Here's a company I find exciting ... I like companies that break new ground as it's only possible to get extraordinary returns through extraordinary business and technology models.
MGAU has a 10:1 return since September ... and it's just starting!
The Company is: 1) Gearing up production facility ( generating cash flow)
which began recently and not exploration ( expending cash capital). I have no
interest in exploration. 2) Potential change of an industry as below noted.
This is why I am so interested in this Company.
The Company stated ,
"With the advent of MG Technology for precious metals extraction, all current
methods will become obsolete."
Following summary was copied from:
ragingbull.com
(where MGAU stock is discussed)
*MGAU PROCESSING TECHNOLOGICAL BREAKTHROUGH
TO CHANGE INDUSTRY*
MG Natural Resources (OTCBB symbol: MGAU) Phoenix, Arizona
See Company Website: mg-resources.com
Why would the former CFO of McGraw-Edison Co, a Fortune 500 company, join the
board of directors of this tiny company last month (see below) ????
Why would the following person join the Board of a small bulletin board
public company on April 5, 1999?
James C. Lanshe, who joined the Board April 5, 1999, has been admitted
to practice law in Arizona, Kentucky, New York, Pennsylvania, the
District of Columbia and before the Supreme Court of the United States.
Lanshe has degrees from Georgetown (B.A.), Harvard (M.P.A.)
and is a graduate of Cornell University School of Law.
He has taught securities law as an adjunct faculty at the Law School at
the University of Louisville. Lanshe has been involved in various
investment banking activities, served on boards of various public
companies and currently serves as a consultant to a private Wall Street
investment banking firm with offices in New York, Bermuda and London.
-------------------------------
I am just a shareholder and nothing more or less. The following
describes what is going on. Please see website for more details. Call
the company in doing your own due diligence. The company does
NOT have a PR firm or anyone else to tell their story!!
Just as process technological breakthroughs such as heap leaching,
autoclaving and oxygenated roasting have had a tremendous impact on
the mining industry turning gold mineralized material that would have
otherwise been left as vast amounts of waste rock into huge amounts of
valuable gold reserves MGAU believes it has made yet another major
technological breakthrough in treating and processing refractory ores.
Refractory refers to gold ores that are not amenable to efficient gold
recovery via cyanidation or gravity concentration without additional
processing. In addition to this, MG has a marble quarry operation
providing positive cash flow. See 13 Press releases since December and
6 President's Letters. The President's letters explain the company's
progress.
April 12, 1999 President's Letter
"With the advent of MG Technology for precious metals extraction, all
current methods will become obsolete……. MG has been enabled by
purchasing extraction technology from Johnson & Lett, to make our
precious metals mining operations highly economical. We would like to
compare our Dollar Value per ton of ore to some of the largest mines
in the world. We are a micro cap company with ore worth hundreds of
dollars per ton. They are maxi cap companies with ore worth pennies
per ton. We process ore in days. They process ore in years. We have
small capital costs. They have enormous capital costs. Just a few
short months from now, we believe it will appear as though we bought
Johnson & Lett Technology for less than 2.5 cents per ounce. Production
has moved up from one ton per day the week of April 5th through 9th,
to 5 tons per day the week of April 12th through 16th. Upon
development of systematic and periodic processing, concentrating and
refining, we anticipate refinery checks on a weekly basis."
March 16, 1999 President's Letter
"We have had engineers estimate the weight of the mountain and we are
comfortable with a figure of about 196,000,000 tons. We are confident
that we are able to recover over an ounce of gold per ton of ore.
Based on current projections, we anticipate a positive cash flow from
the Sinagua Pilot Plant within the next few months."
February 22, 1999 President's Letter
"The extraction of gold from the refractory ore with which we have been
blessed is no longer a hypothetical formula. It has become a working
model that is being scaled up to commercial production size. Company
management and the board of directors have concluded that MG has spent
adequate time and funds in conforming with industry standards regarding
drilling and performing third party verification by analytical
laboratories. Further expenditures at this time would be in conflict
with the Corporate mission statement. The proven technology of Johnson,
Lett & Company (discussed in the February 16, 1999 press release) has
placed MG in the difficult position of being unable to disclose full
details and results of the "due diligence" with J/L technology without
compromising security and confidentiality."
