Mahdia Gold Corp MHGPF

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:R/S...Out of the question!!

[Caribbeanman]

Drilling for underground resources.

Guyana Goldfields spent approximately $35,000,000 drilling over a 15 year period to prove up their 7,000,000 ounces. A lot of it exploration drilling.

So we know that Cambior or one of the predecessors drilled and that we are now compliant on using their results as part of our drill program. The question is how many drill holes were done? For resources to be proven, drilling in fill has to occur on a grid marked off in 50' increments. So we don't know how much in fill drilling needs to be done.

The cost of drilling is roughly $200 to $250 per metre when you include support staff, testing etc.. So a 400 foot hole would cost roughly $25,000 to $30,000.

The Weinot pit has not been drilled. A full drill program on an area 1/4 mile by 1/4 mile would require 700 test holes to prove up resources. Roughly $17,500,000.

This is not IMO an overnight program to get back up to $1.00. Guyana Goldfields was under $2.00 a share a month ago and they have 7,000,000 proven ounces, millions in the bank and the plans for the mine completed.

This all may sound negative, but it's kinda how things have gone in Guyana. Having said that I bought back in today at .05 cents. My target is .20 cents by the end of spring.