Monster New Pick!! **MXGD**
Sep 4th, 2009 by beststockreport
Monster family:
Our new pick is MXGD (Midex Gold). You may have heard of the symbol MDXO. This is the same company. They recently just completed a 5-1 forward split!!!! MXGD Operates in the East African Country of Tanzania. MXGD is engaged in the business of mining diamonds. Tanzania is a country that is rich in natural resources.
The company just announced major financing news. This news has yet to be traded on!!!
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=MW&date=20090902&id=10360215
MXGD announced a 5 million dollar financing at .40!!! We often find that the market price should be closer to the finance price.
MXGD’s premier property, the Magembe Property is located directly adjacent to Williamson Mine. The Magembe Property is part of a two-kilometer buffer zone created to surround the Williamson Mine (aka Mwadui) when it was developed in the 1940s and 50s. This buffer zone was formed to prohibit the mining of near-surface diamond deposits in the area immediately adjacent to the mining operation. The Williamson mine is owned 75 per cent by De Beers and 25 per cent by the government of Tanzania, and has a production history that spans six decades. The Williamson pipe covers 360 acres and was considered to be the largest economically exploitable pipe in the world. The mine is the original source of pink diamonds and has produced notable stones including a 54-carat flawless pink diamond and a 388-carat diamond found in 1990.
Local artisanal mining operations were previously active in recovering diamonds from surface alluvial deposits on the western boundary of the Magembe property. Because of the past local native mining activity, the recent 80 carat diamond discovery, and the 2008 exploration results, management believes there’s considerable potential for a commercially profitable diamond mine. To date a total of 41 diamonds and diamond cleavages were recovered from 12 of the 60 samples gathered during the 2008 exploration program.
The company’s technical team has started a systematic sampling program based on aerial magnetic data that will cover the areas of high interest. The exploration program will yield 200 to 300 samples, approximately 50 tons of alluvial gravels will be sampled and tested. The Samples will be shipped to Canada for testing; Management expects results within 30 to 45 days!!!!!
The fact that MXGD is leasing a property right next the world largest diamond pipe is very encouraging. We could see a nice move in MXGD if the results on these tests come back with goo results. The preliminary testing done by the former owners came back with results that gave strong indications that the site could be turned into a commercial diamond mind.
Make sure that you do your own due diligence on MXGD and keep your eye on it closely. The stock closed up 28% and hit .13 intraday.
Happy trading,
Mr. Liquid
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