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i am liking this stock alot right now its just getting ready to breakout...check out the charts..its a gold play...good volume lately and breaking out...nice and slow
slow and stready gains are always the best!
-------------------- please dont trade stocks on my alerts, do your dd first.
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GSPG..GOLD, BOTTOM PLAYER, NEWS...Today, GoldSpring, Inc. (OTCBB: GSPG) reported in a press release results from the Plum Mine operation for the quarter ended March 31, 2006. The Plum Mine realized a first time ever net profit of $52,030 for the first quarter 2006, compared to a loss of $817,630 for the first quarter 2005.
this one is going to blow real soon...GREAT NEWS!
-------------------- please dont trade stocks on my alerts, do your dd first.
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May 15, 2006 (M2 PRESSWIRE via COMTEX News Network) --
GoldSpring, Inc (OTCBB:GSPG), is a company that our research team will be tracking over the ensuing weeks. They recently came out with a significant corporate development, causing a market stir. The BWR Research Team will continue to bring its subscribers cutting edge research tools, and second to none customer service.
GoldSpring, Inc a North American precious metals mining company with an operating gold and silver mine in northern Nevada, this morning released results from the Plum Mine operation for the quarter ended March 31, 2006.
The Plum Mine realized a first time ever net profit of $52,030 for the first quarter 2006, compared to a loss of $817,630 for the first quarter 2005. The Company sold 992 ounces of gold at an average price of $542 per ounce during the first quarter of 2006, generating revenue of $537,806. During the same period in 2005, the Company sold 1,192 ounces of gold at an average price of $429 per ounce, generating revenue of $512,091. The Company's ability to achieve profit success is largely due to the efforts of its management to implement its operational improvement plan, as further detailed in this press release.
This first ever profit from first quarter 2006 gold production at the Plum Mine is especially significant as production was hampered by unusually heavy precipitation in northern Nevada from mid-December 2005 through February 2006.
The Plum Mine received fourteen inches of rain between mid-December and the end of February, filling the leach ponds, including the one hundred year storm pond, nearly to capacity. The high levels of effluents in the ponds prevented the Company from adding additional reagents to the leach pads. Because the Company was unable to add new material to the pad and put it under leach, they made the decision to cease mining operations in early-January but continued processing already mined ore. GoldSpring President and CEO, Rob Faber, said, ''Our team at the mine did an excellent job, in a challenging situation, to insure the environmental integrity of our operation.''
The Company hopes to resume normal mining operations by the end of May 2006. The Plum Mine's reclamation, exploration and test mining expenses for the first quarter of 2006 were $843,945 less than for the same period of 2005.
Jim Golden, Goldspring's mining executive, said, ''We are starting to experience the benefits of the operational improvement program that we initiated in 2005. Most recently, we have made the decision to take over our mining operations, which were previously performed by an outside contractor. We plan to have our mining operation in place by the end of May 2006. Based on our mine plan and internal calculations, we anticipate that taking over the mining operations will reduce our gold production costs by $40 per ounce, resulting in a production cost of less than $350 per ounce.'' Over the next two months, the Company will be ramping up gold production and expects monthly production to reach 1,200 ounces of gold by mid-summer 2006.
Jim Golden stated, ''As a result of the ongoing development of the mine plan, the average grade of our ore has increased, further benefiting our results.''
Today shares of GoldSpring have traded up nearly 12% on volume of over 34.4 million shares making It one of the biggest traders on the market. At $0.015, this company is a great value when compared to its 52-week high of $0.1, which it traded at in July 2005. The company made operational improvements back in 2005, and are now seeing the benefits from that, this company has a lot of potential and I fell still has the opportunity to do great things. The BWR Research Team will continue to follow the market sentiment on this company and numerous others.
