Gold Stocks Continue to Play Catch Up With Gold Prices
Paragon Report Provides Stock Research on Aurizon Mines Ltd. and Great Basin Gold Ltd.
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 04/17/12 -- Gold investors don't seem to believe that gold stocks will catch up to bullion's rally any time soon. Market Vectors Gold Miners ETF (GDX) is down over 7.5 percent year-to-date. Despite having the price of gold hold on to most of its gains gold miners continue to lag behind the commodity. The Paragon Report examines investing opportunities in the Gold Industry and provides equity research on Aurizon Mines Ltd. (NYSE: AZK) (TSX: ARZ)and Great Basin Gold Ltd. (NYSE: GBG). Access to full reports can be found at:
"This is attracting attention and bringing forth questions of whether gold stocks can play catch up to gold prices," Mr. Lettieri, an economist at National Bank Financial Inc., said in a recent report. "Despite a 50 per cent rise in gold prices since 2010, gold stocks performed poorly and have disappointed many over the past two years." Producers of gold continued to be hit with rising expenses for energy and labor that are eating into their profits, he adds. The underperformance can also be blamed on other problems such as political and operational risks.
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Aurizon Mines Ltd. Recently announced results from the first series of holes from the 2012 exploration drilling program on the Heva and Hosco Zones of the Joanna Project, located 20 kilometres from Rouyn-Noranda, in north-western, Quebec. The best results received to date from thirty six (36) holes are 7 grams of gold per tonne over 9.4 metres in hole JA-11-970 and 3.5 grams per tonne over 21.6 metres in holes JA-11-981 which includes an interval of 9.4 grams of gold per tonne over 5.8 metres. Both holes are located respectively at 100 and 200 metres from the actual in pit resources of the Hosco Zone.
Great Basin Gold Ltd. recently announced that RBC Capital Markets, on behalf of the underwriters has exercised the underwriters' over-allotment option to purchase an additional 10,005,000 common shares at $0.75 per common share and 5,002,500 warrants at a price of $0.90 per warrant, for gross proceeds to the Company of $7,503,750. Each full warrant will entitle the holder to purchase one common share of the Company at a price of $0.90 per common share at any time before 5:00 p.m. (Vancouver time) on March 30, 2014.
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Datum: 17.04.2012 - 06:20 Uhr
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