MDS 6.25% 15.0¢ midas resources limited

**looking like a bargain**

  1. 34,604 Posts.
    hi guys..

    midas resources (mds) & (mdso)

    i think it's looking like a fairly good entry price at present..last price 19cents

    had a small setback with heavy rain recently, but are not commencing drliiling program..

    abelle recently sold it's 10,000,000 shares, they still have harmony as a substantial holder..

    management and board are first class...

    as well as having some excellent projects that have already had some quality results..

    now that they will be able to commence drilling again we should start getting results soon...

    either worth a small punt or keep a close eye on it...

    the above is my opinion, i might be right or i might be wrong..

    Midas Resources Limited (MDS) is a minerals exploration company primarily
    interested in gold projects located in the Eastern Goldfields of Western
    Australia and the Charters Towers region in Queensland. The company's main focus
    is on the exploration and development of the Lake Carey Project.

    LAKE CAREY: The Lake Carey SuperProject comprises the Lake Carey Project (100%),
    the Linden Project (80%) and the Phantom Well Project (100%).

    The Lake Carey Project: Prospective for gold and located near Laverton in
    Western Australia. Resources as at June 2003 were estimated at 6.6Mt @ 2.2g/t Au

    MDS' strategy for this project will focus on exploration, increasing the
    resource base and advancing feasibility studies with a view to commencing
    mining. In April 2003, drilling returned 5m @ 14.9g/t Au and 15m @ 4.83g/t Au at
    Fortitude. RC drilling in December 2003 intersected 14m @ 8.17g/t Au and 5m @
    13.35g/t Au.

    The Phantom Well Project: Located 5km south of Fortitude and comprising the
    Stealth and Mirage prospects. Drilling in May 2003 returned 3m @ 18.7g/t Au and
    10m @ 2.8g/t Au at Stealth.

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