Pacific Gold Corp. and Other Mining Stocks in the Spotlight

Strategic Insights -

Pacific Gold Corp. has begun limited gold production at its Black Rock Canyon mine in Nevada, with estimated revenues for the first 12 months reaching $6 million and EBITDA of up to $2.8 million once the mine is at full production. The mine's estimated resources are placed at up to 500,000 ounces of gold, giving it a mine life of over 20 years. Additionally, the company is conducting testing at its Fernley Gold subsidiary's Butcher Boy project and investigating additional potential acquisitions.

Key Takeaways:

  • Pacific Gold Corp.'s (OTCBB: PCFG) Black Rock Canyon mine began limited gold production in the third quarter of 2006, with estimated revenues for the first 12 months reaching $6 million and EBITDA of up to $2.8 million once the mine is at full production.
  • The mine's estimated resources are placed at up to 500,000 ounces of gold, giving it a mine life of over 20 years.
  • Pacific Gold Corp. is conducting testing at its Fernley Gold subsidiary's Butcher Boy project and investigating additional potential acquisitions.
  • Northgate Minerals Corp. (AMEX: NXG) jumped 9 cents on Friday to finish the day at $2.92 per share, with volume on the session being a strong 3.4 million shares.
  • EuroZinc Mining Corp. (AMEX: EZM) rose 1 cent on the session to finish the day at $2.41 per share, with volume on the session being about a third of the usual trading volume.
  • Birch Mountain Resources Ltd. (AMEX: BMD) improved one cent on Friday to finish the day at $3.11 per share, with volume on the session being 493,000 shares.
  • Barrick Gold Corp. (NYSE: ABX) climed 23 cents on Friday to finish the day at $29.29 per share, with volume on the session being 3.8 million shares.
  • Newmont Mining Corp. (NYSE: NEM) fell 5 cents on Friday to finish the day at $43.78 per share, with volume on the session being 5.4 million shares.

Statistics:

  • Pacific Gold Corp.'s (OTCBB: PCFG) estimated resources for the Black Rock Canyon mine are up to 500,000 ounces of gold.
  • The mine's estimated revenues for the first 12 months are $6 million.
  • Pacific Gold Corp.'s (OTCBB: PCFG) EBITDA for the first 12 months of full production from the Black Rock Canyon mine could be up to $2.8 million.
  • Northgate Minerals Corp. (AMEX: NXG) has 34,735 hectares of property in north-central British Columbia.
  • EuroZinc Mining Corp. (AMEX: EZM) owns the Neves-Corvo copper mine and the Aljustrel zinc, lead, and silver project in southern Portugal.
  • Birch Mountain Resources Ltd. (AMEX: BMD) has 402,748 hectares of mineral interests in Alberta.
  • Barrick Gold Corp. (NYSE: ABX) has 88.6 million ounces of total proven and probable gold and mineral reserves as of December 31, 2005.
  • Newmont Mining Corp. (NYSE: NEM) has 93.2 million equity ounces of proven and probable gold reserves and an aggregate land position of approximately 50,600 square miles as of December 31, 2005.

Sources:

  • Pacific Gold Corp.'s (OTCBB: PCFG) press release (cited in the article)
  • Northgate Minerals Corp.'s (AMEX: NXG) website (cited in the article)
  • EuroZinc Mining Corp.'s (AMEX: EZM) website (cited in the article)
  • Birch Mountain Resources Ltd.'s (AMEX: BMD) website (cited in the article)
  • Barrick Gold Corp.'s (NYSE: ABX) website (cited in the article)
  • Newmont Mining Corp.'s (NYSE: NEM) website (cited in the article)
  • M2 PressWIRE (cited in the article)