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.
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