WESTON, FL , Agnico-Eagle Mines Limited (NYSE: AEM), Newmont
Mining Corporation (NYSE: NEM) and Hecla Mining Company (NYSE:
HL).
Having announced last month that it is raising $500,000 for
operations in Guyana (see details below), it seems Guyana Gold
Corp. (PINKSHEETS: GYGC) is on the move, and the company should
have the attention of investors this morning. Yesterday, the
company, a junior mineral exploration company, issued a press
release announcing the purchases of underground mining equipment
made by Octagon Mining Corp., which Guyana Gold is in a joint
venture with.
This is good news for the company, as the press release states
that this new equipment will increase gold production by
approximately 150 ounces a month for a total production of over an
estimated 250 ounces per month. Guyana Gold Corp. President Eduard
Aronov, said, " Our investors and shareholders should be as pleased
as I am with this new equipment. It will bring our production up
150% within the next 30 days."
Last month, the company reported that it is in the process of
completing a non-brokered private placement, subject to market and
other conditions, of a $500,000 USD aggregate principal amount of
its common stock at $0.50 USD per share for a total of 1,000,000
shares. The company does not anticipate paying a finder's fee in
connection with this offering, which is expected to close by
mid-June 2008.
The proceeds of this offering will be used to fund the Company's
operations in Guyana, including, but not limited to, the company's
drilling and exploration program, purchasing additional mining
properties, entering into joint ventures, increasing production,
and sampling.
In other recent news, the company reported last month that it
has initiated the process of co-listing the company's shares on the
Frankfurt Stock Exchange. The process is expected to take
approximately 2-3 weeks. There are a substantial number of junior
resource and energy companies in North America that have chosen to
co-list their companies on the Frankfurt Exchange to help increase
their exposure and accelerate their business plans and Guyana Gold
Corp's management believes it may garner similar attention.
Guyana Gold Corp. President Eduard Aronov, said, "The Frankfurt
Exchange should have a major impact on the company's ability to
raise capital and to gain new institutional and private
shareholders. In our opinion, the European market has a large
appetite for the North American junior resource companies and we
feel that the time is right to expand into this market."
Investors are urged to watch this company closely!
The stock closed Tuesday at Thirty Nine cents a share.
For an in-depth profile of Guyana Gold Corp., visit
http://www.WallStreetNewsAlert.com/HotStocks/GYGC060308/default.aspx.
In case you are not familiar with company: Guyana Gold Corp. is
a junior mineral exploration company that specializes in
identifying, acquiring and developing precious and base metal
properties as well as assessing whether certain claims possess
exploitable commercial and precious mineral reserves. The Company's
objective is to develop a balanced global portfolio of
early-to-advanced stage projects. Guyana is currently focused on
gold projects in the Caribbean. In Guyana, the Company's key
mineral project is located in the region of Port Kaituma.
Agnico-Eagle Mines Limited (NYSE: AEM) down 3.2% on 2.1 million
shares traded.
Agnico-Eagle is a long established Canadian gold producer with
operations located in Quebec and exploration and development
activities in Canada, Finland, Mexico and the United States.
Newmont Mining Corporation (NYSE: NEM) down 1.6% on 4.6 million
shares traded.
Newmont is one of the world's leading gold companies .
Headquartered in Denver, Colorado, the company employs
approximately 15,000 people, the majority of whom work at Newmont's
mines sites in the United States, Australia, Peru, Indonesia ,
Bolivia, New Zealand and Mexico.
Hecla Mining Company (NYSE: HL) down 4.1% on 3.5 million shares
traded.
Hecla Mining Company, headquartered in Coeur d'Alene, Idaho,
mines, processes and explores for silver and gold in the United
States, Venezuela and Mexico. A 117-year-old company, Hecla has
long been well known in the mining world and financial markets as a
quality producer of silver and gold.
Market Commentary:
"The Commerce Department reported that new orders at U.S.
factories rose 1.1 percent in April, well above the 0.1 percent
decrease economists had forecast," stated Sonja Rudd in Wall Street
News Alert's daily commentary continued at:
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