor (if any): Anglo Andean Mining Company, Mercantile Gold Company, AMC American Music Corporation Inc. Item 2. The Address of its Principal Executive Offices: 300 Tanbark Rd. St. Davids, ON Canada, L0S 1P0 www.mgmmineralresources.com Item 3. The State of Incorporation Wyoming (date of continuation – September 23, 2005 from Delaware). Item 4. The Exact Title and Class of the Security Common Stock – 800,000,000 authorized (Ticker: AADN; CUSIP: 034889 10 5) Preferred Stock – 10,000,000 authorized Item 5. The Par or Stated Value of the Security Common Stock – $0.001 par value. Preferred Stock – $0.001 par value Item 6. The Number of Shares or Total Amount of the Securities Outstanding as of December 31, 2005 and March 31, 2006 As of December 31, 2005 Authorized Common Stock: 100,000,000 shares Issued Common Stock: 100,000,000 shares Authorized Preferred Shares: 10,000,000 shares Issued Common Stock: 0 shares As of March 31, 2006 Authorized Common Stock: 800,0000,000 shares Issued Common Stock: 400,039,000 shares Authorized Preferred Shares: 10,000,000 shares Issued Common Stock: 0 shares Item 7. Name and Address of the Transfer Agent Heritage Trust Company 4 King Street West Suite 1320 Toronto, Ontario Canada M5H 2Y2 (SEC Approved Transfer Agent) Item 8. The Nature of the Issuer’s Business A. BUSINESS DEVELOPMENT 1. Form of organization of the issuer: Wyoming corporation. 2. Year that the issuer (or any predecessor) was organized: Incorporated January 23, 1998 in the State of Delaware. On September 23, 2005, the Company redomiciled to the State of Wyoming. 3. Issuer’s fiscal year end date: December 31st. 4. Any bankruptcy, receivership or any similar proceeding of the Issuer (and/or any predecessor): None. 5. Any material reclassification, merger, consolidation, or purchase or sale of a significant amount of assets not in the ordinary course of business: On February 7, 2006, Anglo Andean Mining Company (AADN), and Metro Gold Mines Mineral Resources S.A., a Colombian Anonymous Society (“MGM”), completed a Plan and Agreement of Reorganization whereby AADN issued 400,000,000 shares of its common stock in exchange for all of the outstanding common stock of MGM, through a tax-free reorganization under Sections 368 (a)(1)(B) of the Internal Revenue Code of 1986, as amended. 6. Any default of the terms of any note, loan, lease, or other indebtedness or financing arrangement requiring the issuer to make payments: The Company is not in default of any note, loan, lease, or other indebtedness or financing arrangements to make payments. 7. Any change of control: On February 7, 2006 all of the directors and officers of AADN resigned and new directors and officers were appointed. 8. Any increase in 10% or more of the same class of outstanding equity securities: On February 7, 2006, Anglo Andean Mining Company (AADN), and Metro Gold Mines Mineral Resources S.A., a Colombian Anonymous Society (“MGM”), completed a Plan and Agreement of Reorganization whereby AADN issued 400,000,000 shares of its common stock in exchange for all of the outstanding common stock of MGM, through a tax-free reorganization under Sections 368 (a)(1)(B) of the Internal Revenue Code of 1986, as amended. 9. Any past, pending or anticipated stock split, stock dividend, recapitalization, merger, acquisition, spin-off, or reorganization: On February 7, 2006, Anglo Andean Mining Company (AADN), and Metro Gold Mines Mineral Resources S.A., a Colombian Anonymous Society (“MGM”), completed a Plan and Agreement of Reorganization whereby AADN issued 400,000,000 shares of its common stock in exchange for all of the outstanding common stock of MGM, through a tax-free reorganization under Sections 368 (a)(1)(B) of the Internal Revenue Code of 1986, as amended. Immediately prior to the Plan and Agreement of Reorganization, AADN had 39,000,000 shares of common stock issued and outstanding. The acquisition was accounted for as a recapitalization of MGM because the shareholders of MGM controlled AADN after the acquisition was completed. MGM was treated as the acquiring entity for accounting purposes and AADN was the surviving entity for legal purposes. There was no adjustment to the carrying value of the assets or liabilities of MGM and its wholly owned subsidiaries, nor was there any adjustment to the carrying value of the net assets of AADN. All references to shares of common stock have been retroactively restated. MGM has no subsidiaries. On January 16, 2006, the Board of Directors increased the authorized common shares of the Company from 100,000,000 to 800,000,000 shares. On December 17, 2004, the Board of Directors and the Shareholders passed a one (1) to one thousand (1,000) reverse split. On December 6, 2005, the Board of Directors and the Shareholders changed the name of the Company to Anglo Andean Mining Company. The Company redomiciled to the State of Wyoming on September 23, 2005 from the State of Delaware. On September 13, 2004, the Board of Directors and the Shareholders passed a one (1) to twenty (20) reverse split. On August 26, 2004, the Board of Directors and the Shareholders changed the name of the Company to Mercantile Gold Company and increased the authorized common shares of the Company from 20,000,000 to 100,000,000 Common shares. 