Gold is where you want to be asap.........
I hope you guys aren't afraid to buy Canadian stocks on their market. It does cost more to buy, because you have to do a broker assisted trade. I make 90% of my money in the gold/silver sector so I'm not a green horn in commodities. Heres my number 1 pick for te rest of 07, and 08. Castle Gold CSG.V on the Canadian venture exchance. Number 2 would be AZK on the Amex. When you see the CSG.V numbers you'll understand it's going to be a $12-$14 stock in 09. Their new website isn't up yet, and for past history go to the website for Morgan minrals MGM.V, or the other half of the merger AUQ.V
Current production:
El Sastre.. apx 2500 oz per Q, and increasing pad tonnage which will improve the avg production in 08. Cost per Oz $180.
Castle Gold posted a net earnings of .01 off this mine in Q2 07.
El Castillo mine:
First pour expected Sept 07. production rate of 5000 oz expected by Dec., and increasing to 7500 oz in 08.
Projected net earnings at the present gold price .07 per Q, at 5000 oz per Q. At the 7500 oz production rate earnings per Q are expected to rise to .11 per Q at the current price for gold. 800 gold would generate .13 cents per Q.
La Fortuna mine: Being commisioned and permitted 07-08
deposit contains 4.4 mil tons grading 2.25g AU, 29.9g AG, and .23% copper. (322,000 oz gold, 4.3 mil oz of silver, and 22.6 mil lbs of copper) estimated cost per oz of gold is below zero. Estimated yearly production 25,000-30,000 oz gold, and 400,000 oz of silver, and 2 mil lbs of copper.
In Aug Morgan increased their land package around La Fortuna by 9851 hectres. The new area contains 4 minral zones, and past sampling indicated grades as high as 80.0g gold, and over 1000g silver. Very little exploration on these 4 minral zones.
El Arenal deposit: currently being drilled.
Projected 08 production: 40,000 oz of gold at a cost under 200 per oz. Net earnings est. .48 cents per share
Projected 09 production: (including La Fortuna 25,000 oz) 70,000 oz at a cost below 0 for LaFortuna. Est. Net earnings $1.00 per share at the current gold price.
