Mahdia Gold Corp is a publicly listed company trading on the Canadian National Stock Exchange (CNSX) under the symbol MGD and is trading at or below $0.40. The company's website is: www.mahdiagold.com. The website of the CNSX exchange is: www.cnsx.ca The company has plans to upgrade exchanges in the near future as I understand, and is in the process of meeting all requirements.
MAHDIA Gold Corporation The company gets its name from a popular resource rich mining town located in central Guyana. Historically the central Guyanese region was made popular by the Omai gold mine. This mine produced approximately 4.000.000 ounces of gold from two open pits. Having identified the potential of this region, Mahdia Gold Corp. has acquired three compelling gold bearing concessions, namely, Omai, Tiger River and White Creek.
The company's vision is to be an aggregator of world class gold properties in the country of Guyana. This vision includes maximizing shareholder value and Mahdia Gold Corp. being the premier destination for investors looking to invest in the precious commodity known as gold.
Omai Gold Mine The Omai gold mine was most recently held by Iamgold after acquisition from Cambior Resources. At the time it was built, in the early nineties, Omai was the largest gold mine in South America. In a period spanning 13 years, Omai produced over 3.7 million ounces of gold during a period when the price of gold was approximately $300 an ounce.
Mahdia Gold is excited by the fact that historical data suggests that Omai still contains significant gold deposits. In 2006-2007, after the 3.7 million ounces of gold was produced, the previous owners drilled the floor of only the Fennell pit with a total of 46 diamond drill holes (27,359 metres) up to a maximum length of 967 m which were used to outline a resource of 17.5 million tonnes at 2.51 grams per tonne for an additional deposit of 1.4 million ounces of gold available for Mahdia Gold to develop from beneath that one pit alone. Additionally, other work was done that consisted of SG measurements, and significant geotechnical work. Iamgold had also created a 3-D Gemcom model of the Sill, Fennell Stock and mineralized zones, and used it to calculate the resource.
The second nearby pit, the Wenot pit was never drilled but it shares a similar geology which demands that Mahdia Gold undertake a full and comprehensive investigation including diamond drilling to establish the potential under the Wenot pit.
Tiger River The Tiger River Property is located near the Omai gold mine in the Mahdia region of Guyana. Historically mined by alluvial gold miners over the last century, it is estimated that over one million ounces of alluvial gold has been recovered from the region using unsophisticated gold mining methods.
A 1995 report prepared by Joel Scodnick (Canadian Geologist) on the Tiger River Property referred to high grades of gold having been recovered from the Williams Creek section of the property in 1947. Joel Scodnick's report drew its references from an article in the financial post at the time (1947). The Scodnick report is important in verifying the potential of the Tiger River Property and further establishes the need for a proper exploration program aimed at identifying and extracting gold assets from the property.
Mahdia Gold Corp intends to begin this exciting and robust exploration program on the Tiger River Property in 2011.
White Creek Property The White Creek property was originally explored by the BHP World Discovery Group in 1998. Regional stream sediment sampling identified a number of drainage basins radiating from the White Creek property that returned anomalous gold. BHP then conducted a widely spaced (1.4 km x 400 metre) soil geochemistry survey and identified a large gold in soil anomaly. However, BHP never conducted any further work on this property. This gold anomaly is considered to be the eastern extension of the Arakaka trend, a northeast-trending mineralized and structural corridor within the Barima-Waini District of Northwestern Guyana.
In 2007, StrataGold and Newmont re-sampled the drainage basins as well as one of the historical BHP soil lines on the White Creek property and confirmed the presence of significant gold values in both stream sediments and soil anomalies over (greater than) 6.0 km in length.
My Take
With the European turmoil and economic uncertainty I wanted to be extra cautious where my money will be invested, as I was investing a large portion of my portfolio.
Due to the EU and the problems overseas, I don't think anyone would argue gold will continue to climb especially during times like these, as it has for centuries. Historic highs are probably on the horizon imo.
Mahdia currently trades on the CNSX, but I am told it is in the process of uplisting exchanges. I am not privy to what exchange(Toronto or Venture), but they are in the process of meeting all requirements. Timeline looks to be Q1, and will be a nice catalyst from its current .40 trading range.
I believe they have a million in the bank currently and have 100 million in infrastructure in place onsite.
There is no need to do anymore financing as far as I know, which is nice.
They have recently began a contract with a firm to assist with exposure, which when coupled with the new exchange will be very exciting.
Its not too often I research a company like this and sink so much of my portfolio into it with confidence. I believe Mahdia may be a life changer for many.
I will continue to update as I believe we will climb into multi-bagger territory. The CEO himself told me he believes this will be a multi-dollar stock. Very exciting times ahead in my opinion!
Please feel free to send me any questions, as I will do my best to answer....or will find the answers.
Art,
PS....I understand the CNSX is a pain to trade...but at the same time it is difficult for the manipulators to play games with the stock(and since this is not a flip play, that shouldn't be a problem). Once uplisted it should be out of the sights and range of the penny flippers IMO
As always, this is not a buy or sell recommendation. It is only a representation of what I am doing, where I am investing and why. I encourage everyone to do their own due diligence and research prior to investing their hard earned money into any investment. Always consult a financial advisor.
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