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« Agnico-Eagle Gold Mines Limited: Hits all time high | Main | Silver versus Gold? »

Silverado Gold Mines Limited: Up 24.29% yesterday

Logo 05sep07

The shares of Silverado Gold Mines Limited jumped from $0.07 to $0.087 on volume of 9.57 million shares traded yesterday to post a gain of 24.29%. So, what brought this on you ask? We will start with this news release:

“FAIRBANKS, AK and VANCOUVER, Sept. 6 /PRNewswire-FirstCall/ - Silverado
Gold Mines announced today that it has begun exploration drilling on its Nolan property using the company's recently purchased diamond drill rig. The drilling focuses on an area North of Smith Creek: where company backhoe trenching previously identified three zones that contain gold-antimony bearing quartz vein systems”

To read this news release in full with associated table of results just follow this LINK.

This comes on the back of a news release on the 29th August 2007 that contained the following:

“Silverado Gold Mines Ltd announced today that 2,811.74 ounces of nugget gold 1/4" and larger have been recovered since the beginning of sluicing operations earlier this summer. These large nuggets have been systematically removed from the upper portions of the wash plant gold recovery system throughout the past three months. In addition to the bigger nuggets, over 207 pounds of concentrate that contains gold particles smaller than 1/4" in size has been separated and is being delivered for refining.”

During the washing process, another large nugget weighing 18.32 troy ounces was discovered; making it the largest gold nugget recovered this season. (Earlier this year, a 12.4-ounce nugget was also found.

There is one factor that is always difficult to quantify by fundamental or technical analysis is that is we know as ‘gut feel’ It is not tangible but we cant help feeling that the much sought after mother lode is closer than even we can imagine. Remember if you don’t have dreams they cant come true.

A quick look at the chart:

Silverado Gold Mines Ltd 05sep07

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Reader Comments (2)

Has Silverado finally found the "huge bonanza?" (As quoted from another SLGLF comment on this site stating such must occur to even get to the $1/share mark). There are a lot of press releases which state something to the affect the "bonanza" is here. In addition, there is MUCH talk about Coal to Liquid technology at the higher echelons of US Government. From what is published, Silverado stands to make their mark in this new area of industry.

Last week SLGLF rose more than 25% between Thursday and Friday; it is currently at .0871/share. Inidications point to increased interest and additional increases in price. How high?...I am no expert and offer the analysis up to more experienced investors (YOU):

Does this mean the consensus is the share price will reach $1? (AND BY WHEN??)

I'm eager to read the results...

September 10, 2007 | Unregistered CommenterBulloney

Silverado has been looking for this mother lode for 42 years along with everyone else. What makes them different from many of the exploration companies out there is that they are producing gold along their exploration road.

The dream is that one day we will wake up to find that their shares have been suspended pending an announcement.

If that announcement is the next big gold discovery then the share price could go to the moon!

September 22, 2007 | Unregistered CommenterGold Prices

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