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Goldgroup Mining Inc. is the latest gold stock profiled by Mining Stock Report. Read our summary report on the Canadian-based gold mining producer.
Goldgroup Mining Inc. is a Canadian based gold production, development and exploration company with a specific focus on projects within Mexico. Goldgroup trades on the Toronto Venture Exchange under the ticker symbol GGA and on the OTC under the symbol GGAZF. With their head office located in Vancouver, the GGA has 3 properties in Mexico, 1 currently in production , and two more at an advanced stage of exploration. Goldgroup’s 100% owned signature property, Cabello Blanco….
As of Date : April 23, 2012
Exchange: TSX Venture
Ticker Symbol: GGA
Recent Price: $0.62
52 Week Hi / Low: $1.75 / $0.62
Issued & Outstanding: 130,726,049
Market Capitalization: $81,050,000
Keith Piggott, ACSM, President, C.E.O. & Director
Gregg J. Sedun, LLB, Executive Chairman, Director
John Sutherland, CGA, Vice President & C.F.O
Kevin Sullivan, B.Sc., MAusIMM, Vice President of Exploration
Patrick Glynn, B.Sc., B.Eng,, Vice President of Technical & Projects
Dustin van Doorselaere, B.Sc., B.Eng,, Projects Manager
Francisco Escandon, Geol. Eng., MMSA QP,, Technical Director & Director
Dr. Hans von Michaelis, Ph.D,, Lead Director
Lenard F. Boggio, FCA, CPA,, Director
Corry Silbernagel, PEng., MBA,, Director
Dr. Paul Zweng, M.Sc, Ph.D,, Director
Caballo Blanco, Veracruz, Mexico
Located 65km North of Veracruz, the largest port city in all of Mexico, Caballo Blanco is an advanced stage exploration property, with high suphidation, fully oxidized, epithermal gold system. Propsed is an open pit, heap leach gold project that is projected to go into production in 2013. According to company materials, there is a NI 43-101 compliant resource of 575,000 oz. Au indicated, and 419,000 oz. Au inferred. Goldgroup owns 100% of the Caballo Blanco project. Goldgroup is projecting 95,000 oz. annual production, and there is existing infra-structure in the region.
San Jose de Gracia, Sinaloa, Mexico
Goldgroup owns 50% of San Jose de Gracia (SJG) with partner Dynaresource Inc., which has a Ni 43-101 compliant resource of 147,000 oz Au. indicated and 963,000 oz. Au. inferred. This is a low sulphidation epithermal vein system, that has been recognized as “the most significant gold project’ by the state of Sinaloa, Mexico. So far, 5 of the 50 high prospective targets have been drilled, as the project covers 69,000 hectares. San Jose de Gracia is a historical producer, that has yeilded high grade ore.
Cerro Colorado Mine, Sonora, Mexico
Cerro Colorado Mine is a 100% owned and operated mine of Goldgroup. The mine is currently in production, and yields 20,000 oz. Au. per annum. There was a new crushing system installed at Cerro Colorado to improve gold recover, and there is on going exploration on the property to increase the gold resource. Currently, the NI 43-101 resource is 170,000 oz. Au Measured & Indicated, and 74,000 oz. Au Inferred. The resource is sufficient to sustain 5 year mine life based upon current production levels.
Mining In Mexico
Mexico is considered to be a politically stable region, that is supportive of mining initiatives. There are several world-class mining operations currently in Mexico, and the country has a long history as a gold, silver, copper, zinc and coal producer. In 1992, Mexico amended their previously protectionist mining laws to allow and encourage foreign ownership and investment.
The precious metals market has experienced rapid growth and gold is trading well above historical levels.
Christopher Haugen has no position in Goldgroup Mining. Mr. Haugen encourages anyone reading this report to please conduct your own due diligence, and consult with a professional investment advisor before making any investment decision. In addition, please contact Goldgroup Mining Investor Relations to confirm or contest any information contained in this summary report. According to Goldgroup materials, the IR contact is Stephanie Batory, B.Sc., MBA, – 778.330.2759.
This information is provided on an “as-is” basis with no warranties of any kind. Always conduct your own due diligence before making any investment decisions.
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