JIN Adds 51% More Gold to Resources

Gediminas Jasionis, hotStocked (03/11/2010)
"Jinshan Gold Mines Inc. is rallying like it has no tomorrow. These guys just found out that there is more gold on their properties than they thought.

Even though they are only on the pink sheets for their U.S. listing, for once we have a company that holds some real potential. That is already proven by the rising stock price. . .This has put the green light for a price rally up to here, but it might be getting overcrowded at the top. Currently it's a mix of news reports and fundamentals that's driving this stock—and we have both in good shape.

On the hotspot, Jinshan found out last week that one of their gold mines contained 51% more gold than estimated in 2008. . .developments such as these are the key to a successful gold mining company. They state that their proven gold reserves have increased by 1.17 million ounces. At an estimated average gold price of $849 per ounce, that sums up to potential revenues of $993 million. Quite an addition of resources."

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