Replies to post #219912 on Zeev's Turnips Patch-No Politics (ZEEV)

[dietmar w]

From Jason Hommel


* MMGG.OB (METALLINE MINE) (I own shares)
http://www.metalin.com/site_map.html
[e-mail] Merlin Bingham 208-665-2002
14 mil shares fully diluted (Oct 23, 2003)
insiders buying on 9-10-2003 at about $1.30/share
insiders buying on 12-01-2003 at $1.66/share
@ $2.97/share US
$42 mil MC

Additional Comments: Zinc & Silver in Mexico: Sierra Mojada. Sierra Mojada is a Silver District!
Silver: Historic production was 10 mil tons of high grade ore... historic silver production went right "direct shiped" to the smelter, non-milled. It contained 500-1000 grams silver/ton, or 17.65 to 35 oz. ton. This means 170-353 million ounces of historic "high grading," non-milled, production.
(Who knows how much silver is left?) That's the question with an explorer.

Zinc: Very high grades: 11.8% zinc. Potentially the lowest production cost in the entire zinc industry due to new "oxide deposit" chemical extraction process as revolutionary as "heap leaching". Exploring for up to 4 Billion pounds zinc.

Project ownership: MMGG terminated the buy-in agreement with Penoles, who went into default, so MMGG now owns 100% of the project! See http://biz.yahoo.com/bw/031203/35526_1.html

I believe this is very good for MMGG, since the Penoles agreement made it more difficult to quantify the value the company. Now, it is easier to value the company, and the existing shareholders will own more of the project and profits. It is important to note that MMGG took the initiative to terminate the agreement. Penoles did not issue a statement indicating any intent to walk away. Penoles' delay or indecision caused them to lose the rights to their buy-in option agreement. Just like if you have an "in the money" option, it's a mistake to let it expire.

For more, see the research works article here:
http://www.stocksontheweb.com/mmgg.htm

(Merlin of MMGG.OB, and Harlan of EXR.V (friends, actually) both have reports that will educate you on the bullish story for Zinc.)

I own shares of MMGG.OB


Dietmar

[basserdan]

Basserdan, do you know anything about MMGG? Silver / Zinc mine down in Mexico in the process of defining their reserve which looks pretty darn big - potentially the 2nd or 3rd biggest Zinc reserve in the world
===============================================================

Hi punkle,
I looked at them briefly while checking out some base metal plays and, unfortunately, there wasn't enough info 'out there' to hold my interest.

Their 3-10-04 filing:
http://biz.yahoo.com/e/040310/mmgg.ob10qsb.html