NEW YORK, NY -- (Marketwire) -- 01/03/12 -- Gold mining stocks have come under significant pressure in recent months amid widespread weakness in precious metals. According to the Associated Press much of the decline in gold can be blamed on questions about Europe's efforts to resolve its sovereign debt crisis and what the impact on the global economy will be. A slowdown in growth in China has also been a factor. The Paragon Report examines the outlook for companies in the Gold industry and provides equity research on Rubicon Minerals Corporation (NYSE Amex: RBY) (TSX: RMX) and US Gold Corporation (NYSE: UXG) (TSX: UXG). Access to the full company reports can be found at:
www.paragonreport.com/RBY
www.paragonreport.com/UXG
While gold has been in a tailspin during the final months of the year, the yellow metal continued an 11-year winning streak. Gold prices finished 2011 at $1,566.80, representing a 9.3 percent annual increase. While gold prices managed to post gains last year, the Market Vectors Gold Miners ETF (GDX) posted a massive 15 percent loss in December alone. In late December the GDX reached its lowest level since August 25, 2010.
The Paragon Report provides investors with an excellent first step in their due diligence by providing daily trading ideas, and consolidating the public information available on them. For more investment research on the gold industry register with us free at www.paragonreport.com and get exclusive access to our numerous stock reports and industry newsletters.
US Gold Corporation engages in the exploration for, development of, production, and sale of gold, silver, and other precious metals. It holds interests in various properties located in the state of Nevada, as well as in Mexico. Last month the company announced that Minera Andes has been granted an interim order by the Court of Queen's Bench (Alberta), authorizing the holding of a special meeting of Minera Andes shareholders. US Gold and Minera Andes entered into a definitive arrangement agreement on September 22, 2011, wherein each Minera Andes shareholder would receive 0.45 of a share exchangeable into a US Gold share for every one Minera Andes share held.
Rubicon Minerals Corporation is an exploration and development company, focused on exploring and developing its high-grade gold discovery at its Phoenix Gold Project in Red Lake, Ontario. According to Rubicon, the company is carrying out a 12-month, $55 million program designed to complete sufficient exploration and development work to attain its objective of production in Q4 2013.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at http://www.paragonreport.com/disclaimer
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