10. Any delisting of the issuer’s securities by any securities exchange or NASDAQ: Not Applicable. B. BUSINESS OF ISSUER 1. Issuer’s primary and secondary SIC Codes: SIC Code: Metal mining (1041 - Gold Ores) 2. Issuer’s business status: MGM Minerals was established to explore mineral deposits of gold and other precious minerals in Colombia as well as ramp up production of its existing mines “la Esperanza and Manantiales”. These producing mines are located near the town of Segovia in the Antioquia province in the Republic of Colombia. MGM Mineral Resources has a profitable export plan overseas. It is the company’s intention to make MGM Mineral Resources the most efficient mining company in percentage of gold recovery from the ground, worker’s well-being, and environmental management. The company’s long term goal is to achieve investment return in one and half years and build an excellent image and brand equity. In the past years, “La Esperanza” and “Manantiales” gold mines have been operated as a craft industry. This year, we want to transform these mines by developing a modern administrative and productive infrastructure. MGM Mineral Resources S.A. consists of an experienced and professional staff of executives. We have put together a staff equipped to handle a variety of tasks. The management team has direct knowledge of the industry, extensive research experience and unique administrative skills, with miners, two geologists, a biologist, a lawyer, an accountant and a spokesman. By the same token, in its second year of operation the company will open new gold mines in the same area and will consolidate its partnership with new mine landholders There is no assurance that a commercially viable ore body, a reserve, exists in any of the mineral claims until sufficient exploration work is done and an evaluation of that work concludes economic and legal feasibility. MGM Minerals current plans are strictly limited to research and exploration. MGM Minerals intends to try to remove any mineralized material, if economically viable. If mineralized material is found on any of MGM Minerals’s mineral exploration projects and removal is warranted, and MGM Minerals does not have the adequate working capital to do so, MGM Minerals will have to sell additional common shares or borrow money to finance the cost of removing the mineralized material. There is no assurance that MGM Minerals will have the working capital to remove the mineralized material from its mineral exploration projects, if warranted, and there is no assurance MGM Minerals will be able to raise additional working capital through equity or debt financing. Management Team Officers and Key Employees Kenneth Lamb (President) Mr. Lamb is President of MGM Mineral Resources and possesses a strong sales and marketing background. His excellent administrative skills, as well as his 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. He has been responsible 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. Jairo Antonio Giraldo (Chairman and CEO) He is a mining Engineer from National University in Colombia (Universidad Nacional) with more than forty years of experience within the mining industry. He worked for over ten years with the Ministry of Mines and Energy in Colombia, as well as a well renowned professor throughout the country, including SENA. Although his experience is quite diverse, he is a specialist with emerald, gold, silver and platinum mines. He has been a special advisor for the Colombian government and helped establish the mining regulations that exist today in this country. Currently, he is the Chairman and CEO for Metro Gold Mines Mineral Resources 3. Any parent, subsidiary, or affiliate of the issuer: AADN will be responsible for overall management, financial resources and administration and reporting functions. MGM, a wholly owned subsidiary will be the exploration and development company for the Company’s mining projects and the operating arm of the Company’s Colombian operations and administration. The financial statements of MGM have been consolidated with Anglo Andean Mining Company and are attached to this disclosure document. 4. Effect of existing or probable governmental regulations on the business: The political risk in Colombia is non-existent because the country operates as a democratic nation subject to UN legal guidelines. Our requests to the Colombian government are handled promptly and efficiently. They welcome the foreign investment, and partner with foreign investors to build the country’s infrastructure. MGM recognizes environmental, safety, and social progress issues. The Company is in an extensive consultation period to determine code of conduct guidelines relative to where the Company’s mining operations are based. 5. Amount spent during each of the last two fiscal years on research and development activities: The Company has accumulated $61,400 on research and development activities. 6. Costs and effects of compliance with environmental laws (federal, state and local): The Company’s exploration and mining programs in Colombia are subject to all governmental regulations regarding environmental considerations. All operations involving the exploration for the production of minerals are subject to existing laws and regulations relating to exploration procedures, safety precautions, employee health and safety, air quality standards, pollution of streams and fresh water sources, odor, noise, dust and other environmental protection controls adopted by governmental. The Company may be required to prepare and present to the government data pertaining to the effect or impact that any proposed exploration for or production of minerals may have upon the environment. All requirements imposed by any such authorities may be costly, time consuming and may delay commencement or continuation of exploration or production operations. Future legislation may significantly emphasize the protection of the environment, and, as a consequence, the activities of the Company may be more closely regulated to further the cause of environmental protection. Such legislation, as well as further interpretation of existing laws in Colombia, may require substantial increases in equipment and operating costs to the Company and delays, interruptions, or a termination of operations, the extent of which cannot be predicted. Environmental problems known to exist at this time in Colombia may not be in compliance with regulations that may come into existence in the future. This may have a substantial impact upon the capital expenditures required of the Company in order to deal with such problem and could substantially reduce earnings. At the present time, the Company is in compliance with all known environmental requirements. 