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GLD - a Canadian junior exploration company that has 100% ownership of 24,355 heactares of mineral claims on the Swayze Greenstone Belt property in Ontario
Friday, September 25, 2009
Author: eResearch
Symbol TSX-V:: GLD
Current Stock Prices (Sept. 24, 2009): $0.09
Sector: Gold and Mining
Company's website: www.augengold.ca
PROFILE:
Augen Gold Corp. ("Augen Gold" or the "Company") is a Canadian junior exploration company that has 100% ownership of 24,355 hectares of mineral claims on the Swayze Greenstone Belt property in Ontario. The Company is focused on confirming and expanding a historic resource of the Jerome Mine that is part of this extensive land package.
COMPANY HIGHLIGHTS
- 100% ownership of an extensive land package (45 kilometer long property) on the Swayze Greenstone Belt.
- Historic resource of 118,326 ounces of gold with expansion potential.
- Financial backing by Augen Capital Corp (TSX-V: AUG), which owns 35.5% of the shares outstanding.
- Undervalued share price trading well below its Book Value.
- Good infrastructure in place on and around the property.
- Experienced management with a proven track record of exploration success.
POTENTIAL RISKS
The price of gold could decline. Augen Gold is a development company with no revenues and is ultimately dependent upon its ability to raise equity. While management is skilled in exploration, success is never guaranteed regardless of potential. Less than 1% of exploration properties make it to production.
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