Gold American Mining Corp (SILA.OB)
Gold American Mining Corp was incorporated in 2007 under the name of Silver America Inc. The company recently underwent a name change to Gold American Mining Corp on June 23rd, 2010. The company is engaged in exploration and acquisition of precious metals and mineral resource properties in United States. The company has also several international properties. Its main properties include Keeno Strike project in Clark County, Nevada and Guadalupe project located in Zacatecas State, Mexico .
Mostly everything Gold American Mining Corp does is in vein.
Good thing, too, because that's where high-grade gold and silver is found. The company's latest project is the option agreement it signed earlier this month to acquire a 100 percent interest in the 439.8-acre high-grade silver-gold La Escondida Project located in Sonora State, Mexico.
The surrounding region has seen significant recent activity by foreign mining companies. Nineteen miles to the northeast of the property is NYSE-listed Yamana Gold Inc.'s Mercedes project, a development stage gold-silver project expected to start production at a rate of approximately 120,000 gold-equivalent ounces per year from 2012. Eighteen miles to the north of Gold American's La Escondida project is the Oroco Resources Corp.'s Cerro Prieto project, which recently reported 383,833 ounces of gold and over 6 million ounces of silver reserves.
The La Escondida project is a valuable addition to our growing project portfolio, commented Johannes Petersen, President of Gold American. It has an exciting potential to host a gold-silver deposit and the property's infrastructure is excellent. A sampling program carried out at the end of 2009 showed that the property contains multiple targets with high-grade silver grades and good values of gold and lead. Several of the target zones remain open in at least one direction, and it has been determined that historic workings reached only the 30 meters depth level. These findings are significant in that there is the potential, with additional exploratory work, to show mineralization over much greater strike lengths and depths.
Gold American Mining Corp., SILA.OB, precious metal exploration, acquisitions, gold and silver production potential, Guadalupe,Property, Keeno Strike Property, Mexico, Nevada, La Escondida Project, Sonora State
The La Escondida property is host to two distinct mineralized targets associated with a fault: a bulk tonnage-style gold-silver-lead disseminated area and a high-grade epithermal vein-hosted silver and gold area. Small gambusino-style workings occur at different points on these targets, where historical sampling returned the following selected results:
The high-grade vein-hosted silver and gold target consists of two veins. One vein is exposed over an area at least 800 meters long and is reported to be 3-5 meters wide. The second vein is exposed over an area at least 500 meters long and is reported to be 1-2 meters wide. The disseminated zone is found between these two veins, approximately 100 meters wide. These zones are open both along strike and at depth.
Golden Star Resources Ltd. (Amex:GSS)
Golden Star is a mid-tier gold mining company over a quarter-century in age and total historical production of over two million ounces of gold. The Company has two operating mines situated along the prolific Ashanti Gold Belt in Ghana, West Africa. Production in 2009 totaled 409,902 ounces of gold from these two mines. Our growth strategy is the result of our exploration and expansion activities at both Bogoso/Prestea and Wassa/HBB. Our Bogoso sulfide and oxide processing plants are working in tandem to enable us to achieve our 2010 operating guidance. The CIL plant at Wassa is processing ore from the Wassa pits in addition to high grade ore from the HBB satellite mines. In addition to operational growth, the Company has consistently grown through exploration and corporate development activities. Lastly, Golden Star has a long-term commitment to sustainability with particular emphasis on health, education and the environment.
Golden Star Resources Ltd. is pleased to announce its unaudited second quarter 2010 results including net income of $7.6 million or $0.030 per share and operating cash flow before working capital changes of $39.3 million or $0.153 per share. The Company will host a live webcast and conference call to discuss its quarterly results on Tuesday, August 10, 2010 at 11:00 a.m. ET. To access the webcast and conference call, go to the home page of the Company's website, www.gsr.com. All currency in this news release is expressed in U.S. dollars, unless otherwise noted.
Tom Mair, President and CEO, said, Again we delivered a solid quarter of operational and financial results at Golden Star. We had net income of $7.6 million or $0.030 per share, we are free cash flow positive and we had operating cash flow of $39.3 million before working capital changes or $0.153 per share. Our cash position has increased to $181.2 million. Gold production for the quarter was over 100,000 ounces. Our exploration group has been busy this year with six drill rigs in operation around our mines in Ghana.
Kinross Gold Corporation (NYSE: KGC)
KGC is a gold mining company with mines and projects in Canada, the United States, Brazil, Chile, Ecuador and Russia, employing approximately 5,500 people worldwide. Kinross' strategic focus is to maximize net asset value and cash flow per share through a four-point plan built on: delivering mine and financial performance; attracting and retaining the best people in the industry; achieving operating excellence through the Kinross Way; and delivering future value through profitable growth opportunities.
Kinross Gold Corporation recently reported that it has filed with the securities regulatory authorities a notice of a special meeting of Kinross shareholders to be held on September 15, 2010 (the Meeting). The purpose of the Meeting is to consider the issuance of Kinross common shares in connection with the previously announced business combination with Red Back Mining Inc.
Further information regarding the transaction and the Meeting (including the time and location of the Meeting) will be contained in an information circular that Kinross will prepare, file and mail in due course in connection with the Meeting. It is anticipated that meeting materials will be mailed on or about August 17, 2010 to registered and beneficial shareholders of record as at close of business (Toronto time) on August 11, 2010.
Sign-Up For Free Stock Alerts At http://crwepicks.com/signup
THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!
Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment.The CRWEPicks.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer ( http://crwepicks.com/disclaimer ) is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold CRWEPicks.com report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. ( read more ) Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings Inc. (CRWE.OB) is a newswire as well as an IR and PR firm. Crown Equity Holdings Inc. (CRWE.OB), in some cases, provides media advertising and public awareness for both public and private companies, as well as disseminating news. As such, in some cases, when Crown Equity Holdings Inc. (CRWE.OB) advertises for a particular client, Crown Equity Holdings Inc. (CRWE.OB) charges an advertising fee which it must disclose under 17B. The fee may be in cash, in free trading stock or in restricted stock. Crown Equity Holdings Inc. (CRWE.OB), if paid in stock, can and may sell those securities during the advertising period. Crown Equity Holdings Inc. (CRWE.OB) has received twenty-five thousand dollars in cash from a third party (Winning Media) for (3) days of advertising for Gold American Mining Corp (SILA.OB)