Gold fields found in Nevada. Mining stocks moving.
Good Evening Members, SIDENOTE: Continue to keep your eyes on WWPW. As we noted before the close today, the shares remain at an inflection point and appear poised for an explosive move having been in consolidation mode on sleepy volume. Keep this one on your radar and don’t take your eyes off of the ball!! A few months back, we profiled the Gold company, Nevada Gold Holdings, Inc. (NGHI). NGHI is a mineral exploration company focusing on identifying and developing large scale gold deposits in Nevada. NGHI operates solely in the state of Nevada.
Here are a few refresher facts for you:
If you took every ounce of gold ever mined in the history of the world, it would barely fill two Olympic sized swimming pools. Over half of this gold has been mined in the past 50 years.
Over 146.7 Million Ounces of Gold has been produced in Nevada since 1907, at a current value of over $135 Billion.
In 2005, only Australia and South Africa produced more gold than the state of Nevada!!!! That year they produced 6.7 Billion Dollars worth of gold.
More about NGHI:
NGHI is currently working on 4 target locations in the Rabbit Creek Gold trend where there’s said to be at least 50 million ounces of gold or $47.8 billion worth of gold.
NGHI would make about $120 per ounce found. NGHI is digging in an area where 50 million ounces of gold is said to exist. Let’s say that there are really 50 million ounces of gold at these locations. The total worth would be somewhere in the ballpark of $6 billion at $120 an ounce for the mining companies. If they found even 1/16th of that, revenues would explode.
Even if NGHI finds just 5% (5 million ounces) of the gold that’s there, they could see $300 million in revenues.
Management:
President and CEO, Dave Matthewson has 35 years experience as an exploration geologist and tremendous success in finding large commercial gold discoveries in Nevada. He is directly responsible for the discovery of over 25 Million ounces of gold worldwide.
Mathewson has vast knowledge of North Central Nevada geology and gone against popular belief to explore where no one else has been interested. Such risks have paid off greatly during his career.
During his tenure with Newmont Mining, Mathewson was involved with and drove the process of numerous acquisitions, many of which led later to discovery of gold deposits. Newmont Mining (NEM) is the 3rd largest mining company in the world. They have a $20 billion market cap.
Mathewson discovered approximately 5 Million Ounces of Gold in the Rain District of Nevada among four separate deposits. He also led Newmont’s Great Basin exploration team which was responsible for the discovery of the 3 to 5 Million Ounce Peninsula Gold-Bearing Gravel Deposit south of Battle Mountain.
As Manager of Exploration for Newmont on the Carlin Trend, the exploration team discovered significant extensions of gold mineralization at Newmont’s Gold Quarry mine and Mike deposit, comprising an additional probable 10 to 15 Million Ounces. After the bell this evening, NGHI announced that the Company has commenced exploration drilling at its Tempo prospect, located on the southern extension of the north-south trending Rabbit Creek Gold Trend, a prolific Nevada gold belt containing at least 80 million known ounces of gold. The first phase of the drilling program for Tempo will consist of testing envisioned structures with four to ten vertical reverse circulation drill holes. Drilling contractor, Rimrock Drilling Co., will drill the holes to a maximum depth of 1,500 feet, and assay results from the holes will be evaluated by the Company to determine the second phase of the drilling program next spring. READ: http://finance.yahoo.com/news/Nevada-Gold-Holdings-Inc-bw-1881240750.html?x=0&.v=1 We don’t have to tell you what gold has been doing for the past several months, let alone the past nine years, where we’ve seen an explosion from 250 to 1145 per Oz. As the news from NGHI filters, what do you think is going to happen with the shares in an explosive industry? Exactly!! As Always, do your Homework and prepare for tomorrow’s trading!!
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