Im not sure why you would think this would affect MGMX .. Tao is in a completely different region of Colombia .. MGMX is investing in the richest part of Colombia .. Segovia!!!
Colombia is FULL of mines which have been mostly unexploited .. read below ..
"The company (MGMX) has identified a significant opportunity to exploit proven but under-developed mineral resources in Colombia and is in the later stages of negotiations with several high grade gold and silver properties."
The snip above was taking from the following Market Wire PR;
Internal Geologic Report Confirms MGM Mineral Resources' La Esperanza Mine Contains More Than 800,000 Ounces of Gold
By Market Wire
Last Update: 6/26/2006 9:22:48 AM
The statement says several things which are very important; First exploiting "proven" and "under-developed" mineral resources. My impression is MGMX is becoming one of the major companies investing in Segovia, and I would imagine many of the mine owners would like to jump on board, hence the statement that they are in the later stages of negotiations with several high grade properties. MGMX has been very forthcoming with their objectives and progress.
One last thing to note; Notice the statement "high grade gold and silver". This is also very important .. I have had conversations with Geologists here in Colombia and they all have commented on how the grade of gold here in Colombia is very very high .. compared to say a mine in Peru ..
We are pioneering something big here! .. I think their meetings in Colombia this past week are something big to get this baby back on track .. its unfortunate the problems they ran into trying to get their feet off the ground however they have made some major steps and I think we will be seeing something big next week.
GLTA!
"I WANT MY TWO DOLLARS!!"
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