Mingo Affiliates Services Inc. is a Florida based S corporation, engaged in the business of precious metal mining. The company’s core focus is in the gold metal mining market. The Company currently holds mining concession rights, exploration and prospection licenses in The Republic of Senegal. The Company is seeking private investors, meeting the qualification of “Accredited Investor”, under regulation D, rule 506 of the SEC prior to the company applying for public trading company status. Mingo Affiliates Services operates its gold mining business in Senegal through its subsidiary, “Mingo Gold”, organized and registered under Senegalese Law.
This investment perspective represents only a snapshot of the investment opportunity; a full PPM, Business Plan and Technical Report are available for review by potential investors.
The employs an experienced staff of geologist, engineers, metallurgist, managers and core mine workers to operate its mining concessions in the mineral rich region of Senegal.
Our company remains bullish on gold and the precious metal industry despite gold coming off its historic ($1,900 oz.) highs in 2012 to its current price (around $1,500 per oz. at the time of this literature) in the month of October 2019. The technical chart below reflects the support level for gold is at the $1,200 dollar level.
In our view, gold has undergone a period of correction which commonly occurs in the equity markets with no significant breakdown in the technical pricing of gold. The demand for gold remains high while reserves are dwindling and selling pressures have eased. Our perspective is that gold will continue to move higher in 2014 and gold reserves will need replenishing to meet the growing world demand for gold. China, India and Switzerland will remain the dominate consumers of gold and precious metal products in the next few years. Gold will continue to be the dominant safe haven for Governments, individual and Institutional Investors and in general the financial community. In fact, given the demand for gold and the under supply of gold we, believe the recent price drop of gold to be an anomaly.
Many investors are not afforded the opportunity to invest in the early stages of a company poised for profitability in its first years of operation. This opportunity is rare and must be given serious consideration. We have outlined some of the most compelling reasons you should invest with our company to aid you in the full understanding of this auspicious opportunity.
Senegal Mining in early stages
- Joint Venture Agreements Signed
- Land Licensed and Ready to Mine
- Stable Production, Maximizing Cash Margins
- 100% Hedge Free
- Build a Strong Balance Sheet
- Free Cash Flow and Increasing Cash Balance
- Expand Exploration Program
- Using free Cash Flow to Self-Fund Growth Strategy
- Experienced Management Team
Focused on Growth
- To Secure a Reserve Life to Year 2025/35
- Growth Through Exploration
- Growth Through Regional Opportunities (JV’s, Acquisitions)
Focused On Growing Production
Phase 1: 60,000 – 70,000 oz annual, Benkanto Mine Production Goal.
Phase 1: 60,000 – 70,000 oz annual, Sining Kang Mine Production Goal.
Phase 2: 60000 – 70,000 oz annual, Bencoutou Mine Production Goal
Phase 3: 40,000 – 60,000 oz annual, Book Voon Mine production Goal
Phase 3: 25,000- – 35,000 oz, annual, Diakha Gold & Diamond Mine
100,000 Diamond Carats annual production, Diakha Gold Mine
Phase 4: New Mingo Gold Concessions (TBD)
Focused on Building Financial Strength:
- Maximizing Cash Margins
- Producing Free Cash Flow
- Increasing Cash Balance
- Use Free Cash Flow to Self-Fund Growth Strategy
- Focusing on the Ounces that Provide the Best Returns
Doing Business in Senegal
Located in West Africa, The Democratic Republic Senegal has an estimated population of 13 million people and a total area of approximately 197,000 km2. Of the country’s population, 94 percent are Muslim and 5 percent are Christian (mostly Roman Catholic). While French is the official language, the Wolof, Pulaar, Jola and Mandinka dialects are also spoken. The capital, Dakar, is on the most westerly point of the coastline of Africa. Senegal gained its independence in 1960, following about 75 years of French rule. It is a democratic republic governed under multiparty rule based on the French civil law system, making the country a location of choice for many foreign embassies and international banks as the headquarters for the West African region. Senegal lies within the Sahel, the semi-desert, or savannah region that forms a broad band across Africa between the Sahara desert to the north and the forested countries to the south. The landscape is generally low, rolling plains rising to foothills in the southeast. The climate is tropical, with a hot and humid wet season (May-October) and a dry season (November April) dominated by hot Harmattan winds. Senegal’s economy is based on agriculture, primarily groundnuts, cotton, grain crops, livestock and fishing; industry, primarily food processing, gold, iron ore and phosphate mining, fertilizer and cement production and downstream petroleum products; and services, which are the main contributor to Senegal’s GDP. The estimated 2011 GDP breakdown by sector is: agriculture 15.4%; industry 22.6% (minerals industry approximately 20%) and services 61.9%. The minerals industry is responsible for approximately 20% of Senegal’s export earnings. Foreign exchange is also derived from tourism. Agriculture supports over three quarters of the labor force.