7. Number of total employees and number of full time employees: Currently, 25 employees, 20 full time. C. INVESTMENT POLICIES 1. The issuer does not own any real estate. 2. The issuer has not investment in mortgages. 3. There is no one individual involved in real estate investment activity. Item 9. The Nature of the Products or Services Offered 1. Principal products or services, and their markets: Exploration, production, acquisition, and trade of gold and other precious minerals. With worldwide demand continuing to grow, including demand from Japan, China, India and the United States, it is expected that this industry be far from saturation and pure competition. Pure competition is also not expected to ever be reached given that license acquisition and access to infrastructure act as barriers to entry and provide a great deal of insulation for players. 2. Distribution methods of the products or services: We will be depended on the existing infrastructure within the project areas. Our products would be delivered by truck. Product will be sent to a central depot or refiners from where it can be delivered by ship, rail or truck to the domestic market, if necessary. 3. Status of any publicly announced new product or service: None. 4. Competitive business conditions, the issuer’s competitive position in the industry, and methods of competition: The gold mining industry is highly fragmented a competitive. We are competing with many other exploration companies looking for gold and other minerals. We are among the smallest exploration companies in existence and are an infinitely small participant in the gold exploration business which is the foundation of the mining industry. While we generally compete with other exploration companies, there is no competition for the exploration or removal of minerals from our claims or properties. Readily available commodities markets exist in Colombia and around the world for the sale of gold and other minerals. Therefore, if we discover mineralization on any of our properties, we would likely be able to sell the minerals in the market. 5. Sources and availability of raw materials and the names of principal suppliers: The Company does not manufacture any products directly. 6. Dependence on one or a few major customers: The Company does not have any major customers that it depends on. The Company is still in the start up phase and has not as of yet negotiated a contract with a major client. Gold and other minerals can be readily sold on numerous markets throughout the world and it is not difficult to ascertain their market price at any particular time. Since there are a large number of available gold and silver purchasers, the Company is not dependent upon the sale of gold or silver to any one customer. The gold and other minerals will be delivered to meet commitments under gold sale contracts or sold to various dealers or smelters on a competitive basis at spot prices. Management believes that, because of the availability of alternative refiners, no material adverse effect would result if the Company lost the services of any of its future refiners. 7. Patents, trademarks, licenses, franchises, concessions, royalty agreements or labor contracts, including their duration: The Company does currently own any patents or trade marks. Also, it is not party to any license or franchise agreements, concessions, royalty agreements or labor contracts arising from any patents or trade marks. The Company’s web site www.mgmmineralresources.com is copyrighted upon loading and is registered domain names of the Company. 8. Need for any government approval of principal products or services: The Company’s exploration and prospecting activities in Colombia require it to obtain permits granting the right to engage in such activities on the leases. The legal and regulatory environment that pertains to the exploration of minerals is uncertain and may change. Uncertainty and new regulations could increase our costs of doing business and prevent us from exploring for mineral deposits. The growth of demand for minerals may also be significantly slowed. This could delay growth in potential demand for and limit our ability to generate revenues. In addition to new laws and regulations being adopted, existing laws may be applied to mining that have not as yet been applied. These new laws may increase our cost of doing business with the result that our financial condition and operating results may be harmed. Item 10. The Nature and Extend of the Issuer’s Facilities: Offices are provided by Ken Lamb at no costs on a month-to-month basis and are located at 300 Tanbark Rd. St. Davids, ON Canada, L0S 1P0. The issuer owns all assets shown on the balance sheet. Item 11. The Names of the Chief Executive Officers and Members of the Board of Directors: Name Position Jairo Antonio Giraldo Chief Executive Officer, Director Kenneth Lamb President, Director Fernando Parra Giraldo Secretary Security Ownership Of Certain Beneficial Owners And Management The following table sets forth, as of March 31, 2006, certain information with respect to the beneficial ownership of our common stock by (i) each director and officer of the Company, (ii) each person known to the Company to be the beneficial owner of five percent (10%) or more of the outstanding shares of common stock, with such person’s address, and (iii) all of the directors and officers as a group. Unless otherwise indicated, the person or entity listed in the table is the beneficial owner of the shares and has sole voting and investment power with respect to the shares indicated. Name Title of Class Owner Address of Beneficial Owner Amount Percent of Class Jairo Antonio Giraldo 33,000,000 8.25% Kenneth Lamb 22,000,000 5.50% Fernando Parra Giraldo 33,000,000 8.25% Gilberto Antonio Zapata Hurtado 33,000,000 8.25% Rodrigo Hernan Betaneur Quintero 20,900,000 5.22% Total of all Directors and Officers 141,900,000 35.47% Total of all 10% or greater shareholders 0 0.0% TOTAL 141,900,000 35.47% Beneficial Owners and Disclosure of Certain Relationships: 1) Non-Corporate Beneficial Owners 10% or greater: none 2) Corporate shareholders over 10%: none 3) To the extent not otherwise disclosed, describe any relationships existing among and between the issuer’s officers, directors and shareholders. Jairo Antonio Giraldo and Fernando Parra Giraldo are uncle and nephew, respectively. There are no other relationships between the 10% shareholders and the directors & officers of the Company. 