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  • BNN interview with James West praises AM Gold's prospects 0 comments
    Jun 2, 2011 9:18 AM | about stocks: AMG

    Financial and mining expert James West cited AM Gold (CVE:AMG) as one of the best vehicles for investors seeking serious strong growth prospects in precious metals, during an interview on BNN, which can be viewed at http://miningmarketwatch.net/amg.htm.

    West pointed to AM Gold's strong holdings in the Yukon Territories and in Peru, and to its currently low trading price - today, at $0.44 per share - calling the Vancouver, B.C.-based company's $30 million market cap disproportionate to the inherent value of its properties.

    According to West, AM Gold was the first mining company to the Peru region in 2004, located about 775 kilometres southeast of Lima. Now, the company is surrounded by majors, West said.

    The explorer's wholly-owned Pinaya property has resources amassing to 498,000 ounces of indicated gold, 168,000 ounces of inferred gold, as well as 269 million pounds of indicated copper and 115 million pounds of inferred copper.

    West also indicated the benefits of AM Gold's near-term open pit mine potential at the Peru property to potential investors.
    AM also owns the Red Mountain gold project within the Tintina Gold Belt in the Yukon, which has a 1.23 million ounce inferred gold estimate.

    West says this appears to represent only the tip of the Red Mountain iceberg, as interpretation of the area's geophysics indicates that the target size is quite large and extends to depth.

    Indeed, all 12 drill hole results from exploration conducted last summer revealed several encouraging intercepts extending the mineralization approximately 700 metres along strike.

    With AM Gold's plans to add to the Red Mountain estimate via 6,000 metres of core drilling this year, West believes that the relatively new mining company has the potential to rival Kinross' Fort Knox giant, the area's key referencing point.

    Drill rigs were winterized so that spring-summer exploration could get an early start - which it did in March of this year.

    Themes: TSX-V, Gold Stocks: AMG
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