Here`s the article.

chevy56

Gold Futures Fall on Bank Sales; Silver Advances (Correct)

By Pham-Duy Nguyen

June 5 (Bloomberg) -- Gold in New York fell on speculation that central banks will increase bullion sales. Silver rose.

European central banks will probably sell all 500 metric tons of gold allowed under an agreement that goes through Sept. 26, UBS AG said in a report today. UBS previously forecast sales of 400 tons. Gold gained 1.5 percent on June 1, partly because the European Central Bank, one of the signatories of the accord, said it won't sell more gold until September.

``Central bank sales have been holding gold back,'' said Frank Lesh, a trader at FuturePath LLC in Chicago. ``What a better time for central banks to sell than on the rallies.''

Gold futures for August delivery fell $1.20, or 0.2 percent, to $675.10 an ounce on the Comex division of the New York Mercantile Exchange. The price earlier climbed as high as $678.80 and fell as low as $674.20.

Spain's central bank reduced its gold holdings to 9.9 million ounces in May, from 10.8 million ounces at the end of April, according to a statement on its Web site today. The ECB said two members of the Eurosystem sold gold worth 29 million euros ($39 million) last week.

``The market seems to be more fazed by central-bank selling than buying,'' said Robin Bhar, a UBS analyst in London. ``This could have a depressing influence on the price.''

Before today's announcements, signatories had sold about 290 metric tons of gold since September, according to the producer- funded World Gold Council.

Fed Outlook

Gold and silver opened higher after Federal Reserve Chairman Ben Bernanke suggested interest rates may not rise anytime soon, weakening the dollar against the euro.

Bernanke said tighter lending standards for mortgages will ``restrain'' housing demand longer than policy makers expected. The Fed has kept rates unchanged at 5.25 percent since June 2006.

``The dollar is down again and that's certainly going to be a good push for gold,'' said Lesh of FuturePath.

The euro reached a record $1.3681 against the dollar on April 27. The 13-nation currency traded as high as $1.3554 today.

Silver futures for July rose 6.7 cents, or 0.5 percent, to $13.812 an ounce. Before today, the metal had gained 6.3 percent this year while gold had climbed 6 percent.

A futures contract is an obligation to buy or sell a commodity at a set price for delivery by a specific date.

To contact the reporter on this story: Pham-Duy

Here`s the article.

chevy56

Gold Futures Fall on Bank Sales; Silver Advances (Correct)

By Pham-Duy Nguyen

June 5 (Bloomberg) -- Gold in New York fell on speculation that central banks will increase bullion sales. Silver rose.

European central banks will probably sell all 500 metric tons of gold allowed under an agreement that goes through Sept. 26, UBS AG said in a report today. UBS previously forecast sales of 400 tons. Gold gained 1.5 percent on June 1, partly because the European Central Bank, one of the signatories of the accord, said it won't sell more gold until September.

``Central bank sales have been holding gold back,'' said Frank Lesh, a trader at FuturePath LLC in Chicago. ``What a better time for central banks to sell than on the rallies.''

Gold futures for August delivery fell $1.20, or 0.2 percent, to $675.10 an ounce on the Comex division of the New York Mercantile Exchange. The price earlier climbed as high as $678.80 and fell as low as $674.20.

Spain's central bank reduced its gold holdings to 9.9 million ounces in May, from 10.8 million ounces at the end of April, according to a statement on its Web site today. The ECB said two members of the Eurosystem sold gold worth 29 million euros ($39 million) last week.

``The market seems to be more fazed by central-bank selling than buying,'' said Robin Bhar, a UBS analyst in London. ``This could have a depressing influence on the price.''

Before today's announcements, signatories had sold about 290 metric tons of gold since September, according to the producer- funded World Gold Council.

Fed Outlook

Gold and silver opened higher after Federal Reserve Chairman Ben Bernanke suggested interest rates may not rise anytime soon, weakening the dollar against the euro.

