Mandorin Goldfields MGD is a company that is currently engaged in aquiring producing properties. The Klipwal Mine is one interesting aquisition. The company currently has an mc of only 5M and has good technicals. There has been institutional buying and it looks like a good prospective buy. Besides the South African project they've also got 39% (attempting to aquire 100%) of the duration project in Zimbabwe. This appears to be a company trading below the sum of its and easy! just the way I like it.

The Klipwal Mine is located approximately 60 kilometres outside Piet Retief, South Africa. Reported recent (1981 to 2003) historical production from the Klipwal Mine is 170,000 ounces at a recovered gold grade of approximately 4.4 grams per tonne. The vendor, who operated the mine between September 2000 and November 2003 reported a yield of 5.0 g/t from 174,000 tons milled at a average reported head grade of 6.3 g/t. The mine has been on care and maintenance since the provisional liquidation of the holding company in 2003 triggered by steadily falling gold prices.

Mandorin believe that there is potential to expand the mine's mineral resources and reserves (currently not NI 43-101 compliant) from downdip and strike extents as well as various identified satellite ore bodies, both outcropping and underground. Potential also exists to upgrade / modernise the installed metallurgical plant to improve metallurgical recoveries and throughput.

The Klipwal Mine currently has a nominal, installed milling capacity of 7,000 tonnes per month and hoisting and leaching (CIP) capacity of a nominal 15,000 tonnes per month. The current Mining Licence covers 7,927 hectares and the mine site supports a substantial infrastructure inventory, including mine accommodation, equipped workshops, spares, offices and laboratory. The Klipwal Mine holds a current Mining Authority under the South African Minerals Act of 1991 and is reported to have a fully funded Environmental Management Fund in place.

Mgd has a number of other projects besides the afore mentioned including a South African coal project.