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« GOLDEN STAR RESOURCES LTD (GSS: AMEX): Up 13.76% since we bought in July. | Main | GOLD CORP: The Glamis takeover, don’t bank on it. »

THE FREE GOLD PORTFOLIO: Update 05 September 2006

Despite being up by 12% in 2 months our portfolio contains 3 laggards and they are Silverado Gold Mines Limited, US Gold Corporation and Taseko Mines Limited.

As a strategy we are trying to invest in stocks that we believe have a good probability of doubling in the near term. Our portfolio has gained in value by 12% in only 2 months so we are fairly happy with the progress made to date. When attempting to achieve this sort of success we know that the additional risk will lead to some hairy times. For the 3 stocks mentioned above this is one of those periods. So lets look at them on an individual basis:

Silverado: (SLGLF)

This gold miner come green fuel company has stated that there will be an important announcement, hopefully this month that we bring good cheer to those of us who are holding and watching for the moment. Silverado is currently running a competition to win a gold nugget, which is all well and good, but it is no substitute for good news. We will continue to hold for the near term to give them time to deliver their good news. From a chartist standpoint this stock does appear to be consolidating around the 6-cent level so it may be a buying opportunity. As investors we have bought twice, at 8 cents and 6 cents so we will not be committing any more of our funds just yet.

U.S. Gold Corporation
: (USGL)

Rob McEwen, Chairman and CEO of U.S. Gold Corporation have just issued an open letter to all of his shareholders, which is very positive and we are pleased to read it. The stock also looks to have completed its nose drive down the charts so we are hopeful that this is turn around time. On the negative side we wonder if Rob who is the biggest individual share holder in Gold Corp might be a little distracted by Gold Corps takeover of Glamis. For now we will continue to hold.

Taseko Mines Limited: (TGB)

Apart from the results hassle that we have already covered we are confident that this copper stock is destined to go a lot higher. Again we will continue to hold.

The only FREE GOLD PORTFOLIO on the web that we are aware of.

If you have any comments please fire them in as your comments will be of benefit to our readership.

06 September 2006

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