MX Gold (MX, $0.16 +23.1% Vol: 1,553,300)
Shares Outstanding: 162,286,827
MX Gold is a near term producer with three advanced projects, two equipped with permitted mining and milling facilities. The Max Mine (molybdenum) in Revelstoke, B.C. comes equipped with crushing, milling, concentrating and tailings storage facilities. The Max Mine is a turn key operation, with over $80 million invested into it to date.
MX plans to process minerals from it’s Willa gold/copper/silver project 135km away in Silverton. Willa has $18 million in historic exploration data and features the following resource: Measured reserves of 1.4 million tonnes of 3.97 g/t Au, 0.67% Cu, 8.97 g/t Ag and Indicated reserves of 1.2 million tonnes of 2.96 g/t Au, 0.49% Cu, 7.46 g/t Ag. Mineralization Open in 3 directions – several other highly-prospective areas are undeveloped.
The company’s latest acquisition (Oct 2016) is 50-per-cent interest in the Magistral Del Oro tailings project, located in Santa Maria Del Oro, Durango, 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. Additionally, the Magistral project includes the exclusive rights to process the mineralized mill tailings.
Management has raised over $8 million this year while advancing all three projects toward production.