Bernanke said tighter lending standards for mortgages will ``restrain'' housing demand longer than policy makers expected. The Fed has kept rates unchanged at 5.25 percent since June 2006.

``The dollar is down again and that's certainly going to be a good push for gold,'' said Lesh of FuturePath.

The euro reached a record $1.3681 against the dollar on April 27. The 13-nation currency traded as high as $1.3554 today.

Silver futures for July rose 6.7 cents, or 0.5 percent, to $13.812 an ounce. Before today, the metal had gained 6.3 percent this year while gold had climbed 6 percent.

A futures contract is an obligation to buy or sell a commodity at a set price for delivery by a specific date.

To contact the reporter on this story: Pham-Duy

Here`s the article.

chevy56

Gold Futures Fall on Bank Sales; Silver Advances (Correct)

By Pham-Duy Nguyen

June 5 (Bloomberg) -- Gold in New York fell on speculation that central banks will increase bullion sales. Silver rose.

European central banks will probably sell all 500 metric tons of gold allowed under an agreement that goes through Sept. 26, UBS AG said in a report today. UBS previously forecast sales of 400 tons. Gold gained 1.5 percent on June 1, partly because the European Central Bank, one of the signatories of the accord, said it won't sell more gold until September.

``Central bank sales have been holding gold back,'' said Frank Lesh, a trader at FuturePath LLC in Chicago. ``What a better time for central banks to sell than on the rallies.''

Gold futures for August delivery fell $1.20, or 0.2 percent, to $675.10 an ounce on the Comex division of the New York Mercantile Exchange. The price earlier climbed as high as $678.80 and fell as low as $674.20.

Spain's central bank reduced its gold holdings to 9.9 million ounces in May, from 10.8 million ounces at the end of April, according to a statement on its Web site today. The ECB said two members of the Eurosystem sold gold worth 29 million euros ($39 million) last week.

``The market seems to be more fazed by central-bank selling than buying,'' said Robin Bhar, a UBS analyst in London. ``This could have a depressing influence on the price.''

Before today's announcements, signatories had sold about 290 metric tons of gold since September, according to the producer- funded World Gold Council.

Fed Outlook

Gold and silver opened higher after Federal Reserve Chairman Ben Bernanke suggested interest rates may not rise anytime soon, weakening the dollar against the euro.

Bernanke said tighter lending standards for mortgages will ``restrain'' housing demand longer than policy makers expected. The Fed has kept rates unchanged at 5.25 percent since June 2006.

``The dollar is down again and that's certainly going to be a good push for gold,'' said Lesh of FuturePath.

The euro reached a record $1.3681 against the dollar on April 27. The 13-nation currency traded as high as $1.3554 today.

Silver futures for July rose 6.7 cents, or 0.5 percent, to $13.812 an ounce. Before today, the metal had gained 6.3 percent this year while gold had climbed 6 percent.

A futures contract is an obligation to buy or sell a commodity at a set price for delivery by a specific date.

To contact the reporter on this story: Pham-Duy

Central Banks dumping gold onto the market..

chevy56

Dryden,

Notice that moving average coming soon?

chevy56

Hilander,


MGMX....

Next move should be in 17 days. It has since settled down to a lower share price, I am looking forward to it`s next move.


chevy56

Hilander,

Thanks for your post.

Charts have started to interest me, I have a stock, on it`s 52 day moving average bumped up 12 points, with no PR from the company....

Again thanks.

chevy56

Seems MGMX has dropped down from .0005 to .0004...

.0005 is the average...

Could be do to low volume...day traders...

Moving towards it`s next 50 day moving average...let`s see what happens.

A PR is needed here.


chevy56

amfas,

these guys out of business??, or gone under ground.

chevy56

Hilander,

Will keep my eye on it, could happen...I`m not a chartist, have been following them as of late.


chevy56

Interesting, trading in a tight range.


chevy56

Wonder what MGMX will offer a Geologist ?....

