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Press Release Source: IOCircuit
(OTC: MGMX) MGM Mineral Resources Gets Price Target of $0.24
Wednesday May 3, 7:00 am ET
NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the IOCircuit.
LAKE HARMONY, PA--(MARKET WIRE)--May 3, 2006 -- The IO Circuit recommends Metro Gold Mines Mineral Resources Inc. (Other OTC:MGMX.PK - News), which received a price target of $0.24 from Market Advisors. Metro Gold is a growing gold mining company engaged in the acquisition and development of production properties in South and Central America, announced that it has completed the acquisition of La Esperanza gold mine. La Esperanza is located in Segovia, the richest, most gold-bearing municipality in Colombia.
There are proven multi-million ounce deposits of rich gold under Colombian soil. Colombia is the highest-yielding nation in South America, having produced more than 125 million ounces of gold. But it is also the most under-explored and under-developed. With the notable exception of neighboring Frontino Gold Mines LTD -- which has produced over 5 million ounces of gold in the Segovia area -- the majority of local miners have not had the resources or technology to sustain maximum production.
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