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Update: GoGold Resources Signs LOI To Acquire Tailings Assets Near Its Parral Tailings Project

*Investors looking to buy shares of GoGold Resources should buy shares on the Toronto Stock Exchange where there is more liquidity (TSE: GGD).

GoGold Resources (GLGDF) just announced that it has signed a letter of intent to acquire tailings assets near its newly producing Parral Tailings Mine in the hopes that it will be able to find significant gold and silver mineralization. The company has agreed to pay Promotora De La Industria Chihuahuense $15,000/month in order to drill and explore these tailings assets. If the company chooses it can acquire them in exchange for a 12% NPI royalty that would entitle Promotora to 12% of the profits from that operation.

My bullish thesis on this stock has been predicated on GoGold's aggressive exploration and expansion strategy. With that in mind this is an excellent move. If it succeeds, the company will be acquiring this asset for a price determined by… Read More …