Struggling Gold Stocks Look for 2012 Turnaround
January 03 2012 - 8:16AM
Marketwired
Gold mining stocks have come under significant pressure in recent
months amid widespread weakness in precious metals. According to
the Associated Press much of the decline in gold can be blamed on
questions about Europe's efforts to resolve its sovereign debt
crisis and what the impact on the global economy will be. A
slowdown in growth in China has also been a factor. The Paragon
Report examines the outlook for companies in the Gold industry and
provides equity research on Yamana Gold, Inc. (NYSE: AUY) (TSX:
YRI) and Great Basin Gold Ltd. (NYSE Amex: GBG) (TSX: GBG). Access
to the full company reports can be found at:
www.paragonreport.com/AUY
www.paragonreport.com/GBG
While gold has been in a tailspin during the final months of the
year, the yellow metal continued an 11-year winning streak. Gold
prices finished 2011 at $1,566.80, representing a 9.3 percent
annual increase. While gold prices managed to post gains last year,
the Market Vectors Gold Miners ETF (GDX) posted a massive 15
percent loss in December alone. In late December the GDX reached
its lowest level since August 25, 2010.
The Paragon Report provides investors with an excellent first
step in their due diligence by providing daily trading ideas, and
consolidating the public information available on them. For more
investment research on the gold industry register with us free at
www.paragonreport.com and get exclusive access to our numerous
stock reports and industry newsletters.
Yamana Gold Inc. engages in gold and other precious metals
mining, and related activities, including exploration, extraction,
processing, and reclamation. The company recently announced that it
has started operations at its "Mercedes" mine. The Mercedes mine,
located in Sonora, Mexico, is Yamana's newest mine and represents
the first of a number of new mines to begin production into 2013.
According to Yamana, "the mine development period, 114,000 tonnes
of ore were stockpiled with an average gold grade of 7.84 g/t and
114.9 g/t of silver which represents approximately 30,000 gold
equivalent ounces (GEO) in stockpile."
Great Basin Gold Ltd. engages in the acquisition, exploration,
and development of precious metal deposits. It explores for gold,
silver, and aggregate. The company is currently focused on its two
producing mines in the world's two richest gold regions: the
Hollister Project on the Carlin Trend in Nevada, USA and the
Burnstone Mine in the Witwatersrand goldfield of South Africa.
The Paragon Report has not been compensated by any of the
above-mentioned publicly traded companies. Paragon Report is
compensated by other third party organizations for advertising
services. We act as an independent research portal and are aware
that all investment entails inherent risks. Please view the full
disclaimer at http://www.paragonreport.com/disclaimer
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