Magellan Minerals - A High Potential Gold Explorer in Brazil?

The CEO of Magellan Minerals (MNM.V), Dr. Alan Carter, was at New York City giving a presentation about his company (7/10). Magellan is a junior gold exploration company headquartered in Vancouver, B.C. but it has all its mining activities in Brazil. The Company has 100% interest in 11 projects in the Tapajos province of Para state of Northern Brazil, a historical gold production region.

Magellan just had its IPO at TSX in February this year, only 5 months ago. The IPO price was at 1 CDN and it has traded as high as 2 CDN, then got hammered to 0.85 CDN right now. However, the exploration activities have been going well for the last 4 months since its IPO, according to Dr. Carter, especially at its Cuiu Cuiu project where five large gold-in-soil anomalies have been identified. Newmont Mining owns 8.1% of this Company, which is a big plus and shows Newmont's interest in this Company and their projects. In addition, Magellan reports that several companies have offered it deals on Cuiu Cuiu, valuing the project at significantly more than the current market cap of the company, suggesting excellent upside. And we are only talking about one of a number of projects.