Well at least our partner in Mexico is keeping their SHAREHOLDERS INFORMED RE DEVELOPMENTS ON OUR JOINT PROJECTS
"MX GOLD CORP. ACCELERATES PAYMENT AND ACQUIRES 50% SHARE OWNERSHIP IN MEXICAN COMPANY HOLDING IDS SMELTER PROJECT
Further to its Feb. 13 and April 28 news releases, MX Gold Corp. has paid the remaining amounts due totalling $450,000 (U.S.) to American Metal Mining SA de CV as required under the framework agreement dated Feb. 6, 2017, as amended, thereby acquiring 50 per cent of the shares of Inversiones Durango San Luis SA de CV, a private Mexican corporation that holds the IDS project. As stated in the April 28, 2017, news release, the IDS project consists of a past producing gold smelter, three acres of land situate around the smelter, and various equipment and permits associated therewith.
CEO Dan Omeniuk stated, "With the acquisition complete, both parties are ready to receive shipment of material. The JV management is diversifying ore collection camps to assist more local small miners for mineral supply assurance while optimizing metallurgical blending properties for engineering design."
The Company also announces that, pursuant to a consulting services agreement dated October 20, 2016 between the Company and a third party consultant, the Company issued 85,174 common shares in the capital of the Company to the consultant as a finder's fee in connection with the Company earning its 50% share ownership interest in the Mexican corporation holding the IDS Project.
About MX Gold
MX Gold Corp. is a junior mining company focused on the exploration, development and mining of advanced projects located in British Columbia and Mexico.
