china deal signed worth watching

This is posted for the benefit of all high risk investors.

Midas, MDS will in my opinion will return to its previous 30 cent plus range before too long. MDSOA the options could be a good way to enter into this stock.

Todays report.

Midas signs formal agreement with one of China’s largest resource companies concerning porphyry copper project
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Highlights:
• Midas Mining China Limited has signed a Cooperation Agreement with Chinmetals group Zijin for the exploration of the Da Hong Shan copper porphyry proin Xinjiang Province, Western China.
• Midas can earn up to a 50% interest in the tenements through a total investment of CNY 24.5 million (approx AUD$3.66 million) over four years.
• Midas’ interest will increase to 70% by completing a Definitive Feasibility Study and taking the project to a development decision, subject to Zijin’s right to Buy-back to a 60% interest.
• A substantive program involving 2,000m of diamond drilling, geochemistry and geophysics will be implemented in 2nd half CY2008 in satisfaction of Midas’ minimum commitment under the agreement at a cost of CNY 1.4 million.