OPERATIONAL UPDATE - JULY 2015
July 2015
The Company is pleased to provide this OPERATIONAL UPDATE to provide shareholders with valuable information
concerning the company’s development.
• The Company expects to file its late audited financials shortly and is preparing to bring all necessary filings up to date
for the resumption of trading. The Company will be filing its application to resume trading on the CSE.
• The Company has secured the use of a SEPRO ALLUVIAL GOLD RECOVERY PLANT with two FALCON ICON
CONCENTRATORS. This equipment represents an important step forward in Mahdia Gold’s gold recovery operations at
Omai. The deal sees Mahdia Gold operating the SEPRO plant and concentrators with a Mahdia Gold staff. The company
will pay the owner of the SPERO plant fifty percent of revenues after expenses. The SEPRO alluvial gold recovery plant
could begin processing suitable material in July. Management is encouraged by the potential for the plant’s production
capacity. Production from the plant could help the company realize its share buyback program and help close in on
the 1,000 ounces per month target it has set for itself to earn from Omai alluvial operations. Once the plant is fully
maximized, the company may have an option to acquire the use of an additional larger plant. An experienced foreign
geologist resident in Guyana with knowledge of operating SEPRO plants will be on site full time running the SEPRO plant.
• In addition to this, the company is negotiating with the owner of a ball mill located in Guyana, in order to use it at
Omai. Any mineralized hard rock from the stockpiles will be targeted for the ball mill if the ball mill is acquired on
acceptable terms.
• The Company continues to host local joint venture operators at the Omai site where mining operations are currently
underway, and the company earns 20 percent of the gross gold revenues. From this effort July gold production could be
around 200 ounces or more of which the company would earn 20 percent gross.
• The Company will be increasing security at the Omai site at additional costs but necessary to maximize production,
field security and employee safety.
• The Company is diligently working to increase its gold production throughout 2015. A target of 1,000 ounces per month
from alluvial operations has been set by the company itself.
• The main development focus of the Company remains on developing the hard rock potential of the Omai. The company
looks forward to seeing growth and progress in 2015. The Company wishes to thank the shareholders for their patience
and support as it moves forward.
PHOTO GALLERY
Please see page 3 for photos of the SEPRO Alluvial Gold Plant being mobilized for operations at Omai.
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