Local and National Dignitaries Attend Ribbon Cutting Ceremony Launching MGM Mineral Resources Latest Mine Into Full Operation
TORONTO, Oct 03, 2006 (MARKET WIRE via COMTEX) -- Metro Gold Mines Mineral Resources Inc. (PINKSHEETS: MGMX) is a growing gold mining company engaged in the acquisition and development of production properties in South and Central America.
"MGM Mineral Resources has been diligently involved with the newest acquisition of Las Malvinas Mine," said Jairo Giraldo, CEO of MGM Mineral Resources. "As such, we have designated our resources and technical teams to the site of Las Malvinas Mine. This has caused a lot of regional and national focus toward the mine and the Company's operations. We were able to recently launch Las Malvinas Mine officially, with local and national dignitaries present at our ribbon cutting ceremony."
The Company has already commenced all technical work on the mine and has entered the production stage. MGM Mineral Resources confirms all previous reports and goals that the Company is about to become a high gold yielding operation. The Company will be seeing revenues generated from this mine's production within 90 to 120 days.
"On behalf of MGM Mineral Resources, we would like to thank the Mayor, local army and government officials for helping us navigate through the bureaucratic process of this acquisition," said Ken Lamb, President of MGM Mineral Resources. "It is good to know that the local, provincial and national communities and government stand behind our efforts and support our corporate goals. The Company has been working hard in positioning themselves in becoming major players in the Colombian gold communities, and the addition of Las Malvinas Mine will bring us closer to realizing this goal."
About MGM Mineral Resources (PINKSHEETS: MGMX)
Metro Gold Mines Mineral Resources Inc. is a growing, expertly managed gold mining company focused on acquiring and producing an impressive portfolio of exploration and production properties in South and Central America. MGM Mineral Resources is working to establish itself as a world-class gold company, capitalizing on smart acquisitions, breakthrough technology, modernized operations, deep industry expertise and a strong gold market to cost-effectively produce high quality gold. The company has identified a significant opportunity to exploit proven but underdeveloped mineral resources in Colombia. MGM Mineral Resources was initially targeting the richest gold zone in Colombia, Segovia, but is now extending to other areas throughout the country. For more information please visit www.mgmmining.com |
