Medinah Minerals & Cerro Dorado - Mining Play of 2007
May 25th, 2007 by admin
Last year Medinah Minerals (MDMN) and Cerro Dorado (CDCH) ranked in the top 50 of gold mining companies with respect to share price appreciation according to Gold Drivers.
Medinah opened 2006 at $0.0036 a share and closed 2006 at $0.021. Cerro opened 2006 at $0.012 and closed 2006 at $0.07. Oddly enough, both companies posted the same amount of appreciation, a 483% gain.
Although it was a great gain, it was not enough to top the rankings. In fact, both companies remain significantly undervalued with market caps in the $10 - $12 million range.
According to recent updates from both companies, they are “extremely close” to closing a JV agreement with one of the companies discussed at the shareholder meeting in September 2006. The Mining Play of 2007 shareholder blog and discussion forum will open when “extremely close” becomes “closed.” At that time we expect tremendous price appreciation and anticipate rapidly moving up the Gold Drivers’ ranking, hoping to eclipse our share appreciation for 2006.
Stay tuned to the Medinah and Cerro Web sites and news channels to find out when the JV comes to fruition.
In anticipation of a consumated JV a new discussion forum has been created. Unfortunately members of the Mining Play of 2006 discussion forum will need to re-register. Sorry for this inconvenience.