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Magna Gold Corp V.MGR.H

Magna Gold Corp. is a Canada-based gold and silver production company. It is engaged in acquiring, exploring, developing and operating precious metal properties in Mexico. It is advancing its 100% owned flagship San Francisco Mine, its Margarita Silver Project and other highly prospective mineral properties located in Sonora and in Chihuahua. The San Francisco mine is situated in the north central portion of the state of Sonora, Mexico, approximately 150 kilometers (km) north of the state capital city of Hermosillo. The project covers approximately 47,395 hectares (ha). San Judas is an early-stage exploration property, located 240 km to the northwest of the state’s capital city of Hermosillo and runs along Federal Highway 16, covering a total aggregate area of 2,806 ha. The Mercedes Property consists of two contiguous claims covering an aggregate area of approximately 345 ha located approximately 250 km east-southeast along Federal Highway 16 from the state capital, Hermosillo.


TSXV:MGR.H - Post by User

Bullboard Posts
Comment by malloney25on Jun 23, 2008 6:39pm
352 Views
Post# 15219218

RE: SPQ RS

RE: SPQ RSAnd too bad MGR management never had the balls to publicise the percentage of votes actually received in support of the reverse split. To the best of my knowledge, all they ever did was issue a brief note saying that the RS got accepted at their special meeting, but without actual voting results. For good reason I  should think.

Bet that only a tiny percentage of shareholders cared to show up for the meeting anyway.
Nobody is making a big issue out of it but fact is that in very many cases the shareholder meetings of juniors only represent a small fraction of total holdership, often 25 per cent or less.

True, MGR holders could have attented the meeting or sold thier shares pre-reverse split. So fact of the matter is that management got away with screwing long-time holders by introducing the RS. The more it now makes their post-split policy of hastily further inflating the number of issued shares at ever-decreasing prices a shady one indeed.

When MGR issued the latest set of drill results recently, once again the results didn't look too shabby at all.
Y'all saw what happened to the share price - couldn't hold any plus, not even for one day.

As we speak, MGR management's credibilty (not Murgors metal-in-the ground value!) is close to zero.
Bullboard Posts