Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : Tokyo Joe's Cafe / Anything goes -- Ignore unavailable to you. Want to Upgrade?

To: see clearly now who wrote (34322)	9/26/1999 8:40:00 AM
From: Char	Respond to of 34592

Arnold A lot has happened since last January. Although things didn't move as fast as we had hoped, regular production is real close. I saw that you asked about insider buying over on the MGAU thread. I think insiders hold such large positions now that it's doubtful they would be buying more. Here is part of the most recent presidents message. >MG Precious Metals Production is occurring in several phases. At first we thought our technology was a simple two-step procedure. Number One - assay samples from MG ore; Number Two - process the ore to produce precious metals. At first, we used the MG assay technology to ascertain the values of gold in ore that came from properties owned or controlled by MG Natural Resources Corporation. We spent a considerable amount of time and money following that plan and were very satisfied with the results. The next step in utilizing the assay technology was to find relatively inexpensive, high- grade precious metals ore to purchase from an already operating mine. The purpose was to eliminate overhead expenses; employee problems; environmental concerns; bureaucratic regulations and scheduling. (Somewhat like the man on the corner collecting aluminum cans.) We now have the results from testing several cinder cones in Northern Arizona and are satisfied that opportunities abound for putting this plan into effect. Over the past five months, we have processed approximately 200 tons of ore resulting in concentrates waiting for shipment to a refinery. We are satisfied that the assay technology has helped us to focus on a successful production procedure from high-grade ore. We now have concentrates at two refineries which have verbally committed to accept our concentrates. Once MG has agreed on the price and terms with the refineries, we will begin shipping concentrates on a regular basis. Calculations are incomplete for the bottom line determination of the economic viability for shipping a low- grade ore concentrate as opposed to a very high-grade product. The target for the company is to bring as many dollars as possible to the bottom line. In addition, this past month, Dr. Johnson has been working on developing protocol for us to act as our own primary refiner. Fifty years ago, Outokumpu, the Finnish mining, smelting and technology company invented flash smelting. Back in 1949, they did not even have a research and development laboratory of their own. They tried in vain for a few years to sell the idea to mining companies and until Furukawa Corporation contacted them in 1952, it looked hopeless. Furukawa operated a copper mine in Ashio, Japan, however, they had environmental and equipment problems they believed a joint venture might solve. For the next four years, Outokumpu managers and engineers had to "explain; refine; develop and customize the flash smelting process to satisfy the needs of others". Even after the Ashio smelter opened in 1956, Outokumpu managers had to oversee the new facility for several months. The time from the evolution of dreams into reality was seven years for Outokumpu. They now have 44 plants around the world operating under the Outokumpu Flash Smelting License. Shortly after we had the production process confirmed, we were told by a seasoned mining professional that it could take two or three years before we would be able to sell our concentrates to a refiner. Although it has taken us a lot longer than anticipated, the waiting will soon be over and real production will become a reality. We can assure the shareholders, that written contracts will follow on the heels of verbal commitments from refineries. In looking forward, the company has contracted with a Securities Attorney to prepare a registration statement for a rights offering to be filed with the U.S. Securities and Exchange Commission so that MG may become a fully reporting company. As always, MG Management and Directors are committed to enhancing shareholder value. Mike Amundson President and CEO MG Natural Resources Corporation< mg-resources.com