MAGELLAN GOLD CORPORATION
Trading symbol: MAGE (OTCQB)
Shares issued & outstanding: 51.6 million
Trading range (52 weeks): $0.04 to $0.28
Market capitalization ($0.13): $6.7 million
Largest shareholder (individual): 75%
GULF & WESTERN INDUSTRIES, INC.
Magellan subsidiary 85% owned - holds mineral assets
Magellan Gold Corporation was formed and organized in September 2010 under the laws of the State of Nevada. We are an exploration state company and our principal business is the acquisition, exploration and if warranted, development of mineral resources. We have not presently determined whether the properties to which we have mining rights contain mineral deposits that are economically recoverable.
In August 2012, we entered into an Option Agreement to purchase “The Silver District Project” consisting of patented and unpatented lode mining claims, unpatented mill site claims and an Arizona State exploration permit, which total over 2,000 acres in La Paz County, Arizona. In September 2014, we purchased the Silver District Project. Following the purchase, we transferred our interest in the project into a newly formed subsidiary, “Gulf + Western Industries, Inc.”
In June 2016 we appointed experienced new management and presently are focused on further exploration and development of the Silver District Project. We also are actively seeking other quality advanced-stage precious metals properties, and in particular those with potential for early production.