Taylor says Magellen is top pick for 2010

2009-12-17 21:31 ET - In the News

Jay Taylor in the Nov. 20, 2009, edition of Gold, Energy & Tech Stocks tells readers to buy Magellan Minerals Ltd., recently $1.03. Mr. Taylor said buy on April 14, 2009, at 65 cents. A $1,000 investment at 65 cents is now worth $1,584. Mr. Taylor thinks Magellan's near-surface gold prospects in Brazil have a good chance of hosting a large amount of gold. The newsletter writer notes the company plans to acquire a producing gold mine and mill in Brazil, which should provide cash flows to explore its other Brazilian properties. He says assuming due diligence works out, the new mine could produce over 10,000 ounces of gold in 2010. Mr. Taylor says thanks to Magellan's "highly regarded" chief executive officer, Alan Carter, the company has some large gold mining companies interested in joint venture opportunities with Magellan. This stock is Mr. Taylor's top pick for 2010. Elsewhere in the newsletter, Mr. Taylor says Wall Street salesmen are talking up the economy, saying the worst is over. He says they point to a rising GDP and suggest that it is here to stay. Mr. Taylor notes most of the improvement in the GDP has come from government spending, not an improving economy.