Just reading about a Geologist, offer 300,000 stock options at an exercise price of $0.27 per share...
valid for five years,subject to regulatory acceptance..

chevy56

Yep spellbound,

Solar panels, electric car. home paid for.

chevy56

Dryden,

Hope with the 50 day moving average coming soon, we will see a nice up tick.

Last run went to .0014.


chevy56

orthoman,

Yes, pretty much...read HAK41 and Sams message.

chevy56

HAK41,

I do agree, R/S can be a problem...

I`ve seen 5000 to 1 , 2000 to 1, shssssh...

In this case it might be worth the gamble...

Guess I will Ponder on this one, maybe a future...

chevy56

samgj2006,

Thanks for your answer.

I agree with you on problems in the third world.

Read that Platinum Companies in Africa pay millions to warlords to do business.

I`m sure the danger in extracting platinum has something to do with the higher price......

Again thanks..

chevy56

HAK41,

Do you know anything on that subject, you or Sam ?


Out there near Plain-Old Texas, I could not help myself HAK, my daughter lives in Plano, I give her the blues about that name.; }

chevy56

HAK41,

Under the new rules, penny stocks will be .25 cents?


chevy56

panning4gold,

We both noticed, yes, sanity is something to hold onto..;]

chevy56

wu h,

Waiting on geologist report...

MGMX has not been able to secure us a geologist, need a physical check of there mines....

chevy56

wu h,

Problems with old PR company, lawsuit, hope, will or is being settled by MGMX..


chevy56

justiciero,

Great to have you aboard...


chevy56

panning4gold,

I`ve noticed the same pattern for sometime now...

Hope MGMX will get a geologist that will inspect those mines, should that happen this stock will take wings.


chevy56

May the gold gods be with us...

What I think Ken Lamb is trying to do, get a Geologist to check his mines..if he can do this, the price of MGMX would sky rocket in price......

The mine`s value alone could send this thing into big bucks.

Just reading a very long article, a $14 dollar gold mine went to $34 dollar, on the long term value of the mine alone..

Checked by a geologist...




chevy56

Just my thoughts...

AboveBlack,

Thanks, but no.

chevy56

sledhead,

Thanks for the post...

chevy56

More info on how Gold can be inspected

chevy56
>Subject: xxx xxx Inspectorate Services
>Date: Thu, 10 May 2007 17:44:51 -0500
>Dear Mr.xxxx
>
>
>
>Thanks very much for this opportunity to be of service.
>
>
>
>Our experienced inspectors attend on behalf of precious metals clients
>worldwide, providing professional witness for 100% of weighing,
>processing and sampling procedures. We act as your "eyes and ears" on
>site to protect your interests and ensure that all processing and
>sampling takes place precisely as intended. We are local to all
primary
>and most secondary refiners in North America, eliminating travel and
>living subsistence charges in most locations. The only charge beyond
the
>standard daily rates would be for the dispatch of the resulting
samples
>via FedEx, which is billed to you at cost.
>
>
>
>Our Nevada lab then provides you with analytical results for
comparison
>with your reclaimer or end-point receiver, and our technical
management
>even offers exchange and settlement functions for a very small fee per
>element, per sample, if you so desire.
>
>
>
>Please find enclosed our 2007 Representation Rate Structure and
>Analytical Fees List for your records. We are happy to grant discounts
>on these published rates in return for volume of work or yearly
service
>contracts.
>
>
>
>Our Precious Metals Operations Manager, Mr. Joe Suarez, would
coordinate
>all aspects of the work with our local management, the receivers, and
>then on to our lab. When submitting any nominations, please send all
>shipment data and additional communication to Mr. Suarez, including
lot
>ID numbers, packing lists, weights gross, tare and net, container seal
>numbers, and analytical instructions, contact info for persons to
>receive the reports and invoices, etc.:
>
>
>
>Inspectorate America Corp.
>
>12000 Aerospace Ave., Suite 200
>
>Houston, TX 77034
>
>Phone: (
>
>eFax: (
>
>Email:
>
>
>
>Thanks again for your consideration and we look forward to being of
>service. Please contact me direct for any additional information.
>
>
>
>Best regards,
>
>
>
>xxxx xxxx
>
>General Manager
>
>Precious Metals
>
>Email: xxxx.xxxx.xxxxxxx
>
>Phone: (xxx) xxx-xxxx
>
>Cell: (
>
>EFax: (
>