February 8, 1999 President's Letter
"With a significant breakthrough in recovery of gold from refractory
ore, the possibilities of mining much less ore at much higher grades
would produce economic viability with multiple profit margins. The seed
of an idea that germinates from research and development needs
encouragement and cultivation to go from a seed to a seedling and into
a harvest. MG is encouraging and cultivating Johnson & Lett now to be
able to reap a harvest in profits later. Our due diligence, assay and
recovery work utilizing Johnson & Lett assay technology is part of our
vision and goal to be able to identify the most probable mining target.
The reason for our insistence on actual recovery of gold from
refractory ore is in keeping with the vision and goals of MG. Assays
are expenses not profits. Profits are only possible in recovery of
precious metals from the actual mining of properties that we own, have
claimed or lease. The MG press releases are material fact based on
reliable, repeatable, reconcilable assay work done by reputable
assay/analytical laboratories."..
Press Release of April 5, 1999-- Completed the test run with one ton of
ore from its Sinagua Cinder Cone Property. Utilizing the recently
acquired Johnson-Lett technology, MG has recovered 1.73 ounces of gold
from this bulk sample. Company intends to post copy of the check from
the refinery on their website.
Press Release of April 21, 1999 MG Receives First Refinery Check for
Recovered Gold. The Board of Directors of MG has received a letter from
Dr. A.C. Johnson, the developer of the technology purchased by the
company, stating, "At long last after almost 20 years...we can both
successfully explore for, and produce precious element-bearing
refractory (precursor) ores." Because of the location of the Sinagua
Pilot Plant, Dr. Johnson proposes that we pursue in addition to
Sinagua's cinder ore, other ores from the area. He recommends, "At the
same time that we are producing ores from Sinagua and perhaps
Sticklizard properties, we might also evaluate and produce other,
significantly higher-grade ores." Dr. Johnson's letter can be read in
its entirety on the MG website.
A visionary approach in any industry usually encounters such enormous
skepticism that faith, commitment and patience are required to stay the
course. This "vision" has resulted in a metamorphosis of our company.
We have successfully transformed ourselves into a profitable natural
resource provider with the potential to redefine the parameters of
precious metals extraction.
Board Members
James Rapisarda joined the Board of Directors on May 19, 1998. He has
been in the securities industry since 1988 and currently manages over
$50 million in assets for clients across the United States. Mr.
Rapisarda is also President of Oracle Advisory Services. Oracle
develops marketing and financial strategies for corporations and
individuals in the investment industry. Since 1991, he has been a
member of the NASD board of Arbitrators. Mr. Rapisarda is an
accomplished author and has appeared in a CNN special program entitled
" Retiring Richer".
Austin S. Lett, who joined the Board April 5, 1999, holds a B.S. degree
from the U.S. Naval Academy and a Masters Degree in Business
Administration from the University of Michigan. Lett is a partner in
Bollinger, Wells, Lett and Co., a mergers and acquisitions consulting
business based in New York City. Lett is founder and managing director
of Summit-Manhattan Co., a New Jersey based private venture capital
firm.
He has served as treasurer and chief financial officer of McGraw-Edison
Co., a Fortune 500 New York Stock Exchange listed manufacturer of
electrical equipment. For the past 16 years, Lett has been a major
investor with several companies involved in the research and
development of the technology required when working with refractory
ores. Lett has served since 1997 as a director of Johnson-Lett & Co.,
L.L.C., a private gold technology company.
The Annual General Meeting for the company's shareholders and
investors will be held , Friday, May 7, 1999, at the Embassy Suites
Hotel, 4400 S. Rural Road in Tempe, Az at 2:00 p.m.
MG Natural Resources Corp. at 1334 E. Chandler Blvd., No. 5, B-72,
Phoenix, AZ 85048
Mike Amundson, president and chief executive officer, at 602/460-7842
or Fax at 602/460-6324.
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
VANCOUVER DUE DILIGENCE.........
ragingbull.com
By: JonF
Reply To: None Saturday, 24 Apr 1999 at 3:12 PM EDT
Post # of 228
This board is going to like this. They haven't gotten the written reports
back yet but the preliminary calls came back clean. Two of them have started
taking a position. These guys are not pansies either. Good news for all of
us.
ragingbull.com
By: JonF
Reply To: None Thursday, 15 Apr 1999 at 8:49 PM EDT
Post # of 266
Talk about this little company is starting to get around. I go out sloshing
with the mining crowd in Vancouver and several people have starrted
discussing it. One of them has hired an investigator to have a look at Dr.
Johnson and the CEO. They are hoping that the look comes back clean. These
gents have the buy power to push this stock into the clouds. Let us hope they
hear good news. |
