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MX Gold Corp V.MXL.H

Alternate Symbol(s):  MXLGF

MX Gold Corp. is a Canada-based company. The Company is not engaged in any business activities. The Company no longer holds any mineral or mining properties.


TSXV:MXL.H - Post by User

Post by rockingroosteron Oct 05, 2021 5:32pm
394 Views
Post# 33971203

REMEMBER MAGISTRAL TAILINGS PROJECT? just noticed something.

REMEMBER MAGISTRAL TAILINGS PROJECT? just noticed something.Lorne McLeod Warner, current President and Ceo of TARACHI GOLD CORP, was a Director of MX GOLD ( pr June 14,2016) where he was also the head of Technical Services for MX GOLD,looking after Magistral Project.
MX GOLD basiccally gave away  Magistral back to Gracepoint ( subsidy of FIRMA ) since they were being sued for $12 Million.from Nov28/18 news release:
The Company encountered cost overruns and financing difficulties with respect to the Project.  These issues combined with the current Cease Trade Order imposed by the British Columbia Securities Commission and receipt of the Complaint resulted in Company’s decision to enter into a mutual release dated November 24, 2018 (the “Release”) among the Company, Gracepoint, AMM and Proyecto Magistral.    In addition to a mutual release of all claims, the Company agreed to relinquish its interest in the Project.
Manto Resources S.A. ( cant find who owns this company) apparently was able to pave the way and clear all hurdles for Tarachi to acquire Magistral.
Seems coincidental. Anyone have any thoughts?
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