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Gold in Canada

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I've mainly focused on exotic gold stocks but have started this article to promote some in my homeland Canada. In the past, Canada has been part of gold rushes, notably Klondike in the Yukon. Today Canada is the 7th largest producer of gold and still has great potential for a large gold discovery. And the best part is that there is no political risks!

Tyhee Development v.tdc *

This company was introduced to me by a friend many weeks ago saying that it was undervalued
and under the radar. They are exploring up in yellowknife which has great potential for a large gold deposit. Management of the company has many years of experience, and notably the Chief Financial Officer has worked for Glamis gold. Now on June 5th, the shares picked up huge volume trading 6 million shares and has since doubled in price. I believe this was due to a recommendation by Mr. Jim Pupulava who has been highly successful with his stocks including Aurelian and Kimber. The project has potential for discovering 3-4 million ounces of gold produced open-pit which could triple this stock from this level. In addition to this, recently it is rumored that Mr. Pupulava had dispatched his friend Dr. Barron (founder of Aurelian Resources v.aru and a reputable geologist) to view this project. The word is that Dr. Barron thinks that this project has good potential. The negative of this project is that Yellowknife would be costly because of the cold climate and less drilling seasons and that there are a lot of shares outstanding from the cost. Sprott Asset management also owns this stock.

Osisko Exploration v.osk *

Osisko is focused in Quebec near the Abitibi Gold belt which has produced over 190 million ounces of gold in the last 100 years. I think this stock could simply be the safest junior gold stocks out there because there is no political risk, the chart is very stable, and they haven't reported anything negative. They are looking at roughly 4 million ounces of low-grade gold and some analysts have  said that this could double from this price level in the coming months.

Eastmain Resources t.er

This stock hasn't really been doing anything but I came across it because their property was near the Eleonore gold project that was acquired by Goldcorp and since then Virgina mines' shares had surged.
Goldcorp has recently acquired an interest in Eastmain and now holds 9.95% of their shares. Dundee and Sprott also hold shares and they also have joint venture projects with Barrick and Newmont. Their clear water project currently has about 1 million ounces of gold and have numerous other projects on its way. It might take awhile for this stock to start moving.

Rainy River Resources v.rr

The Rainy River story has a long history. The Baker family have been in the mining business for years. Now currently operating in Ontario, Rainy River has successfully intersected high-grade gold (for Canada). More drill results awaiting (as you can see the share price had jumped recently). I might buy this on a correction.
My friend has also pointed out that they had found PGM in their recent result.

YGC resources t.ygc

Judging by the chart, this appears to be a very weak stock. However I just want to mention this because of their great drill result released today (July 10th) in their Yukon property. Significant results including 8.75m of 81.43g/t of gold and 20.51m of 42.38g/t of gold. There might be a lot of upside to this stock with continued positive results. Yukon also is a great location for gold with a longer drill season than the North west Territories.

Southern Star Resources t.ssr

I chose Osisko over this one but Southern Star is certainly a good gold company in Canada.
They operate in the famous red lake (Goldcorp) and drilling has been successful to date.
Sprott and Pinetree capital both own this stock

Aurizon Mines t.arz

Aurizon recently had a takeover offer from Northgate Minerals but turned it down basically saying that
the company was too good for them. Aurizon is located in the Abitibi region of Quebec. Their Casa Beradi property currently holds 1.2 million ounces of high-grade (5g/t) gold.

Kenrich Eskay Mining v.kre

Mr. Embry pick for August 2006, this company has a large land position near the famous Eskay Creek mine.

Skygold v.skv

Skygold is in the Spanish Mountains in BC. They have a large land package that is opened in every direction and potentially can be a large deposit. Drilling this summer so can expect a lot of news.

I think this will be my last article for this season.  If anyone has any predictions for where the next big gold discovery might be found, please post! Have a nice summer Smile  Up next will be a focus on uranium.

**I have decided to ditch gold companies in Canada for a bit (probably until the fall) to buy African gold stocks




By YY at 2006-07-05 18:03 | Stocks | YY's blog