For those who did not receive this:
Castle Gold will be attending the Jan 25th & 26th Vancouver Resource Investor Conference, booth number 613.
If you're in Vancouver please drop by to see us. Thomas Atkins, President and CEO will be presenting at 11:30am at Workshop 2 on Sunday the 25th. http://www.cambridgehouse.ca/ch_jan2...
Some interesting points as we head into the conference:
London based GFMS (Gold Field Mineral Services) sees gold averaging $915/oz in the first half, detailed in its 2009 gold survey.
"The price of gold could revisit its record high above $1,000 an ounce by the end of June as government fiscal efforts undermine the greenback and set the stage for a sharp run-up in inflation, precious metals"
GFMS expects the price of gold to average $915 an ounce in the first half of 2009, up from last year's average of $871.96
"Gold demand should stay relatively flat in the first half of 2009 following a 4.1 percent drop last year"
"Looking ahead, the global credit crises will have a pronounced negative impact on project finance and development, most markedly among the junior developers that do not have established cash flow to support project finance programs"
"Overall gold supply is seen dropping 0.67 percent in the first half of 2009 to 1,888 tonnes, as a 2.6 percent gain in mine production is offset by a 23.4 percent drop in central bank sales"
"Massive debt taken on by the US government could force the Fed to turn to 'quantitative easing' - essentially printing money to cover the debt - which will further boost money supply, and prompt investors to turn to gold as a hedge against inflation"
"As Investors start to focus on the likely consequences of this policy, gold will almost certainly benefit handsomely, especially as some of the alternatives to American government debt and the dollar, such as the euro and yen, face their own issues"
2009 Castle Gold Highlights:
10 year mine life on 750,000 ounce proven and probable reserve at Company's 100% owned El Castillo open pit, heap leach oxide gold mine, Durango, Mexico.
Increasing annual gold production at Castillo from 25,000 oz (current) to +50,000 oz at El Castillo by H2/09.
Reduce cash cost with expansion to below $400/oz to produce annual cash flow of +$15 million at US$800/oz gold.
Growing gold resources at El Castillo and Company's 100% owned La Fortuna gold-silver-copper development project, also located in Durango Mexico.
Continue to evaluate Mexican gold industry consolidation opportunities.
Current market cap is equal to just over 1.5 times forecasted annual cash flow.
Thomas Atkins, President and CEO of Castle Gold will be at the conference. If you're not aware of him, his bio is as follows:
Thomas Atkins, President and CEO of Castle Gold
Tom joined Castle Gold in June 2008. He had previous success raising $110M in capital as President and CEO of Crowflight Minerals to finance the construction of Crowflight's Bucko Lake nickel mine and explore its portfolio of exploration projects. Prior to joining Crowflight, Mr. Atkins held executive positions with IAMGold and Boliden. Mr. Atkins has 24 years industry experience including: mineral exploration and mine development, investment and corporate banking, investor relations and corporate development. He holds a BSc Geology (McMaster University - 84) and a MBA (Ivey Business School - 88).
Rory Quinn
Manager Investor & Public Relations
Castle gold corporation
O: 416 214 4809
E: info@castlegoldcorp.com
