New Technical Report is All American Gold Corp. (AAGC)- New Momentum + Speculative Buy Rating...
New Technical Report is All American Gold Corp. (AAGC)! Make sure you have AAGCimmediately on your watchlist tomorrow morning as the chart continues to build momentum and the technicals switch and run for 2 consecutive days. AAGC set a record today, but the most important part was the 'Speculative Buy Rating from Prime Equity Research, LLC". Before we get into the technical aspect of AAGC, we must focus our attention on that independent report released today.
The independent research firm released news that,"Kipley J. Lytel, CFA and Senior Analyst with New York based Independent Research firm Prime Equity Research, LLC, has initiated research coverage on All American Gold Corp. (AAGC) with a Speculative Buy Rating. The 18 page report details information on the company's business, opportunities and potential. According to analyst Lytel's report: "We Initiate Coverage of All American Gold Corp. with a Speculative Buy rating, based on potential for significant developments with respect to ongoing exploration programs and expected ability to achieve discovery milestones over the next two quarters. AAGC is primarily focused on the acquisition and further advancement proving underlying gold resources of mineral properties in Nevada. The Company has various existing holdings in the gold-rich state of Nevada, a state that mines over 75% of all U.S. gold." For free access to the report and information on Prime Equity Research, LLC please visit the company's website. Interested parties may obtain the report at www.primeequityresearch.com.
Prime Equity Research advises investors to exercise a reasonable degree of due diligence before trading in the equities of any public company, including carefully reading entire analyst reports and report disclosures, and then only in conjunction with advice from a registered financial advisor or broker. Prime Equity Research further advises that any analyst rating, recommendation, target valuation, price target or opinion should be considered merely a portion of an investor's total investigative process." Again this "Specualtive Buy Rating" is their opinions being expressed not ours. <Click here to view full independent report>.
A little over a week ago, AAGC hit a 52 week high of $.94, but a pull back brought down share price to a bottom of $.45 last Thursday. Since then shares have been slowly trending back toward the 52-week high. Today AAGC closed at $.669 or down still a generous -29%! However the reversal or trigger indication for us was the surge in volume today. Volume hit an all time high of over 1 million today, suggesting that smallcap investors are pouring back into this gold company. Looking at technical chart below, we see that AAGC has new momentum and if the chart continues to slowly trend back up, we might see any shorts forced to cover and the next resistance looks to be $.70. If this barrier drops, we may see a full breakout in our opinion. So put AAGC immediately on your radar tomorrow morning!
Now that we have a better picture of the technicals and the recent chatter of AAGC, we have to turn our attention to the very promising news that was just released last week. That "after careful consideration and review of geological information and data from previous works, the company has completed the signing of an option agreement to secure an initial 15% interest in the Iowa Canyon Property in Lander County, Nevada. In consideration for this 15% interest, the company is required to pay a total consideration of $100,000, half of this amount was paid upon signing. An additional option is available to the company to acquire another 25% interest, for a total of 40%, with a $3,000,000 payment 60 days prior to the one year anniversary of the execution of the contract.
The property is located approximately 30 miles southeast of the Cortez Hills deposit and 20 miles from the Cove-McCoy mine at the south end of the Carico Lake Valley. The property is easily accessible via paved highways, gravel roads and dirt roads. Iowa Canyon consists of 155 unpatented mining claims covering approximately 5 square miles. The company has had the opportunity over the past year to evaluate the Iowa Canyon project through a right of first refusal agreement which recently expired. "This project is in a burgeoning area of exploration of Nevada which our company has long had interest in and we are very pleased to have been able to secure this agreement. We feel that the Iowa Canyon project represents a high-quality exploration opportunity having, as of yet, untested potential within several gold and silver bearing targets. We look forward to formulating an aggressive exploration program through the expertise of our technical team. As the property advances, we also feel that it may be of great benefit to the company to have the additional option of aggregating up to a 40% interest in Iowa Canyon.“ Brent Welke, CEO..." <click here to read full news release>.
Again put AAGC immediately on your radar tomorrow morning as we continue to monitor the current technicals and corporate developments!
About All American Gold Corp.:
All American Gold Corporation is a precious mineral exploration company focused on the acquisition and ongoing exploration of mineral property holdings in the United States. The company has spread its holdings across the state of Nevada, diversifying its investment while using the latest technology and geological resources to select properties in the most promising mineral zones. All American Gold Corp. intends to continue to seek out new opportunities through its experienced and proven geological team. Additional information concerning All American Gold Corp’s projects can be found on the company’s website at www.allamericangoldcorp.com.
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