The government is generally pro-mining and passed a new Mining Code in November 2003. Under the Mining Code, appropriate governmental authorization is required to undertake any form of mining activity. In this regard, the right to explore minerals is conferred only by a permit of exploitation or a mining concession. An exploration permit for mineral exploration activities is granted for a period not exceeding three years, and is renewable. During the exploration phase, the permit holder is exempt from sales tax and duties on imported equipment and supplies necessary for exploration activities, as well as on fuel used for operation of stationary installations. Following exploration success, the permit holder may enter into a mining contract agreement with the State, which provides the State a free carried interest of 10% of the project. Under the Senegalese Mining Code, numerous fiscal incentives are offered to mining license holders, including a minimum seven-year exemption from income tax, amongst other tax exemptions, and the opportunity to secure a lease of up to 25 years for a major project. All mining activities are subject to a royalty of 3% of the value of the mine site payable to the Government. Foreign mining companies are allowed to expatriate profits. From our perspective Senegal is good place to do business especially for the mining industry. We have cultivated contacts in every level of government and in the local community.
For many years many American investors have shied away from investments in West African Countries, siting the high risk associated with corruption, unstable geopolitical and economic conditions. This perception is not rooted in recent reality. A closer look at counties in the western regions of Africa one would understand how politically stable these countries are. Most of the West African countries are rich with natural resources, business and trade opportunities and should not be ignored. Billions of dollars in investment returns are being left to investors from Canada, Australia, China, Europe and Latin America because American investors failed to properly assess the risk associated with doing business in Western Africa. The US has an African Growth Opportunity Act, covering 42 sub-Saharan countries to provide incentives for commerce and trade with the US. Senegal qualifies as one of the countries covered by the Act.
The Democratic Republic of Senegal is a close ally of America, and has been politically stable since the country gained its independence from the French. America has a large Embassy in Senegal and assist in the promotion of trade and commerce between the two countries. Our strategic vision with respect to doing business in Senegal, consist of developing a partnership with local chartered community organizations and incorporate our staff of experts, managers, technicians and financial professionals into the business relationship and in essence become one unified entity operating under legal governance of the two countries. From a geopolitical perspective this module works very well. The local community benefits from the sustained infusion of cash generated from the profits of the business, Taxes, employment of the locals and materials and supplies bought locally by the company. This module significantly lowers the risk associated with investing in foreign markets, since the locals have a vested interest in the success of the company.
Investors interested in this investment opportunity or need additional information should contact Mingo Affiliates Service Inc. at 1-888-788-2643
THESE SECURITIES ARE BEING SOLD IN TRANSACTIONS NOT INVOLVING A PUBLIC OFFERING. THE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, (THE “ACT”) IN RELIANCE UPON EXEMPTIONS UNDER SECTION 4(2) OF THE SECURITIES ACT OF 1933, AS AMENDED. THE SECURITIES AND EXCHANGE COMMISSION HAS NOT PASSED UPON OR ENDORSED THE MERITS OF THIS OFFERING OR THE ACCURACY OR ADEQUACY OF THIS MEMORANDUM. ANY REPRESENTATIONS TO THE CONTRARY IS A CRIMINAL OFFENSE.