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Posts Tagged ‘Ontario’

Stock Pick: Brigus Gold (AMEX:BRD)

Today gold and silver finally entered a proper correction. We think prices will level now, and start climbing a bit day-by-day till the end of the year. This correction has given us the change to buy into two beautiful companies. Yesterday we announced our first pick Excellon Resources. Today we bought shares of Brigus Gold @ $1.88

Text from company website:

Brigus Gold is a growing gold producer committed to maximizing shareholder value through a strategy of efficient production, targeted exploration and select acquisitions. The company operates the wholly-owned Black Fox Mine in the Timmins gold district of Ontario, Canada. In 2010, the Black Fox Mine is expected to produce approximately 80,000-85,000 ounces of gold at a lower-than-average cash costs per ounce in the range of $500-$550 per ounce. Brigus expects gold production to grow to 180,000 ounces in the near future. Brigus Gold is also advancing the Goldfields Project located near Uranium City, Saskatchewan, Canada. Combined, Black Fox and the Goldfields Project contain over 2 million ounces of gold reserves. Brigus Gold also has a vigorous project pipeline including the Ixhuatan Project and the Huizopa Joint Venture in Mexico, and joint venture exploration projects in the Dominican Republic. Brigus Gold has a solid balance sheet with growing cash flow from operations.

Click here to download a company presentation of December 9, 2010