erog, the company never claimed such thing, where did you get that from?
MGM Mineral Resources Announces a Corporate and Shareholder Update
Gold Company Reviews Progress to Date, Share Price, Pink Sheets Listing and Unauthorized Spamming
TORONTO, May 10, 2006 (MARKET WIRE via COMTEX) -- Metro Gold Mines Mineral Resources Inc. (OTC: MGMX), a growing gold mining company engaged in the acquisition and development of production properties in South and Central America, wishes to provide shareholders with an update on the company's progress and address questions regarding share price, spam emails sent without company authorization, and the status of its listing on the Pink Sheets.
First, MGM Mineral Resources would like to confirm for shareholders that there has been no material change or event to cause the recent slide in its share price. The company is working diligently to accomplish the objectives outlined in its business plan. In fact, MGM Mineral Resources is reaching certain milestones ahead of schedule.
"There are many external factors that can contribute to such radical changes in the markets. We would like to let our shareholders know that there is absolutely no correlation between the recent share price volatility and the continued development of our business and marketing plans, nor the ongoing efforts of our company," said Ken Lamb, President of MGM Mineral Resources.
As announced, the company has acquired La Esperanza Mine, appointed a world renowned Lead Geologist, and is working to close acquisitions of other promising mining properties in Colombia. The company is finalizing the results of internal geological studies of La Esperanza and is extremely pleased with what it has seen so far. These accomplishments should prove to be beneficial for our shareholders and for the future growth of MGM Mineral Resources.
The company appreciates the recent comments from shareholders who have questioned the posting on the Quote section of the Pink Sheets website. MGM Mineral Resources has been in constant communication with Pink Sheets and the issue is in the process of being resolved in a matter of several business days. At times the most minor of issues can hold up certain parts of the process and the Company appreciates the patience that the shareholders have exercised.
Lastly, the company has endured unauthorized spamming. MGM Mineral Resources, which is currently in the initial stages of a successful venture, does not engage in sending unsolicited spam and regrets that investors may have been exposed to unfounded negative publicity. Bulk unsolicited emails were sent without the authorization or knowledge of the company. Such campaigns are common spam often sent out in massive bulk emails by outside parties attempting to inflate stock and make large personal gains.
"We would like to assure our shareholders that our team was not involved in the spamming of our company's information," commented Mr. Lamb. "MGM Mineral Resources takes pride in building a successful mining company with value and integrity."
In fact, the company encourages investors to review its Mission:
MGM Mineral Resources will develop ethical and efficient gold mining operations, maintaining a fair, secure and non-discriminative work environment. We expect to grow with our surrounding communities and achieve above-average financial returns by maintaining a meaningful share of this high-end market. Our employees are our principal asset. We will provide challenges and rewards to encourage our team to make meaningful contributions to the company and the community.
Mr. Lamb concludes, "MGM Mineral Resources is focused on building company value by achieving the objectives we have outlined, communicating our growth to the investment community, and operating with integrity. We appreciate this opportunity to update our shareholders on our progress."
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