Pelangio Exploration Inc. Stock Analysis PX.V

Pelangio Exploration, Inc. is a junior gold exploration company, which engages in the acquisition and exploration of early stage or undervalued exploration prospects located in gold belts. The company is headquartered in Toronto, Ontario. The company went IPO on 2008-09-10. In Ghana, the Company is focused on its two 100%-owned camp-sized properties: the 100 square kilometers Manfo property, located on Ghana’s prodigious Sefwi Greenstone Belt, and the 284 square kilometers Obuasi property, located in the Ashanti Gold Belt. The Manfo project is located in the Sefwi-Bibiani greenstone belts of the Paleoproterozoic Birimian of southwest Ghana, about 15 km southeast of Newmont's Ahafo gold mine. Its Canadian properties include Grenfell, Mann, Birch Lake, Gowan, Poirier, Seeley and Thunder Gold. The Grenfell property is located in Grenfell Township, Ontario. The company has also entered into an agreement to acquire a 100% interest in the Dankran property located on the northeastern corner of the Company’s Obuasi project and an over 83% interest in the Nkosuo Mining Lease contiguous to the southern end of the Manfo Project.