matrixgold producer within 3 months ipo, page-8

I email MXD today & got a reply...will look foward to later on


The Directors of Matrix Gold have taken the decision to close the Initial Public Offer on 23 April 2010. Whilst sentiment towards Matrix Gold has been positive we were unable to raise our minimum subscription of $3 million and we are returning your funds.

We will be refunding application monies this week.

Whilst this outcome is disappointing it is not the end of Matrix Gold but another chapter in its development. Matrix Gold has been caught up in the negative sentiment for IPOs and Victorian Gold companies. This situation should improve as the year progresses and the gold price remains at a historical high. The news regarding Victorian Gold is improving:

* Castlemaine Goldfields purchased the Ballarat mine from Lihir Gold for $4.5 million and Castlemaine Goldfields has raised $30 million for both its Ballarat and Chewton projects.
* Greater Bendigo Gold Mines has raised over $4 million and resumed trading on the ASX on 13 April 2010.
* In addition Bendigo Gold Mines are producing well as are Northgate Minerals at Fosterville and Stawell.

This good news will take time to be accepted by the market. Matrix Gold has a good suite of projects and the company is now recognized as a positive contributor to the Victorian Gold Industry. The company is progressing its projects whilst exploring opportunities to list on the ASX.

We thank you for your support.
cheers

Karl Sabljak
Director


[email protected]
mobile: +61 (0)424 125 522
telephone: +61 3 9874 0015
fax: +61 3 9874 0015
web: www.matrixgold.com.au