$NGHI: Gold Breaks the $1,000 Mark!
September 8th, 2009 at 11:51 am Posted by The Dean
How Will YOU Build Your Golden Walkway?
Paying attention to the gold rush? The Dean certainly is because gold broke the coveted $1,000 mark today.
With gold passing $1,000 an ounce, The Dean expects BIG things from gold exploration companies like $NGHI who could see higher profits based on this 21% increase since last September.
Nevada Gold Holdings Inc. (OTC: NGHI) is digging in a trend where 50 million ounces of gold is said to exist. The Dean thinks that they could capture a very small percentage of the area’s gold and still make BIG time profits.
Let’s assume that this estimate is correct and that there’s a possible 50 million ounces at $120 ounces for potential finders. That means $NGHI has potential of playing some serious finders keepers in a $6 billion possible market.
With gold moving past $1,000 before the holidays, $NGHI could see that $120/ounce profit change to $150 or $160 an ounce—which could mean profits of up to $8 billion.
$NGHI is operating solely in Nevada which is the number one gold producing state in the country. Nevada mines produced 7 million ounces or $6.7 billion of gold in 2008—an 17% increase from 2007.
As of the end of the second quarter this year, gold was up 46%. Over the past 8 years, gold is up 250%. That puts the DEMAND for gold around $21.3 billion for 2009 and makes $NGHI a financially attractive pick with even more golden potential.
A Reuter’s article from earlier today suggests that “Investors are turning to gold as they seek assets that preserve their wealth.” The Dean thinks that this could really get things going for $NGHI because now investors have more than 1,000 reasons to invest in the gold stuff!
In another recent article, Barcalys Capital estimates that gold could even higher to $1,050 an ounce. The Dean believes these factors could be adding up and $NGHI could soon be building that brick walkway to golden paradise!
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