Tuesday, April 10, 2012

Brigus Ready for a Breakout

BIG news out of the Brigus Gold camp today. I guess there was a good reason for all that recent insider buying!

"Brigus Reports 26.83 Grams Per Tonne Gold Over 15.50 Metres at the Contact Zone on the Black Fox Complex.

The initial resource estimate for the Contact and 147 zones, as released in December 2011, added more than 50 percent to the gold resource at the Black Fox Complex. Exploration drilling at the Black Fox Complex is progressing as planned with four drill rigs and an updated resource estimate on the Contact and 147 zones will be released in 2012."


"Brigus Gold Corp's (BRD.TO) first-quarter production touched the top end of its guidance, helped by robust output at its Black Fox mine in Ontario and the gold producer said it expects costs to be lower than its earlier forecast.
The company still sees gold production of 77,000 ounces to 85,000 ounces in the year.
Cash costs, which are estimated at $775-$825 per ounce, are likely to drop to about $700 per ounce in 2013, the company said in a statement."

If this doesn't bump the shares up, I don't know what will. This stock should be trading AT LEAST over $1 a share right now...

I am long BRD.

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