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Company Spotlight
Glen Eagle Resources (TSXV: GER)
Glen Eagle’s intent and mission has and will always be its commitment to a non-dilutive + Read More
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The Ubika Research Junior Resource stock watchlist (Week of August 09, 2010)
| PMI Gold Corp. (Symbol: V.PMV) |
| Company Name: |
PMI Gold Corp. |
| HQ Location: |
Vancouver, BC |
| Company Website: |
www.pmigoldcorp.com |
| Shares Outstanding |
252 Million |
| Closing Price (Aug 09, 2010) |
$0.18 |
| Market Cap: |
$45.36 Million |
| Average Daily Volume |
105,000 |
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The Ubika Research Resource Stock Watchlist is a feature that profiles junior mining stocks. Visitors will discover high potential Canadian mining stocks, the best gold stocks, small cap energy stocks and junior gold companies through this very popular feature.
Share Highlight / 1-Year Stock Chart
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Business Overview
PMI Gold Corp. is an advanced stage gold exploration and development company listed on the Toronto Venture Exchange (TSXV: PMV) and Frankfurt Exchange (AOJMW7). The company is exploring for gold in Ghana, West Africa since 2003. The company has two advanced-stage former-producing gold projects in Ghana- namely, the Obotan and the Kubi projects. These projects have potential to move towards production in short to medium term. The first project, expected to be put into production, is the Obotan Project, which could start producing as early as late 2011.
+ More info
What is interesting?
- The company’s focus is finding and developing gold projects in Ghana- an emerging gold mining country in West Africa. There are many multi million ounce gold mines operated by major gold producers including Newmont Mining Corp (NYSE:NEM) in Ghana.
- PMI controls 14 concessions covering 750 sq km area in the heart of a major under explored gold belt in Ghana. Its holdings on the Asankrangwa gold belt alone are more than 70 km long -- the equivalent length of the entire Carlin Trend in Nevada -- and cover 3 past producing large scale mines and dozens of small historical operations.
- The company has significant gold resources in two former producing near term gold development level projects namely–Kubi and Obotan.
- At Kubi project, it has NI 43-101 compliant resource estimate of close to 920,000 oz of gold of which 604,000 oz is in the indicated category.
- Its Obotan project is closer to production. The company has historical gold resource estimate of approximately 600,000 oz at this property with exploration potential that ranges from 1 million to 2 million ounces.
- Strong exploration potential at both properties with near surface mineralization at Obotan and at depth at Kubi.
- Potential to double the resource base at its properties and to generate cash flow in short term through small scale production.
- Ghana is a fairly stable country in Africa and has mining friendly government. The mining infrastructure in Ghana is well developed, and there is currently excess milling capacity. This means that PMI Gold can ramp up production and will have access to the necessary processing capacity.
- The company has a strong management team with significant exploration experience and a strong backing from institutional investors.
- The company raised over $7 million in April of 2010 which will allow the company to continue with its planned exploration activities and can result in short term catalysts.
Risks
PMI Gold Corp is an early stage gold exploration company. The commercialization risks associated with mineral exploration and development are high and its prospects for discovering economically viable gold mines are uncertain. Gold prices can fluctuate and a decline in gold could impact the share price of the company adversely. Early stage exploration companies typically needs significant amount of capital and although well financed, PMI Gold may still require additional financing. This could result in shareholders’ dilution.
PMI Gold Corp. News
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