while we wait.... For comparison purposes to MGD, I seen this on Stockwatch this morning. I do not know about their other projects, but AVR just opened a mine in South Africa. Currently at $1.48 with 448mil o/s. Makes you wonder where MGD will be once news starts to flow....
AVION GOLD CORPORATION: UNDERGROUND ORE PRODUCTION STARTS AT TABAKOTO MINE, MALI
Production operations have started at Avion Gold Corp.'s newly developed underground mine at the Tabakoto gold deposit in Mali, West Africa.
Underground Mine Production Commences
The first stope blast from the Tabakoto Northwest 1 orebody was fired on February 9, 2012, and ore is currently being extracted from the stope. The entire stope is estimated to contain 10,600 tonnes of ore at an average diluted grade of 4.11 g/t Au.
The Tabakoto underground mine is scheduled to produce approximately 470,000 tonnes of ore in 2012, at an average grade of 4.34 g/t Au, for approximately 60,000 ounces of gold recovered by the process plant. This represents 41% of estimated gold production for 2012. The other 59% of the gold production will come from open pit mining