4) To the extent not otherwise disclosed, describe all relationships and affiliations among and between the shareholders and the issuer, its predecessors, its present and prior officers and directors, and other shareholders. None other than describe above. Legal/Disciplinary History 1 - None of the above named individuals have any criminal convictions and are not involved in any criminal proceedings. 2 - None of the above named individuals face any restrictions that would allow them to not participate in any business, securities, commodities, or banking activities. 3 – None of the above named individuals are in violation of any federal or state securities or commodities laws. 4 – None of the above named individuals face any suspensions, which prohibits their involvement in any type of business or securities activity. Item 12. The Issuer’s Most Recent Balance Sheet, Statement of Operations and Statement of Cash Flows See Exhibit “A” for financial information. The financial statement attached as an exhibit are certified by the signing officer of the Company that they present fairly, in all material respects, the financial position, results of operations and cash flows for the period presented, in conformity with General Accepted Accounting Principles (GAAP). In addition the Company will provide quarterly statements within 45 days of the quarter end and will provide annual statements within 90 days of the fiscal year end. Such statements shall be in conformity with General Accepted Accounting Principles (GAAP) and shall either be audited or obtain certification by the financial principle of the Company. Item 13. Similar Financial Information For Such Part Of The Two Preceding Fiscal Years As That Issuer Or Its Predecessor Has Been In Existence See Exhibit “A” for financial information. The financial statement attached as an exhibit are certified by the signing officer of the Company that they present fairly, in all material respects, the financial position, results of operations and cash flows for the period presented, in conformity with accounting principles, consistently applied. The above information has been undersigned on the date indicated. /s/ Kenneth Lamb Kenneth Lamb President 4/20/2006 EXHIBIT A Financial Statements
MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION OR PLAN OF OPERATION Cautionary Statement Regarding Forward-Looking Statements Certain statements contained in this Section and elsewhere in this report regarding matters that are not historical facts are forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. All statements, which address operating performance, events or developments that management expects or anticipates to incur in the future, including statements relating to revenues and earnings growth or statements expressing general optimism about future operating results, are forward-looking statements. The forwardlooking statements are based on management’s current views and assumptions regarding future events and operating performance. Many factors could cause actual results to differ materially from estimates contained The Company operates in the mining industry and the Company believes it has certain products, which could be well received in the market place and hence could generate revenues and profits for the Company. The Company’s products and business are described in detail in the corporate web site www.mgmmineralresources.com and investors are urged to review the information contained on the Company website, along with the Company’s 15C211 Information Statement at www.pinksheets.com. The Company has prepared its financial statements according to generally accepted accounting principals (GAAP) and management hereby certifies the same. Anglo Andean Mining Company By: Kenneth Lamb President Date: April 20, 2006
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Sleepy, I have read this several times in the past two weeks and it sounds great to me. But I still have doubts. I am not bashing this stock because I have quite a few shares. I am just trying to bring out all the facts and other peoples opinions. I hope that MGMX proves me wrong and this stock is a 10 bagger
-------------------- I never knew a Nickle was worth so much....
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I agree with you and also know there are lots of valid and good reasins why the stock is moving in its present direction one big one is fear due to lack of info. and present market cond. I also am holding a larg share and have been considering vallium !!!!!
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today i recieved an e-mail from mgmx please read;
We thank you for your email. Please be advised that there is no correlation between the recent stock price or any dillution occuring with our company. There is still plenty of information yet to released about our Company and it's future progress and growth. We would like to thank you for your patience and the entire public at large will be receiving additional news about our company in the very near future. Management
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