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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG -- Ignore unavailable to you. Want to Upgrade?

To: Wade who wrote (4943)	5/4/2006 11:14:01 PM
From: loantech	Read Replies (1) \| Respond to of 48092

Yeah check out my MMGG and GGC lately. I am cheering. Of course BB is not. LOL. Buy the homies buy the homies. LOL.

To: Wade who wrote (4943)	5/5/2006 9:15:58 AM
From: TheSlowLane	Read Replies (1) \| Respond to of 48092

Wade, Here is one of the reasons Maxy has been on a tear of late, news out this morning... Maxy Gold Corp.: Agreement Reached to Sell Niukong Project to a Chinese Mining Group for RMB 51 Million 'CDN $7.3 Million' VANCOUVER, BRITISH COLUMBIA, May 5, 2006 (CCNMatthews via COMTEX News Network) -- Maxy Gold Corp. ("Maxy") (TSX VENTURE:MXD) is pleased to announce that an Agreement has been entered into with Federal International Mining Group Co. Ltd. (Federal), a Hong Kong based private mining group, to sell the Niukong Gold Project for RMB 51 Million (CDN$7.3 Million). RMB 2 Million has been paid as a deposit, with 20% of the full price due upon signature of the Formal Agreement and the 80% balance due upon final approval and final transfer of the Niukong Exploration Permit into Yunnan Si Mai Mining Co. Ltd. (Si Mai), the Chinese cooperative joint venture company which holds the Niukong and other projects in the Luchun Joint Venture. The sale is subject to approval of regulatory authorities and completing the transfer of the Niukong mining permits to Si Mai within 180 days of the signing of the Formal agreement, as extended by agreement of the parties. The transaction is structured so that Federal will acquire Si Mai, which will divest itself of all other project areas in the Luchun Joint Venture, including the Niubo-Dichu and Niujaozhai properties, so that Si Mai will hold only the Niukong Project. Si Mai is held, and the proceeds of the sale will be split, 85% by Maxy and 15% by our partner, Yunnan Yuxi Maite Industry Ltd. (Maite). The Luchun projects that are spun out of Si Mai will continue to be held in a separate entity held 85% by Maxy and 15% by Maite. The transaction is expected to close within the next 30 days. Technical and legal due diligence has already been completed. Andre Gauthier, President and CEO of Maxy, commented on the sale as follows: "We are pleased to sell the Niukong property as it gives us a comfortable cash position to pursue our objectives in China and to increase shareholders value without further share dilution. We are proud to be one of the first foreign groups to sell a property interest to a Chinese controlled group, and it goes along with our goal to establish Maxy as a credible exploration and development company in the Chinese Mining industry." Maxy will continue its exploration efforts on the LUCHUN and MIDU joint ventures as well as to look for new gold and base metals opportunities in China. The Luchun Regional Gold Joint Venture is located in southern Yunnan, and is comprised of the Niukong Gold Project, Niubo-Dichu project, Niujaozhai copper project and 15 other separate project areas. Maxy has earned its 85% interest in Yunnan Si Mai Mining Co. Ltd, the cooperative joint venture company holding the Luchun Gold Project and is reaching the 90% level as specified in the joint venture agreement. We are currently drilling the Niubo-Dichu and Niujoazhai properties of the LUCHUN joint venture and completing a trenching program on the Muluozuo discovery of the MIDU joint venture (see January 23rd 2006 news release). Results will be released once all quality control parameters are met. China is the world's fourth largest gold producing country and is host to a number of world-class base and precious metal deposits with great geological potential and Maxy aims to participate in an exciting exploration and development period in China. SOURCE: Maxy Gold Corp.