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Last $0.04 USD
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As of 8:10 PM 08/4/15 All times are local (Market data is delayed by at least 15 minutes).

magellan minerals ltd (MAGNF) Snapshot

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magellan minerals ltd (MAGNF) Details

Magellan Minerals Ltd., an exploration stage company, acquires and explores for mineral properties in Canada, Brazil, and the United States. The company primarily focuses on gold deposits. Its principal properties include Coringa project covering an area of 23,754 hectares; and Cuiú Cuiú project located in the states of Pará and Mato Grosso, Brazil. The company was incorporated in 2004 and is headquartered in Vancouver, Canada.

magellan minerals ltd (MAGNF) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$160.0K
Chief Financial Officer
Total Annual Compensation: C$41.7K
Vice President of Business Development and Di...
Total Annual Compensation: C$67.1K
Compensation as of Fiscal Year 2013.

magellan minerals ltd (MAGNF) Key Developments

Magellan Minerals Ltd. Has Announces Resignation of Mario Szotlender from the Board of Directors

Mario Szotlender, a founding director of Magellan Minerals Ltd. has announced his resignation from the Board of Directors. He will remain as a corporate advisor to the Company.

Magellan Minerals Limited Auditor Raises 'Going Concern' Doubt

Magellan Minerals Limited filed its Annual on Apr 27, 2015 for the period ending Dec 31, 2014. In this report its auditor, PricewaterhouseCoopers LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Magellan Minerals Limited Announces Drilling Update

Magellan Minerals Ltd. announced an updated National Instrument 43-101 compliant feasibility level resource estimate prepared by Snowden Mineral Industry Consultants for the Coringa Project, Para State, Brazil. Highlights include: //st Measured and Indicated resources of 553,000 ounces of gold representing 2.18Mt at 7.88 g/t gold at a 2.5g/t cut-off. These compare with the existing M&I resource of 516,000oz representing 2.22Mt at 7.23g/t gold at a 2g/t cut-off. Grade has thus increased by 9% and the total number of ounces has increased by 7% despite the higher cut-off grade. Inferred resources of 360,000 ounces of gold representing 2.06Mt at 5.43 g/t gold at a 2.5 g/t gold cut-off grade. These compare with the existing Inferred resources of 405,000oz of gold, representing 2.66Mt at 4.73 g/t gold at a 2g/t cut-off. The grade of the Inferred resource has thus increased by 15% since the previous estimate. at a 2.5 g/t gold cut-off grade, primary resources are contained within four main areas on the project which include Serra (43% of Measured and Indicated, 9% of Inferred), Meio - Come Quieto (35% of Measured and Indicated, 42% of Inferred), Galena - Mae de Leite (21% of Measured and Indicated, 19% of Inferred) and Demetrio (30% of Inferred). Three main zones now form the basis of the Measured and Indicated resources at Coringa which were calculated based on 179 diamond drill holes, totaling 28,436 meters. The Valdette zone does not meet the 2.5 g/t cut-off threshold and will be the target of future drill programs. All of these zones remain open at depth. Serra, Meio-Come Quieto and Demetrio remain open along strike.


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