Gold miner soars on joint venture news
Gold World Resources (TSX: V.GDW) announced Monday that it has received government approval to establish a Chinese joint venture company for the exploration of gold and silver deposits including the Ming gold/silver property in Hebei, China. The “Certificate of Approval for Establishment of Enterprises with Foreign Investment in the People’s Republic of China”, issued by the Hebei Provincial Bureau of Commerce, allows Toronto-based Gold World Resources and the Shijiazhuang Comprehensive Geological Brigade of Hebei Geological Bureau to enter into a cooperative 70%/30% joint venture to be known as the “Hebei Ming Yu Mining Company Limited”. Successful renegotiation resulted in a reduced threshold registered capital requirement, and the company now can acquire its 70% by spending US$178,393 over six months as compared to US$1.7 million over 18 months. Shares of Gold World soared 33% to four cents.
jay
A crucial question for prospective mining investors is: What constitutes value? The Stock Research Portal says: “Value at a given point in time is the present value of all future expectations. Determining the present value of the prospective after-tax free cash flows for a gold producer (or any other company) is in my view the most reliable valuation methodology.” Via Stock Research Portal
March 19th, 2009 at 9:11 am