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« Gold ready to move past $700 in coming weeks | Main | Staccato Gold Resources: BUY »
Apr152007 Portfolio Update 15 April 2007

Below is a short review of our investments to date.

1. Agnico Eagle (AEM) we paid $30.88 and it now stands at $38.37, a rise of 24.00%, which is a little disappointing after Agnico reached $41.00 and then fell back to around £35.00. However it has held and is now beginning to climb again which is pleasing. In view of the M&A activity that is going on we are surprised the Agnico has been targeted by a larger organisation wanting to secure a good pipeline of projects.

2. Bema Corp (BGO) we paid $4.56 and it has it has been taken over by Kinross for a healthy profit.

3. Kinross (KGC) we acquired at $10.08 and this stock now stands at $14.71, a rise of 45.9%. Having absorbed Bema this stock has continued to make steady progress and is now preparing to challenge its old high of $15.39. If Kinross can surpass this figure then we are in un-chartered waters, which could see this stock go a lot higher.

4. Silverado (SLGLF) we bought at $0.08 and it now stands at $0.147 a gain of 83.00%. The Nolan Heights project continues to make good progress and we ‘feel’ that fairly soon they could just surprise everyone with a major discovery which is why we hold this stock. The green fuel side of the business has hit a major milestone by breaking ground for the construction of their first project, the $29 million operating plant. This news has also helped to push the stock price up.

5. US Gold Corp (UXG) we bought at $8.40 and it now stock stands at $6.67 a fall of 20%, so we have decided to sell in to this rally and go to the sidelines and see if Rob McEwen, the company Chairman can indeed take this stock further.

6. Yamana Gold Inc (AUY: NYSE) we paid $9.37 on 27 September 2006, it is now trading at $15.06 for a rise of 60.7%. Having dropped to around $13.00 Yamana is now making good progress and could challenge its old high of $15.44. Again if it can surpass this figure then a decent run could well be the order of the day.

7. Rio Narcea Gold Mines was added as a ‘Watch’ as a member of the team had selected it for his entry into a Stock Picking contest. Since then Ludin Mining Corporation has entered cash offer to take over for Rio so that looks to be end of Rio as a single entity.

8. Canarc Resource Corporation (CCM: TSX) we have added Canarc to our list to be watched closely but we have not made a purchase just yet. The stock has been stable recently moving just 1 cent for $0.71 to $0.72.

9. Staccato Gold Resource Limited (CAT: TSX) this is a speculative buy and we made a purchase on 5th April at $0.62, the stock has dropped to $0.58 on moderate volume but it is early days yet for this stock.

Overall, we are satisfied with the current performance of our selection. We are of the firm belief that gold is about to move higher and touch the $1000/oz level before the year ends so we will continue to research the market for new opportunities which will can add to our portfolio.

We welcome any comment that you have and also invite you to tell us about your favourite gold stock and why you think it will do well. Your input will be of benefit to all of our readers so please give it a shot.

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Reader Comments (1)

RedBack Mining Ghana. Trading at 5.22

June 4, 2007 | Unregistered CommenterPaul Caouette

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