RESEARCH


Madison Explorations, Inc. (M D E X . P K; 0.36) S.T. Target 2.75

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There are those rare times when the decision to invst in a particular 
stck or industry is a no-brainer: homeland security in the wake of 9-11, 
gold in the fall of 2001, and China in early 2002, for example, to name a 
few prescient calls. The Canadian diamond industry and diamond explorer 
Madison Explorations present us with just such a unique opportunity.

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Shres trade in New York under the ticker symbol MDEX. Current price per share 
is just 0.36 cents, nearly 300% above its September low. Opportunities as 
clear and sparkling as this one come along rarely. 




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