MAGELLAN GOLD CORPORATION
Trading symbol: MAGE (OTCQB)
Shares issued & outstanding: 74.4 million
Trading range (52 weeks): $0.06 to $0.28
Market capitalization ($0.12): $8.9 million
Largest shareholder (individual): 49%
Magellan Gold Corporation was formed and organized in September 2010 under the laws of the State of Nevada. We are an exploration stage company and our principal business is the acquisition, exploration and if warranted, development of mineral resources.
Magellan controls three projects: the SDA Mill purchase, Mexico; the Silver District Property, Arizona; and the Niñobamba Silver-Gold Property, Peru.
We have acquired an option to purchase the operational SDA Mill in the State of Nayarit, Mexico. The SDA Mill is a flotation plant with a precious metals leach circuit that has operated commercially for ten years. Acquisition of this facility will transform Magellan into a gold production company. Following the purchase, anticipated to occur in 2017, Magellan’s strategy is to increase production and build cash flow, which will make the Company self-supporting and provide the basis for future growth.
Our flagship advanced exploration project is the 100% owned district-scale Silver District Project in southwest Arizona. Historical drilling delineated 16 million ounces of silver plus fluorspar available for open pit mining. Potential for resource expansion is excellent and the Company intends to carry out additional drilling.
We have the right to earn 50% of the Niñobamba Silver/Gold Project in central Peru owned by Rio Silver Inc. (TSX.V: RYO). The project includes an extensive database comprising geological, geochemical, geophysical and drilling data and exhibits promising potential for discovery of large disseminated precious metals deposits. Initial drilling is planned for 2018.
With an exciting gold production facility in our sights, and two quality advanced silver exploration projects in our control, Magellan is poised for significant growth.
Magellan has a small but experienced management team capable of successfully executing the Company’s goals.