Capital Gold Corp. (CGLD.OB)
Capital Gold Corp. (OTCBB: CGLD/TSX.V: CGC) is a gold exploration and development company. Capital Gold Corp. owns the El Chanate gold property in Sonora, Mexico. The 2007 updated proven and probable gold reserve is 832,000 ounces.
Capital Gold Corp. is constructing a surface gold mine and facility at El Chanate capable of producing about 2.6 million metric tons per year of ore from which they anticipate recovering about 44,000 to 48,000 ounces of gold per year, over a seven year mine life. The crushing and stacking of ore began in March, and Capital Gold Corp. anticipates the first gold sales by the end of the second quarter of 2007.