Ventana Gold Heating Up Again

The hottest gold stock listed on the TSX looks to be heating up again.

Ventana Gold Corp. (VENGF.PK), an exploration and development miner with assets in Colombia, has risen 11% or C$.54 to C$5.15 halfway through Thursday's afternoon session and after a week-long cooling off period looks to be back in striking distance of its 52-week high of $6.30, reached on June 16.

Last November, Ventana stock was worth just C$.04, a clear victim of the global economic downturn. However, in May, with markets rallying and Ventana shares still trading below C$2, investors and analysts began taking notice and thanks to some impressive drill results from the La Mascota zone at La Bodega, money rapidly flowed in.

The latest analyst to jump on board is Canaccord Adams analyst Nicolas Campbell. On Thursday, he initiated coverage on the stock with a speculative buy, based on his

favourable view of the additional discovery potential on the La Bodega land package and the probability of the company emerging as a potential consolidation target for an intermediate to large cap gold producer.

Mr. Campbell sees the potential for a conceptual gold-equivalent resource of 1 million ounces of gold at La Bodega and potential for 4 million ounces at La Mascota.

He has a target price of C$7.50.