NEW YORK, NY -- (Marketwire) -- 01/17/12 -- Gold prices have been volatile in recent months as better than expected U.S. economic data has boosted the greenback. While the price of gold has faced several headwinds of late, several mining operators are optimistic gold could make a run in 2012 due to the ongoing accommodative monetary policies across the globe. Five Star Equities examines the outlook for companies in the Gold industry and provides equity research on Brigus Gold Corporation (NYSE Amex: BRD) (TSX: BRD) and Great Basin Gold Ltd. (NYSE Amex: GBG) (TSX: GBG). Access to the full company reports can be found at:
www.fivestarequities.com/BRD
www.fivestarequities.com/GBG
Several mining companies are optimistic that gold prices will have a strong 2012. U.S. Gold Corp Chief Executive Rob McEwen said he expects global financial worries to push gold prices above $2,000 an ounce this year and even higher in the next few years. McEwen also argues that major gold mining companies should increase dividends to attract investors. The former Goldcorp founder believes that shareholders currently are not getting the kind of returns they should expect with the gold price so high.
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Brigus Gold Corp. engages in the extraction, processing, refining, and production of gold and other by-product metals primarily in North America. The company recently announced that its Black Fox Mine is expected to produce between 14,000 and 15,000 ounces in the fourth quarter of 2011. Production is lower than anticipated due to a slower ramp up of underground production and higher than expected dilution in the underground as the Company develops and optimizes mining practices. "Increasing production at Black Fox is our top priority," said Wade Dawe, President and CEO of Brigus.
Great Basin Gold is a mining company engaged in the exploration and development of gold properties. The company recently announced that its Burnstone Mine in South Africa continues "to make good progress in a number of areas," notably in ore development which increased by 29% and in contained gold extracted, which increased by 16% compared to the similar period in the previous quarter.
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