MX Gold Corp. – Expected Production - Junior Gold Report

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MX Gold Corp. – Expected Production

Techwor8

September 6, 2017

Resource investors have been watching the recent movements in the gold market with a mixture of trepidation and excitement as the precious metal continues to rise in value on a wave of political uncertainty and natural disasters where discussions of asset-buying problems and increasing interest rates indicated a reduction in their previously optimistic expectations.⁶This meeting of fiscal minds contributed to the growing strength of the gold market, which has recently hit US$1335/oz.

This is an opportune time for junior mining companies to take advantage of the strong position gold prices have displayed over recent weeks. MX Gold Corp (TSX-V:MXL) (FSE:ODV) (OTCQX:MXLGF), is one of those companies that is moving into position to take greater advantage of this situation especially given recent news related to their Magistral Del Oro plant in Mexico that has until recently been in its own winter. Spring comes in some form to every business venture.

For MX Gold, good news appeared to have arrived in October of 2010 when their Magistral Del Oro plant reached completion and went into operation. Operating a Dynamic Cyanide Counter Current System, the plant was built with the intent of processing 500 tons per day, though the system was capable of working at higher rates. All seemed to be going well for the fledgling plant as it worked diligently through the end of the year and into the next.² Then disaster struck in July of 2014 in the form of torrential rains that served to flood their excess pond. Flooding caused by the rains led to the pregnant waters from the excess pond flowing into a nearby creek. Thankfully the 4 PPM solution didn’t cause any harm to anyone, neither human nor animal.²

Under their canny leadership, this only served as a setback to their operations rather than disaster. Work at the plant was suspended to correct the circumstances that led to the overflow; while nothing could be done to prevent the rains themselves, the system could be retrofit to avoid a recurrence. Work at the plant ceased in 2014 for these updates, but finally the long winter has passed and the plant is ready to spring back into operation in the 4^th Quarter of 2017, excellent timing considering the recent movements in the gold market.²

Things are getting back on track with the awakening factory, especially given that Bert McPherson is at the wheel. His experience as MGX’s President and COO is impressive in and of itself, bringing 37 years of managing projects like these for major mining companies. His most recent experience managing a mine was the Penasquito mine in Mexico, the second largest mine and producer of gold in the country. If the success of that mine is any indicator, Magistral Del Oro has the elements in place to make a play in the current market.³

Movement in MX Gold’s stock price has been rising steadily in the past couple of weeks, and the rise could be just beginning. With the rebirth of Magistral Del Oro happening right in the middle of rising gold price, the company is in position to make gains. That’s good news for MX Gold and their investors alike.

Something that creates a significant sense of confidence is when a CEO invests heavily into his own company. Dan Omeniuk obviously believes firmly in this company and the potential it contains to be a future powerhouse. As Bob Moriarty of 321 Gold in a January 2017 article says, “CEO Dan Omeniuk owns or controls 26 million shares. I don’t even care what his salary is. If he does well, so do the shareholders. He has major skin in the game.”⁵ We can’t help but agree, it’s one thing to be playing with shareholders money, but when you have that much of an investment in the game, you know he’s investing with confidence, and that’s good news for investors.

Keep an eye on the investment market as MX Gold is under firm leadership and in possession of a literal gold mine of an opportunity. The experience and knowledge of Omeniuk and McPherson are likely to serve the Magistral plant and their investors well. Given the circumstances surrounding the gold market and the steady increase in the value of this precious metal, many companies including MX Gold are looking to capitalize.

Happy Investing!

Dr. Kal Kotecha

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MX Gold Corp. – Expected Production

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