Wednesday, October 26, 2011

Gold Majors are Starting to Act on Their Need for Gold Assets

With Iamgold's taking a 20% piece of Columbia Crest Gold the move to acquire assets has started IMO.

The search for good Juniors has started!

My favorite is New Carolin Gold Corp. - a new old mine which closed soon after opening just after the 1982 peak in gold because they were too late to the party. Now t.hat is not the case—timing is everything. (PSSSST this is the time =])

Here is the news:

Iamgold investing $3.42M in Colombia Crest Gold

Iamgold Corp., a Toronto-based gold mining company, will pay $3.42 million for a nearly 20 percent stake in Colombia Crest Gold Corp.

Hans Rasmussen, CEO of Colombia Crest Gold, said the investment by Iamgold underscores "the potential for a near-term exploration success once we drill the recently discovered Arabia porphyry target."

Read more here

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