MX Gold Corp. (TSX VENTURE:MXL) (FRANKFURT:ODV)(OTCQX:MXLGF) is VERY aggressive in its pursuit of production. At the helm is one of the top mining names in Bert McPherson.
Mr. McPherson has most recently been the mine manager of Goldcorp’s Penasquito mine in Mexico, having over 1400 employees directly reporting to his office. The Penasquito mine is Mexico’s second-largest mine and is its largest gold producer. He also held high positions with Teck and Barrick.
What this translates to is the basic fact that Mr. McPherson is very connected and can bring great properties to the MX Gold arsenal.
Gold is on an upswing and with 4 potentially producing properties (we expect at least one this year), so is MX Gold. We speculate the the company is not finished in the acquisition department.
One thing that investors need to be cautious about is the extreme volatility of the stock. It is one of the more extreme cases in the junior mining sector rising from $.12 to above $.35 then back down and now above $.20. I believe this has a lot to do with the volatility in the price of gold, the recent acquisition (which propelled the stock price) and traders.
The company’s Max Mill itself is valued at about $100,000,000. MX Gold’s market cap is under $40,000,000. Is the stock undervalued?
We believe that MX Gold’s future is very bright as is gold itself.
Dr. Kal Kotecha
2017-01-23 09:58 ET – News Release
Mr. Dan Omeniuk reports
MX GOLD CORP. COMPLETES ACQUISITION OF MAGISTRAL JOINT VENTURE
MX Gold Corp., further to its news release dated Dec. 7, 2016, has paid all remaining installments, and has earned a 50-per-cent participating ownership interest and 45-per-cent net profit participating interest in the Magistral, Del Oro, tailings project located in Mexico.
The project includes a fully permitted, 500-tonne-per-day dynamic cyanide countercurrent system plant constructed in 2013 at a cost of approximately $4.5-million, which appears to be in excellent condition. The plant is unencumbered, and it is estimated that the plant can be fully operational within four to six months. Additionally, the project includes the exclusive rights to process the mineralized mill tailings.
“After conducting weeks of due diligence on site in Durango, Mexico, I am confident and excited with the value the Magistral project is going to bring to MX Gold. The company and its shareholders can look forward to us reporting on our progress from Durango in the weeks to come,” said Bert McPherson, president.
About MX Gold
MX Gold is a junior mining company focused on the exploration, development and mining of advanced projects located in British Columbia and Mexico. The company owns the high-grade Willa gold and copper project located 12 kilometres south of Silverton, B.C. In 2015, MX Gold completed the accretive acquisition of the Willa project, and the Max molybdenum mine and mill complex.
Junior Gold Report’ Newsletter: Junior Gold Report’s Newsletter is published as a copyright publication of Junior Gold Report (JGR). No Guarantee as to Content: Although JGR attempts to research thoroughly and present information based on sources we believe to be reliable, there are no guarantees as to the accuracy or completeness of the information contained herein. Any statements expressed are subject to change without notice. JGR, its associates, authors, and affiliates are not responsible for errors or omissions. Consideration for Services: JGR, it’s editor, affiliates, associates, partners, family members, or contractors may have an interest or position in featured, written-up companies, as well as sponsored companies which compensate JGR. JGR, it’s owner and affiliates/associates may buy/sell and trade the company’s stock written up/video created on from time to time. JGR has been paid by the company written up. Thus, multiple conflicts of interests exist. Therefore, information provided herewithin should not be construed as a financial analysis but rather as an advertisement. The author’s views and opinions regarding the companies featured in reports are his own views and are based on information that he has researched independently and has received, which the author assumes to be reliable. No Offer to Sell Securities: JGR is not a registered investment advisor. JGR is intended for informational, educational and research purposes only. It is not to be considered as investment advice. Subscribers are encouraged to conduct their own research and due diligence, and consult with their own independent financial and tax advisors with respect to any investment opportunity. No statement or expression of any opinions contained in this report constitutes an offer to buy or sell the shares of the companies mentioned herein. Links: JGR may contain links to related websites for stock quotes, charts, etc. JGR is not responsible for the content of or the privacy practices of these sites. Release of Liability: By reading JGR, you agree to hold Junior Gold Report its associates, sponsors, affiliates, and partners harmless and to completely release them from any and all liabilities due to any and all losses, damages, or injuries (financial or otherwise) that may be incurred.
Forward Looking Statements
Except for statements of historical fact, certain information contained herein constitutes forward-looking statements. Forward looking statements are usually identified by our use of certain terminology, including “will”, “believes”, “may”, “expects”, “should”, “seeks”, “anticipates”, “has potential to”, or “intends’ or by discussions of strategy, forward looking numbers or intentions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results or achievements to be materially different from any future results or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts, and include but are not limited to, estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to the effectiveness of the Company’s business model; future operations, products and services; the impact of regulatory initiatives on the Company’s operations; the size of and opportunities related to the market for the Company’s products; general industry and macroeconomic growth rates; expectations related to possible joint and/or strategic ventures and statements regarding future performance. Junior Gold Report does not take responsibility for accuracy of forward looking statements and advises the reader to perform own due diligence on forward looking numbers or statements.