Junior Gold companies

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Chart courtesy of http://stockcharts.com

Trying to identify junior miners with exciting gold projects, I return to Western Goldfields (mentioned on this blog the August 2nd) whose stocks have commenced trading yesterday on the Toronto Stock Exchange under the symbol WGI. They are already listed on the Nasdaq OTB BB (symbol WGDF.OB).

Western Goldfields recently completed the Feasibility Study on the expansion of operations at the Mesquite Mine (located in Imperial County, California), which indicated proven and probable reserves of 2.36 million ounces of Gold.

The company estimates average annual production of 165,000 ounces, beginning in April 2008, with an initial project life of 9 ½ years. Nevertheless, there is excellent potential to increase the resources beyond the current estimates.