AXcess News also states that investments into gold production are expected to surge in the second half of this year as prices rally and demand returns to the marketplace, after recent drops in production expenditures dropped in 2009 by 47% in Canada and 15.5% in Nevada.
Silverado expects to expand upon its probable reserves of 42,400 tons of high-grade ore (.408 ounces per ton) -- or 17,300 ounces of minable gold. Additional indicated reserves were also noted, which could be extended once drilling commences.
This could be the right time for Silverado, as gold prices improve, so too do their chances of attaining financing to complete a 200 ton-per-day production mill. This mill may be expanded during production as additional ore bodies are developed.
Investors are encouraged to read important discovery information provided in the following Company reports for Silverado Gold Mines Ltd.
NI 43-101 report
2009 Annual Report
GOLD MAKING NEW HIGH AS IT CLOSES IN ON $1300
The Dollar-Bearish and Gold-Bullish.
Investors continue to flock to gold as prices hit another record high on Wednesday after the US Federal Reserve indicated that it is preparing another cash injection to bolster the US economy. The spot price of gold peaked at $1296.30 an ounce. Gold is seeing strong buying support from investors worldwide as the dollar continues to slump and insecurity across economies shows no signs of easing. Jeffrey Nichols, managing director of American Precious Metal Advisors, predicted gold prices could reach $1,500 an ounce by Christmas.
Trends in other Gold stocks for Today:
Entree Gold Inc (AMEX:EGI) up +3.36%
Brigus Gold Corp (AMEX:BRD) up +3.99 %
Great Basin Gold, Ltd (AMEX: GBG) down 1.98%
Active Gold Chart
Additional sources were obtained by:
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