Metalex Ventures Ltd V.MTX

Alternate Symbol(s): MXTLF

Metals & Mining Industrial Metals & Minerals

Metalex Ventures Ltd. is a Canada-based company engaged in the acquisition, exploration and development of mineral properties. The Company’s principal projects are located in Quebec and northern Ontario (U2), Canada. Its overseas projects are located in South Africa, Morocco and Mali. Its projects include Wemindji James Bay Property, Kyle Lake Property, Viljoenshof Diamond Project and James Bay Lowlands Property. It has a 100% earned interest in mineral claims located in the Kyle Lake area of Ontario, located approximately 200 kilometers (km) west of James Bay in Northern Ontario and about 80 km west of De Beers’ Victor Mine. It also has an interest in various mineral claims located in the Wemindji James Bay region of Quebec for the exploration of diamonds and owns 100% of the non-diamond project. It also has a 100% interest in certain mineral claims in the James Bay Lowlands area of Northern Ontario. It has a 70% interest in the Viljoenshof Diamond Project in South Africa.

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Metalex Ventures Ltd

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Post by wilf9on Apr 20, 2011 10:48pm

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Post# 18466276

1.305.882

These shares were issued to Chuck as announced in the NR of Apr.13 for $1.200.000. at the same time as the PP which was at .85. GMP was one of the agents. GMP has been involved in takeovers recently, and uses shares acquired through PP to sink the price prior to a bid. GMP has been selling at .85, hence the drop from $1.02. Methinks Chuck's purchase of the shares was to partially counteract the PP shares, and insure his absolute control. He likely wanted their money, and did it this way.
All MY opinion of course!

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