AMEX high volume gainers: (NG, GSS, UXG, GBG, NGD)
NovaGold Resources Inc. (USA) (NYSEMKT:NG) reported the gain of 3.51% to close at $6.19 whereas overall traded volume stood at 1.41 million shares. NovaGold Resources Inc. (NovaGold) is a precious metals company, which is engaged in the exploration and development of mineral properties in Alaska, the United States and British Columbia, Canada. The Company conducts its operations through wholly owned subsidiaries, partnerships and joint ventures. The Company is primarily focused on gold properties, some of which also have copper, silver and zinc resources.
Golden Star Resources Ltd. (USA) (NYSEMKT:GSS) went up by 1.24% and closed at $4.09 with total traded volume of 1.36 million shares in the last trading day. Golden Star Resources Ltd. (Golden Star) is an international gold mining and exploration company producing gold in Ghana, West Africa. The Company also conducts gold exploration in other countries in West Africa and in South America. It owns controlling interests in several gold properties in southwest Ghana. Through a 90% owned subsidiary, Golden Star (Bogoso/Prestea) Limited (GSBPL), the Company owns and operates the Bogoso/Prestea gold mining and processing operations (Bogoso/Prestea) located near the town of Bogoso, Ghana. Through another 90% owned subsidiary, Golden Star (Wassa) Limited (GSWL), it owns and operates the Wassa open-pit gold mine and carbon-in-leach processing plant (Wassa), located approximately 35 kilometers east of Bogoso/Prestea. GSWL also owns the Hwini-Butre and Benso concessions (the HBB properties) in southwest Ghana.
U.S. Gold Corporation (TSE:UXE) gained by 4.65% and closed at $4.95 whereas traded volume stood at 1.36 million shares for the day. US Gold Corporation (US Gold) is an exploration-stage company. The Company is engaged in the exploration for gold, silver, and other valuable minerals. It holds interests in several exploration properties in the State of Nevada and its properties in Sinaloa State, Mexico. The Company operates in two segments: Nevada and Mexico. A majority of the Company’s Nevada properties, including its Tonkin and Gold Bar properties are located along the Cortez Trend, in north central Nevada. It also owns property, including its Limo property, on the Carlin Trend, which is located east of the Cortez Trend. The Company’s primary properties in Mexico include the El Gallo Project, the Magistral Mine Property, and the Palmarito Project, in addition to large amounts of unexplored land. The Tonkin Complex is divided functionally into five areas: the Mine Corridor, Tonkin North, Patty, Keystone, and Tweed.
Great Basin Gold Ltd. (USA) (TSE:GBG) jumped up by 2.29% and closed at $1.79 with overall traded volume of 1.29 million shares in the last trading session. Great Basin Gold Ltd. (Great Basin) is engaged in the acquisition, exploration, development and trial mining of precious metal deposits. The Company has two material projects, both of which are at the trial mining stage, which consists of the Hollister gold project and the Burnstone gold project. The Company is also conducting early stage exploration on a number of other prospects, primarily in Tanzania and Mozambique. The Esmeralda property was for its ore processing facility, which the Company renovated. During 2009, the Company generated revenue of $33.7 million (US$28 million) from its Hollister operation. The ore was sold under the terms of various toll milling and ore purchase agreements to Newmont Mining Corporation and Echo Bay Minerals Company (Kinross).
New Gold Inc. (USA) (NYSEMKT:NGD) moved up by 2.05% and closed at $4.97 whereas total traded volume stood at 1.17 million shares. New Gold Inc. (New Gold) is an intermediate gold producer with a portfolio of global assets in the United States, Mexico, Australia, Canada, Chile and Brazil. The Company’s operating assets consist of the Mesquite gold mine (Mesquite Mine) in the United States, the Cerro San Pedro gold-silver mine (Cerro San Pedro Mine) in Mexico, and the Peak gold-copper mine (Peak Mine) in Australia. In June 2009, New Gold completed its business combination with Western Goldfields Inc., pursuant to which New Gold acquired all of the issued and outstanding common shares of Western Goldfields. In February 2010, Goldcorp, Inc. announced the acquisition of a 70% interest in the El Morro project, an advanced-stage, copper-gold project located in north-central Chile, Atacama Region. Pursuant to an agreement, El Morro is owned 70% by a subsidiary of Goldcorp, Inc. and 30% by a subsidiary of New Gold Inc.