i made a stupid error here, i rode (mds) down in the recent decline in resource stocks.
like they say "don't fall in love"..
anyway now thats behind us...
the good news is gold is edging it's way back up again.
whilst we can't call it a certainty, things are looking much better with the price of gold..
so where do we stand with midas resources.
imo i think it's way over sold now..
we should have some resource figures in the near future, some have said it could be around the million oz.
they have nearby infrastructure (treatment plant), so they could start a low cost mining project fairly quickly.
whilst building there own treatment plant.
the above is till some time off yet, but at least we can see how things might turn out.
so at present the current share price 13.5cents, if the price of gold continues up & we get an announcement about resources. then i'd add approx 10-14cents onto the current price
management are first class..
Don Boyer..perhaps one of the best guys in the game..
LAKE CAREY: The Lake Carey SuperProject comprises the Lake Carey Project (100%),
the Linden Project (80%) and the Phantom Well Project (100%).
The Lake Carey Project: Prospective for gold and located near Laverton in WA.
Resources as at June 2003 were estimated at 6.6Mt @ 2.2g/t Au. MDS' strategy for
this project will focus on exploration, increasing the resource base and
advancing feasibility studies with a view to commencing mining. In April 2003,
drilling returned 5m @ 14.9g/t Au and 15m @ 4.83g/t Au at Fortitude. RC drilling
in December 2003 intersected 14m @ 8.17g/t Au and 5m @ 13.35g/t Au.
The Phantom Well Project: Located 5km south of Fortitude and comprising the
Stealth and Mirage prospects. Drilling in 2003 returned 3m @ 18.7g/t Au and 10m
@ 2.8g/t Au at Stealth.