Insiders Go for Ghanese Gold Play Called Golden Star; Plus Updates on Three Energy Stocks
By Michael BrushExclusively for InvestorIdeas.comOctober 05, 2006
If you are a gold bug why should you be praying for rain in Ghana? Because water reservoirs are low in this West African country, and that’s cut electrical power which has forced gold mining companies to reduce production.
advertisement That’s one reason investors who hold Golden Star Resources (GSS) have been in pain of late. Tiny Golden Star holds large chunks of land it what’s known as the Ashanti Trend in Ghana, a region long known for its abundant gold resources. From recent highs above $3.75 in May, Golden Star has tanked to below $2.50 – a 33% decline.
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