MGM Mineral Resources Announces Corporate Update
By Market Wire
Last Update: 8/2/2006 9:30:26 AM Data provided by
TORONTO, Aug 02, 2006 (MARKET WIRE via COMTEX) -- Metro Gold Mines Mineral Resources Inc. (PINKSHEETS: MGMX), a growing gold mining company engaged in the acquisition and development of production properties in South and Central America, is pleased to announce various new developments pertaining to its operations.
"We are pleased to announce the fact that Pink Sheets has resumed our quotation services," said Kenneth Lamb, President of MGM Mineral Resources. "It was a very difficult time for our Company and shareholders, but we were able to prevail over an issue that seemed to linger over many weeks. Again, we initially neglected some of our administration duties and these were symptoms of a Company that was rapidly expanding. All is back in order and forging ahead."
The Company's infrastructure is rapidly expanding, as in the completion of various roads, facilities and the steady increase in production. As such, an additional geologist has been added to the MGM team and there have been recent discussions with a North American independent geologist to travel to La Esperanza and Manantiales mines in order to confirm all recent findings.
The entire Board of Directors will be holding a meeting in Medellin, Colombia on August 7, 2006, in order to discuss and implement upcoming strategies which will ensure production value versus costs. The meeting will also enable MGM Mineral Resources to dictate all plans for management, production, extraction, and exportation for the remainder of 2006 and beyond.
"There are several other meetings that are being planned and linked to our agenda while visiting Medellin, Colombia," added Ken Lamb, President. "We will share the outcome of the various upcoming ideas and projects once the trip is complete. We continue growing rapidly, while establishing operations not only at a national level, but internationally as well."
"I WANT MY TWO DOLLARS!!"
[chart][/chart]
