Slide #20 - Gold mining stocks at the New York show
* Canarc Resource Corp. (TSX-CCM-$0.65) * Candente Resource Corp. (TSX-DNT-$0.48) * Cangold Limited (TSX-CLD-$0.15) * Claude Resources Inc. (American-CGR-$0.88) * Golden Phoenix Minerals (OTC BB-GPXM-$0.30) * Great Panther Resources (TSX-GPR-$0.32) * IMA Exploration Inc. (TSX-IMR-$1.45) * Jaguar Mining Inc. (TSX-JAG-$2.88) * New Guinea Gold (TSX-NGG-$0.34) * Pelangio Mines Inc. (TSX-PLG-$0.33) * PMI Ventures Ltd. (TSX-PMV-$0.20) * Northern Star Mining (TSX-NSM-$0.41) * SpectrumGold (NovaGold) (TSX-SGX$3.83)
I chose to highlight Golden Phoenix Minerals and New Guinea Gold because these are two of my favorites at the New York show. Given my deflationary views, I am concerned that companies with more grassroots exploration prospects may have trouble raising capital to test geological theories for the existence of gold deposits if/when the deflationary Kondratieff debt freeze-up occurs.
Golden Phoenix Minerals is now producing gold at Mineral Ridge. It expects to have a second gold/molybdenum project up and running late this year, and its Borealis project'which it is joint venturing 50%'is expected to commence production in 2005. All three of the company's projects have multimillion-ounce production potential, and the company also has a 1-billion-pound copper project known as the Contact property.
New Guinea Gold expects to commence gold production in 2005, and it has a number of projects with multimillion-ounce exploration potential. Many of those projects already have extensive drill data.