Today marks another day of a faltering stock price, and we are...

Today marks another day of a faltering stock price, and we are now reaching that support that we left on the 7/02/2014. It is interesting to have a look what has been achieved over this time period (three months)

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~Descubridora Development

MNE returned high grade copper results from Descubridora (up to 7.73% Cu, 4.99g/t Au and up to 1.84% Co) making this a medium priority vein for future developments.

Further samples at a later time from the Descubridora region brought back even high results, with a grading of up to 34.40% Cu in other samples. This supports the prospects of future development in Descubridora.

Further samples of Descubridora exposing high grade gold zones, with gold as high as 11.80g/t Au in areas, alongside consistently strong Cu results.

~Paraguay Development

MNE returned high grade copper results from Paraguay underground adit (up to 10.89% Cu, 2.06g/t Au and 1.83% Co) making this a high priority target for future developments.

Further samples at a later time from the Paraguay underground mine also complimented original results, highlighting copper averaging at a rounded figure of 4.45%, and a high of 17.20% Cu.

~Panga Development

MNE officially commenced mining at Panga; as of the 10th of April 150t of copper-bearing material was extracted and stockpiled. This announcement highlighted the end of being an explorer, and the beginning of becoming a producer. At a later time, MNE received a 5000 tonne per month mining lease from SERNAGEOMIN for the Panga Mine.

MNE released high-grade results for the Panga vein, indicating a high copper value of 8.55% in some areas (Results of this calibre were minimal). The results indicate that historic mining in the area, only scraped the surface of veins, and that high-grade ore still exists below. Results in line with other veins mentioned above, indicate a mother load is highly probable.

~Evaluation of Costs

The company released its costs for copper bearing rock delivered to toll treatment plant, with a breakeven at approximately 1.5% Cu Grade; This calculation does not include gold or other ore extracted, therefore is lower.

~Capital Raising/Quarterly Finances

Mining Group Limited raised $2.1million in a placement at an issue price of 0.028c, adding to current available funds the company holds. As of the Quarterly report on the 29th of April, the company holds $2,357,000 and expects to spend $940,000 in the upcoming quarter. This leaves MNE with two and a half quarters worth of funds, EXCLUDING income from production, which has officially begun.

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~Future

In the future we have bulk sample results due, further assay results due for the Panga vein, and most importantly our first positive cash-flow! Importantly as illustrated in the Quarterly report, Mining Group Limited are in discussion to obtain a mining lease of 5000 tonnes at the Paraguay Underground adit. Descubridora will not be that far off after Paraguay. All of the above has been completed, and/or will be completed in near future by a company with a market cap of $8,000,000.

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Three months ago the average investor made an estimate that the stock would be as high as 6c by the half year report. What is everyones opinion or thoughts as of today? Is the manipulation and/or downward pressure relieving? Or will it continue never letting us get out of this position?