Topic: How To Invest

Hi: We have benefited from your advice since you first started your Successful Investor newsletter. Do you know anything about a company called Medoro? Thanks.

Article Excerpt

Medoro Resources, $0.66, symbol MRS on Toronto (Shares outstanding: 401.5 million; Market cap: $265.0 million), explores for gold and develops gold properties, mostly in Colombia. The company owns interests in the Zona Alta, Echandia and Zona Baja exploration properties. All of these properties are located in Colombia’s Marmato District. As well, the company recently bought the Mineros Nacionales gold mine, which is located on the Zona Baja property. Mineros Nacionales produces about 25,000 ounces of gold per year. Medoro estimates that the entire Zona Baja property holds total reserves estimated at 3.4 million ounces of gold and 9.6 million ounces of silver. The company hopes to use these reserves to expand the mine and add to its cash flow. Medoro also holds a 100% interest in the Lo Increible 4A and 4B concessions in Venezuela, as well as interests in other gold-exploration areas outside of South America. Operating in Colombia entails above-average political risk, but Medoro Resources is okay for highly aggressive…