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posted
Stockguru.com: Guru Alerts for Tuesday, May 16, 2006 CCBEF,BYWD, ITKG, GSPG.
via COMTEX
May 16, 2006 6:58:00 AM
Dallas, Texas, May 16, 2006 (M2 PRESSWIRE via COMTEX News Network) --
GoldSpring, Inc. is an emerging North American precious metals mining company, which was formed in June 2003. In the Company's relatively short history, it has brought a gold and silver project into production, established a solid footprint around its operations in northern Nevada, and acquired mineral rights in Canada. GoldSpring plans to build on this success through the acquisition of mineral properties in North America that can be efficiently put into near-term production. The Company's objectives are to increase reserves, increase production and increase cash flow to maximize return for its shareholders
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GoldSpring Announces Appointment of Jim Golden as COO; Mining Operations Resume at Plum Mine via COMTEX
May 17, 2006
GOLD HILL, Nev., May 17, 2006 (PRIMEZONE via COMTEX News Network) --
GoldSpring, Inc. (OTCBB:GSPG) announced today that Jim Golden, licensed mining engineer, has been appointed Chief Operating Officer. In November 2005, GoldSpring retained Mr. Golden to conduct a comprehensive review of all aspects of the Plum Mine operation, including the overall mine plan, with the objective of maximizing efficiency, increasing production, and reducing costs. Mr. Golden assembled a team of professional mining consultants, who are recognized experts in their respective disciplines, to assist in his review of the operation. The Company has been implementing the team's recommendations for the past few months and is starting to recognize the benefits of the operational improvements. Through the implementation of the team's recommendations, the Company recorded its first quarterly profit from operations in the first quarter of 2006.
Mr. Golden has over twenty years of experience in the mining industry, including ten years with Peter Kiewit's mining division, where he was a district manager. A graduate of Montana Tech, Mr. Golden has owned his own consulting firm since 1990, where he has provided consulting services throughout the world for over 50 mining companies. GoldSpring's President and CEO, Rob Faber, said, "We are excited to have Jim Golden as an officer of our Company. Jim brings a wealth of industry experience and professionalism to GoldSpring, and we expect to reap many positive rewards from having him as a member of our team."
GoldSpring also announced that it has resumed drilling and processing operations at the Plum Mine in the last week and mining operations commenced on May 15, 2006. In a joint effort with Mine Development and Associates, the Company has recently completed its mine plan. Within the next six weeks, the Company expects to receive a qualified report measuring its proven and probable reserves. Based on the mine plan and internal calculations, the Company expects to ramp up monthly gold production to 1,200 ounces by mid-summer 2006 and anticipates gold production costs of less than $350 per ounce. Jim Golden stated, "Since last November, we have focused on improving the fundamentals of our operation, and we are now experiencing the positive results of our efforts. The current gold prices make this a unique time for developing mining companies, especially in the United States. We are excited about the possibilities created by this market and look forward to seizing the opportunities available for growth both within and outside the Comstock Lode of Nevada."
GoldSpring, Inc. is a North American precious metals mining company with an operating gold and silver mine in northern Nevada. The Company was formed in mid-2003 and acquired the Plum Mine property in November 2003. In the Company's three years in existence, it has accomplished the following: secured permits, built an infrastructure and brought the Plum Mine project into production. During 2005, the Company sought to expand its business even further by acquiring additional properties around the Plum project in northern Nevada, expanding its footprint and creating additional opportunities for exploration. GoldSpring is an emerging company, looking to continue to expand upon its foundation and success through the acquisition of other mineral properties in North America which have reserves and exploration potential that can be efficiently put into near-term production. The Company's objectives are to increase production and reserves through exploration and acquisitions and expand its footprint at the Plum mine, thereby maximizing Company cash flow and shareholder value.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this communication (as well as information included in oral statements or other written statements made or to be made by Goldspring) contains statements that are "forward-looking," as defined in Section 21E of the Securities Exchange Act, such as statements relating to the future anticipated direction of the high technology and energy industries, plans for future expansion, various business development activities, planned capital expenditures, future funding sources, anticipated sales growth, mining capability and potential contracts. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and, accordingly, such results may differ from those expressed in any forward-looking statements made by or on behalf of Goldspring. These risks and uncertainties include, but are not limited to, those relating to development and expansion activities, dependence on existing management, financial activities, domestic and global economic conditions, changes in federal or state tax laws and market competition factors. These and other factors, which could cause actual results to differ materially, are discussed in more detail in GoldSpring's filings with the Securities and Exchange Commission.
GoldSpring, Inc. P.O. Box 1118 Virginia City, NV 89440 (775) 847-5272 (775) 847-4762, Fax www.goldspring.us Rob Faber, President and CEO (480) 603-5151 rfaber*goldspring.us
(C) 2006 PRIMEZONE, All rights reserved.
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