4 Active Gold Stocks to Consider for 4/4/12: SRGL, NEM, FCX, GG - Major Gold Property Acquisition Announced
April 04 2012 - 9:11AM
Marketwired
FinancialNewsMedia.com "stocks to watch" for today: Source Gold
Corp. (OTCBB: SRGL), Newmont Mining Corporation (NYSE: NEM),
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX), GOLDCORP INC.
(NYSE: GG).
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Breaking News Alert: Tuesday after the markets closed for
trading, Source Gold Corp. (OTCBB: SRGL) was pleased to announce
the acquisition of a major new gold prospect: the Great White North
Gold Project with Carlin Type Trend Discovery.
After extensive due diligence, Source Gold has acquired the
Great White North Gold Project based on strong geological
similarities to the Carlin Trend Style gold mineralization. The
Carlin Trend in northern Nevada has produced more gold than any
other mining district in the United States -- estimated at over
50,000,000 troy ounces.
ATAC's 1600 Sq KM, Rackla Gold Project is the only Canadian
drill proven Carlin-Type gold discovery. Source Gold believes that
based upon surface geology and geochemical information it has
acquired, the Great White North Gold Project displays remarkable
similarity to the ATAC Rackla gold district. Furthermore, the Great
White North's proximity to ATAC Resources' recent gold find
combined with the geological similarity of both properties; has
induced the seller of the property to require Source Gold to pay
nothing now, only a future work commitment and restricted shares in
Source Gold Corp. Source Gold will plan a phase one spring
exploration program shortly, details to follow.
(Source: http://www.atacresources.com)
Source Gold acquired the 2,785 acres of highly
prospective mineral claims in Northern British Columbia, on the
Yukon border. The area is home to some of the most prolific gold
finds in Canadian history: Barrick discovered Eskay Creek
which produced over 320,000 ounces and Placer Dome found McDame
Creek where the historic 72 ounce gold nugget was found.
This acquisition makes Source Gold Corp. one of
the only junior gold companies with gold properties diversified
among three of the most prolific gold source areas in politically
stable North America: the KRK Claims in the
Beardmore-Geraldton greenstone belt, the Vulture Mine Claims in
Arizona, and now the Great White North Claims in Northern British
Columbia. The Beardmore-Geraldton belt has historically produced
over 4.1 million ounces of gold, while the Vulture Mine was the
biggest gold producing mine in Arizona before it was shut down due
to the war effort in 1942.
"This acquisition is very exciting for Source Gold," stated
Lauren Notar, President for Source Gold. "Not only is the geology
exciting, but the terms the Company was able to procure for the
property make it a perfect acquisition for a junior. And the
success our neighbors have had on their gold claims is very
encouraging indeed."
Read the entire SRGL press release announcing the acquisition
along with their full disclosure here:
http://www.financialnewsmedia.com/stock-investing-business-investing-news/featured-news.php?id=145
As Gold Mining Companies are ripe for a major rebound, investors
are urged to research this stock further. SRGL is currently trading
just above $0.07 per share.
Newmont Mining Corporation (NYSE: NEM) announced recently that
it has received aggregate net proceeds of approximately $2,460
million, after deducting underwriting discounts and estimated
expenses, upon the closing of its registered public offering of
$1.5 billion principal amount of 3.500% senior notes due 2022 and
$1.0 billion principal amount of 4.875% senior notes due 2042.
Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) recently
reported that PT Freeport Indonesia (PT-FI) has commenced restart
operations at its Grasberg mining and milling operations following
a temporary labor-related shutdown on February 23, 2012.
Mobilization of the workforce commenced on March 12, 2012 and
mining and milling activities are being ramped up. Full production
is expected to be reached in the second quarter of 2012.
GoldCorp Inc. (NYSE: GG) is one of the world's fastest growing
senior gold producers. Its low-cost gold production is located in
safe jurisdictions in the Americas and remains 100% unhedged. The
company recently declared its fourth monthly dividend payment for
2012 of $0.045 per share.
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