MDN INC. («MDN») is a Canadian mining company focused on the discovery and development of new gold deposits. In 2005, MDN attained the status of gold producer through its participation in the Tulawaka mine in Tanzania. Since then, the Company has been conducting major exploration activities in the vicinity of Tulawaka. MDN is operated by an experienced team with a proven record in resource development, project management and discoveries. The Board of Directors, composed by well known industry players, and company management work in tight synergy to achieve outstanding results. MDN currently has working capital of C$23 million with no debt.

MDN Inc.’s shares trade on the Toronto Stock Exchange (TSX) under the symbol "MDN".

Operations Overview


• Tulawaka mine (30% MDN, 70% Barrick)

  • 2009 cash flows from Tulawaka gold mine should be $C6 to C$10 million (MDN’s share)
  • up to 750,000 oz of gold produced at Tulawaka gold mine since 2005; going toward 1 Million oz over next few years
  • 2009 production of 94 000 oz (62% from underground) at a total cash cost of US$ 407/oz
  • underground grade: 16,1 g/t Au
  • 2 years of mine life but open at depth and underground operation only reached 200 m below the surface
  • drilling program ongoing since July 2009

• 621 sq. km of gold exploration properties around Tulawaka

  • high grade/ narrow intersections (30g/t Au/3m) Ikungu high grade project
  • low grade/ large intersections (0,31 g/t Au/140m) Isambara project (100% owned)

Developing the Crevier deposit, a large niobium (Nb2O5) and tantalum (Ta2O5) resource in Quebec

  • Located in Quebec
  • 100% owned by Crevier Minerals Inc.
  • Main shareholders are MDN at 67.5% and IAMGOLD at 32.5%
  • Scoping study completed, Feasibility stage started in January 2010

Operations in Tanzania

Exploration Program $1.5 to 3 million in 2009-2010

2009 Drilling

• Isambara: A 5 km anomaly on extension of the same volcanic belt as Geita (>10 million oz Au)

• Ikungu: Quartz veins with sulphides
      • Phase I drilling following up on high grade values obtained from grab samples (35 to 70 g/t Au)

2010 Drilling

• Msasa: 2nd largest gold soil anomaly in a 50 km radius around Tulawaka mine

• Viyonza: Part of the volcanic belt hosting Bulyanhulu (>10 million oz Au)

Operations in Quebec

Crevier deposit

• A large indicated resources to be upgraded to measured category with good head grades

• Good location with regards to infrastructure, such as deep-water port, roads, electricity, labour

• Necessary financing in place up to plant construction and supportive Quebec government and financial backers

• A management team with experience in Niobium production and marketing

• A short timeline to production

• Will provide a stable supply of tantalum and niobium when the market likely to need it most

• Positive Scoping Study Highlights:

  • 18 yrs mine life at 4,000 tpd mill throughput
  • annual production of 1.7 million kg of Nb2O5 and 178,000 kg of Ta2O5
  • cash cost of $47/tonne ore
  • CAPEX of $316 million
  • at US$51/kg of Nb2O5 and US$150/kg of Ta2O5
    • Average annual cash flow of $57.5 million
    • NPV @ 5% discount of $272 million pre-tax
    • IRR of 13.9% pre-tax

Corporate Profile on Stockhouse