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Commodity and Futures - Physical commodity and financial futures markets.
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Posted by johnnyfive on June 20, 2006, 1:00 pm
Michigan Gold Announces Confidentiality Agreement to Broker Sale of
Massive Copper/Molybdenum Mine in Peru
Previously Announced Investor Conference Call Rescheduled Due to Travel
Conflict
BAY CITY, MI, Jun 20, 2006 (MARKET WIRE via COMTEX) -- Michigan Gold
Mining Investments, Inc. (PINKSHEETS: MGGV) is pleased to announce that
it has signed a confidentiality agreement with a prospective purchaser
to be the lead broker in the sale of a one-billion Metric Tonne
Copper/Molybdenum mine in Peru. In light of the terms of the executed
confidentiality agreement MGGV cannot release any further details at
this time. When details of the proposed transaction can be disclosed
MGGV will promptly release additional information.
Michigan Gold, through its control of the renowned Anita Mine in Peru,
has developed a very favorable working relationship with mining
industry parties in that nation. The company stated it views the
opportunity to broker this large Copper/Molybdenum mine as a positive
step in achieving the company's objectives.
MGGV also announced it is rescheduling its Investor Conference Call
with MGGV president Ben Fuschino to fall on July 6, 2006 rather than
June 28, 2006 due to a company business travel conflict. Michigan Gold
explained Mr. Fuschino has commitments in Europe on June 28 and would
not be available on that date.
The company has stated the investor conference call would enable
Fuschino to discuss with MGGV investors "a significant historical
event." A press release containing telephone access numbers for the
newly scheduled July 6th date will be issued soon.
About Michigan Gold Mining Investments, Inc.
Michigan Gold Mining Investments, Inc. is an American junior mineral
exploration company presently in the process of developing mineral
assets in North and South America.
Michigan Gold Mining Investments, Inc. currently retains a one hundred
percent (100%) title to a Platinum/Palladium prospect in Northern
Ontario, named the 'Deadmoose Lake' property.
Michigan Gold also holds an option on the Anita Mine in Peru. This mine
is expected to have workable deposits of precious and industrial
metals. Michigan Gold is now in the process of defining these potential
deposits.
Michigan Gold is committed to the accumulation and development of
unhedged precious metal deposit sites in both North and South America.
The company is of the opinion that the bull market in metals is a trend
that will continue over a generation. Notwithstanding, the current low
levels in Global Inventory in most metals and, most importantly, longer
term strategic considerations originating from high-growth oriented
economies in China, India and other Eastern nations has placed extreme
pressure on pricing in the metals markets. This factor, coupled with
the weakness of the US Dollar due to the USA's large budget and current
account deficits may support historically high dollar prices in metals
for years to come.
Major metals miners have hedged most producing properties and cannot
strongly benefit from rising price trends over the near term. This
places junior miners in a very advantageous position. As properties are
proven and production is ascertained to be feasible, the ability of
Michigan Gold Mining Investments to profit from these historically high
metals prices should come to fruition.
Michigan Gold Investments, Inc. (trading symbol MGGV) is listed on the
OTC market and has commenced the process of becoming a full reporting
US company.
Forward-Looking Statement
The information contained herein and regarding economic, competitive,
governmental, technological and other factors may constitute a
"forward-looking statement" within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended, the Private Securities Litigation
Reform Act of 1995. While the Company believes that the assumptions
underlying such forward-looking information are reasonable, any of the
assumptions could prove inaccurate and, therefore, there can be no
assurance that the forward-looking information will prove to be
accurate. Accordingly, there may be differences between the actual
results and the predicted results, and actual results may be materially
higher or lower than those indicated in the forward-looking information
contained herein. This release contains forward-looking statements with
respect to the results of operations and businesses of Michigan Gold
Mining Investments, Inc., which involve risks and uncertainties. The
company's actual future results could materially differ from those
discussed. Risks and uncertainties of the company will be detailed from
time to time in the company's periodic reports. The company intends
that such statements about the company's future expectations, including
future revenues and earnings, and all other forward-looking statements,
be subject to the "safe harbor" provision of the Private Securities
Litigation Reform Act of 1995.
Contact:
Investor Relations
989-509-5908
SOURCE: Michigan Gold Mining Investments, Inc.
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