By Dave Porter
Laptop Battery Flush with cash and a resent Toronto Stock Exchange listing, Vancouver-based Gateway Gold reported positive results Wednesday on its Big Springs claims in Nevada.Visit our AXcess News Forum and add your comments on this story. Try your hand at writing, the best story will be published on our news network. Take our mining poll too!
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Microsoft July 21, 2004 (AXcess News) Vancouver BC - Flush with cash and a resent Toronto Stock Exchange listing, Vancouver-based Gateway Gold (TSX: GTQ) reported positive results Wednesday on its Big Springs claims in Nevada.
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Laptop Computers Gateway founder and Chairman, Archie Nesbitt, said in a telephone interview Wednesday morning that the company had remained quiet for seven months and was planning to accelerate their drilling program on its Nevada properties.
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Laptop Computer Gateway, which had been listed on the TSX Venture Exchange, moved up to the Toronto Stock Exchange on June 29, 2004, which Nesbitt phrased as a "nonevent", in that the company's gold properties were foremost.
Desktop Computer For investors, Gateway's listing to the Toronto Stock Exchange is anything but a "nonevent"Throughout the world, the Toronto Stock Exchange is known as the premier exchange for growing mining companies as they progress from "juniors" to the major leagues - and the TSX is a major as it gets for gold. Advertisement
Notebooks The Toronto investment banking community knows gold and which companies are worth backing. In Gateway's case, to have raised over C$12 million and listed to the TSX is an event for investors worldwide who follow gold stocks and with Wednesday's announced drill results, gold bugs might want to watch this stock.
Lenovo Wednesday's announcement on its Big Springs property showed promise, coming in at 0.182 ounces of gold per ton in drill hole GW04-55. Two other targets showed even more potential. Gateway President, Michael McInnis, commented on those targets saying, "Hole 55 is within the 701 target and is 80 feet away from GW03-12 which encountered 65 feet grading 0.27 ounces per ton, including 25 feet grading 0.43 ounces per ton. We're excited about the 701 target and the adjacent 601 target."
Hard Drive Gateway Gold (TSX: GTQ) hit a high of C$1.90 in early trading with the last sale at C$1.75, down 10 cents, or 5.41 percent, at 3:38pm ET Wednesday.
Travelstar Trading near its 52-week lo of C$1.32, Gateway Gold's shares are showing stronger values following today's news on its Big Springs drilling results, though average trading volume is low. Today, over 92,483 shares had traded hands with 30 minutes left to the closing bell.AXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking news. If you're not a member, consider joining now. Members get the latest business news, commentaries and stock picks delivered right to their in-box.
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