limoman,

From what I can tell, MGMX is waiting on a physical inspection of there mines.

I`ve attempted to put MGMX in touch with a Geologist company (Inspectorate), this company inspected gold for Gemini in Columbia., not there mines, there gold. It seems MGMX is bent on having a physical inspection.

Reading about problems in Columbia a physical inspection may not happen.....

Also a PR company is needed......MGMX does not have one..

Unless there was a settlement of the old PR company...



chevy56

Anyway just my thoughts.

MGMX can do it, other JR. Gold Mine stocks have made it over a dollar in Columbia. Do not know what steps other companies have taken, MGMX can do the same...GO MGMX...

chevy56

Information from a Geologist company called Expectorate. Thought every one might be interested. This company confirmed gold for another company in Columbia.

chevy56


Subject: RE: MGMX (Gold Confirmation)
Date: Fri, 18 May 2007 15:05:24 -0500
From: inspectorate.com> View Contact Details Add Mobile Alert
To: "xxxx xxxx
Hi xxxx,



Yes, that would be a problem. We do not normally inspect mine sites. Our standard service is to meet the dore bullion as it is delivered to a receiver, i.e. Johnson Matthey SLC Utah, and watch the weighing, melting and sampling of the product. We have no precedent for inspecting mine sites.



Let me know if we can be of service at the final receiver, and thanks for your consideration.



Best regards,



xxxx xxxx

General Manager

Precious Metals

Email: xxxx xxxx xxxx xxxx



--------------------------------------------------------------------------------

From: xxx xxxx
Sent: Friday, May 18, 2007 11:41 AM
To: xxxx,xxxx
Subject: MGMX (Gold Confirmation)



Hello Mr. xxxx,



Thank you for the information.



Question, would it be a problem inspecting gold mines in Columbia .



Thank You

xxxx xxxx

Small Investor

eltonfan59,

It confirms my thought, a physical inspectation of mines may be rare...

Other ways of doing business could be a necessity to survive..


chevy56

It is better to be lucky than smart.

These companies have done reverse splits, CMBV 5000 to 1, now out of business.

GWGO 2000 to 1, started another company...

Had another oil services business did a 2000 to 1, out of business...


If you find out ahead of time, take your money and run, until you find out the facts....

So far the CEO has said NO to a R/S....

chevy56

Reverse splits are for companies that are going out of business or into another business...having financial problems.

Serves no purpose for investors....

Companies response to that question was, why? and no...


chevy56

I get TONS of spam every week also...


chevy56

HAK41,

Also I think MGMX went with a top of the line PR company, to expensive..

Many other more reasonable priced PR companies for small start ups....

Top dog PR companies may be over blown...


chevy56

Dryden,


Maybe this is the Big Kahuna for Gold $700...


chevy56

HAK41,

Maybe that lawsuit is being taken care of, hope it has been settled...AboveBlack seems to think some type of resolution may be going on, although I favor financial settlement, in the form of future MGMX stock payments..just a hope.

I think you can see where I`m leading with that, if they are taking the bull by the horns so to speak, we may be going forward...

Could be a signal of which way the company is headed.

chevy56

Is there a settlement of the Lawsuit, it`s no longer posted..

chevy56

Dryden,

Next leg up on gold should be interesting.


chevy56