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Positive Exploration News Bodes Well for U.S. Gold Corp |
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| May 23, 2008 08:23 PM UTC |
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Tracked Blogger
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5/22 - "Over the past nine months, U.S. Gold shares (UXG) lost two-thirds of their value, even while gold itself flirted with over-$1000 prices. The problem? A toxic combination of mildly-disappointing exploration results and sky-high investor expectations. Shareholders apparently focused on CEO Rob McEwen’s past achievements and assumed a bonanza strike would be announced any day." "On Tuesday, U.S. Gold finally gave investors some positive news. UXG reported improved exploration results for its flagship Tonkin Project in Nevada’s fabled Cortez Trend...A word of caution: the results are preliminary, and there is no guarantee that they will be confirmed by 2008 exploration. However, for now, they show that the market was wrong to write off U.S. Gold as a dud. I’m betting that the upward break holds and U.S. Gold shares perform well in the coming months." 
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