Mississauga, ON -- (SBWIRE) -- 01/29/2014 -- AllPennyStocks.com Media, Inc. (http://www.AllPennyStocks.com/) announces its latest article titled “Gold Standard Ventures Affiliate Buying Pinon Properties from Scorpio Gold.”
Companies mentioned in this article include Scorpio Gold Corp. (TSX-Venture:SGN), Newmont Mining (TSX:NMC), Cameco Corp. (TSX:CCO) and Gold Standard Ventures Corp. (TSX-Venture:GSV).
Gold prices are back on the rise Wednesday after trading lower the first two days of the week, despite hitting their highest level in three months on Monday. The precious metal that analysts have been down on has had a nice start to 2014. Spot gold is up about 4 percent in January, even against the backdrop of the U.S. Federal Reserve starting to taper its massive monetary stimulus package known as quantitative easing. Many analysts figured that the slowing of stimulus would strengthen the U.S. dollar and gold would continue to languish as it did throughout 2013.
This has been good news for the Toronto stock markets, especially the resource heavy Venture Exchange, which posted gains in four straight weeks before sliding back some last week. The last two months have also been great for Scorpio Gold Corp. (TSX-Venture:SGN), with shares rising from 14 cents at the beginning of December to highs of 29 cents this month.
The Vancouver based miner has a 70-percent interest in the producing Mineral Ridge open-pit and heap leaching gold mining operation in Esmeralda County, Nevada. Scorpio is currently entitled to 80-percent of the cash generated at the project. The company also has 100-percent rights to the Goldwedge property, an advanced-stage exploration project with a processing facility in Manhattan, Nevada.
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