Wall Street News Alert: GNLM Is on the Move! April 26, 2007
Wall Street News Alert’s “stocks to watch” this morning are: General Metals Corporation (OTCBB: GNLM), Goldcorp Inc. (NYSE: GG), Kinross Gold Corporation (NYSE: KGC) and Newmont Mining Corporation (NYSE: NEM).
General Metals Corporation (OTCBB: GNLM) is another new stock to put on your radar and watch as Wall Street News Alert initiates coverage of the company.
General Metals Corporation controls 100% of the Independence claims, which are completely surrounded by Newmont Mining’s Phoenix Mine and are a 240-acre island with legal access. Newmont enjoys 8.5 million ounces of gold and 660 million pounds of copper in reserves with substantial additional mineralized material, which is targeted to be upgraded. The Phoenix Mine is the largest operating gold mine in the US.
In addition, the Company recently completed the acquisition of 150 sq. km. of mining concessions for gold, diamonds and base metals in Ghana, West Africa and plans to commence exploration activities this year.
Continue to watch this company. General Metals Corporation has made some significant announcements recently. Highlights include:
— The company was one of a dozen companies invited to present at the Equities Magazine 2007 International Mining Conference Tuesday at the Yale club in New York City to a sophisticated audience of brokers, fund managers, investment professionals, and active retail investors. — On Monday, the company completed a private placement of 1,060,000 units to three investors for total proceeds of $265,000. The proceeds will enable the company to start the first portion of the Phase 1 drilling program on the Independence Shallow Target at its Independence Mine in Battle Mountain, Nevada. This first program is designed to identify a resource of mineralized material in the zone that would be the start of the planned shallow mining production slated for later this year. Phase 1 budget is $1,350,000, and as more funds are made available for drilling, additional areas are targeted to be brought into the resource category. The Target for Phase 1 is 235,000 oz. gold and 2,500,000 oz. silver, which is proposed to be mined and loaded onto a cyanide heap leach to be developed by the Company.
Wall Street News Alert is placing Aggressive Investors on alert to monitor the progress of General Metals!
GNLM stock closed Wednesday at around Nineteen cents a share.
For Wall Street News Alert’s in-depth profile of General Metals Corporation, visit http://www.WallStreetNewsAlert.com/HotStocks/GNLM042507/default.aspx
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Goldcorp Inc. (NYSE: GG) up 0.9% on 5.6 million shares traded. Goldcorp is one of the world’s lowest-cost and fastest growing multi-million ounce gold producers with operations throughout the Americas.
Kinross Gold Corporation (NYSE: KGC) up 0.7% on 2.4 million shares traded. Kinross, a Canadian-based gold mining company, is the fourth largest primary gold producer in North America and has one of the largest reserve bases in the world with nine mines and 3 projects in Canada, the United States, Brazil, Russia and Chile.
Newmont Mining Corporation (NYSE: NEM) up 1.1% on 4.1 million shares traded. Newmont is one of the largest gold companies in the world. Headquartered in Denver, Colorado, the company employs approximately 14,000 people, the majority of whom work at Newmont’s core operations in the United States, Australia, Peru, Indonesia, and Ghana. Newmont’s industry-leading performance is reflected through high standards in environmental management, health and safety for its employees and creating value and opportunity for our host communities.
Market Commentary:
“New home sales for March were up by 2.6%, noted a report on housing released by the Commerce Department. However, from March of last year, sales were off by 23.5%. Experts say the next few months will get even worse as inventory is way up. There are 7.8 months of supply available or 545,000 new homes on the market. Median sales prices for new homes rose 6.4% to $254,000. Luxury homes, $750,000 or more, are 6% of the overall market, up from 4% in February,” stated Sonja Rudd in Wall Street News Alert’s daily commentary continued at: http://www.WallStreetNewsAlert.com.
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