Taylor Picks NGG to Double
Taylor says buy New Guinea, could double
2007-09-07 20:20 ET - In the News
Jay Taylor in the Aug. 15, 2007, edition of Gold & Technology Stocks tells readers to buy New Guinea Gold Corp., recently 39 cents. Mr. Taylor said buy three times between September, 2005, and September, 2006, at prices ranging from 19 cents to 44 cents. He said sell half on April 16, 2007, at 70 cents. Assuming a $1,000 investment for each buy, selling half at 70 cents would have yielded a profit of $1,959. The remaining $1,500 investment is now worth $1,982. New Guinea Gold put its Sinivit gold mine in Papua New Guinea into production on July 6, 2007. The company expects to produce roughly 35,000 ounces gold per year from the mine, beginning in October, 2007. New Guinea also has two other advanced-stage gold projects that it expects to bring into production. Mr. Taylor says New Guinea is a favourite of his and he believes the stock could double or more over the next year.