Gold in Those Hills for $NGHI?
August 31st, 2009 at 8:11 am Posted by The Dean
Nevada Gold Holdings, Inc. (OTC: NGHI) is a mineral exploration company focusing on identifying and developing large scale gold deposits in Nevada.
Today, $NGHI announced that they’ve secured $500,000 in equity financing. The Dean has done his homework and found that this financing will allow $NGHI to begin their gold exploration efforts in the Tempo prospect.
This 2,920 acre plot of land is part of the Rabbit Creek Gold Trend where there’s believed to be at least 80 million ounces of unclaimed gold—$76 billion worth.
Nevada ranks as the #3 gold producing location in the world and produces approximately 75% of gold in the United States. Nevada mines produced 7 million ounces or $6.7 billion of gold in 2008—an 17% increase from 2007.
The Dean thinks these numbers put $NGHI where they want to be.
$NGHI President, Dave Matthewson, has more than 35 years experience as an exploration geologist and has spent 20 of those years locating $3 billion worth of gold in the Nevada area.
Matthewson believes he has located 4 different locations with the Tempo prospect that could product 5 million ounces each. If Matthewson’s targets are golden as believed, $NGHI could possibly be blinded by $2.4 billion in gold!
The Dean thinks that if Matthewson brings his A game like he did with Newmont Mining (NYSE: NEM) where he worked for 12 years, $NGHI could see significant GROWTH over the next few years.
During his 12 year stay at Newmont Mining (NYSE: NEM), Matthewson was credited with finding more than 25 million ounces of gold. The Dean believes that if Matthewson can achieve similar success in finding roughly 2 million ounces a year, $NGHI could see PROFITS of $240 million a year.
The Dean doesn’t know for sure how much gold is in those Nevada hills but he is confident that the man behind $NGHI is a great leader for the job.
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I like gold stocks personally