Gold American Mining Corp. (
SILA.OB) is a publicly traded precious metals exploration company focused on the aggressive, ongoing acquisition and exploration of holdings with rich gold and silver production potential. Based in Reno, Nevada, Gold American has developed a promising portfolio of international properties in regions marked by stable politics, sound economies and friendly business relations.The Company recently entered into a $7.5 million equity financing agreement with a European institutional investment group that specializes in backing precious metals and mining ventures.
SILA reported they received funds in the amount of $300,000 in virtue of this agreement and that
SILA still has a balance of $7.2 million that
SILA could call upon to fund their exploration and acquisition strategy. During 2010,
SILA have received total equity subscription proceeds of $500,000.
SILA 1 Month ChartLast: $0.900Change: +0.050 (5.88%) The funding will be utilized by Gold American in its ongoing acquisition strategy and specifically in the further exploration and development of its existing Keeno Strike Property in Nevada, which could potentially contain ~1.1 million ounces of gold and ~69.0 million ounces of silver accessible via open-pit bulk handling methods, and its Guadalupe Property in Mexico, which is located approximately 5 miles north of the world`s richest underground silver mine, operated by the +$10 billion London Stock Exchange-traded company, Fresnillo plc."During the first half of this year, Gold American has raised $500,000 in equity financing without incurring any debt. These funds have helped the Company fuel its FY2010 exploration program and added to its working capital," stated Johannes Petersen, President of Gold American. "With the existing equity agreement in place, the Company is well-positioned to take advantage of improved global financial and commodity market conditions," added Mr. Petersen.For more information about this company please visit http://www.gold-american.com/ THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!Release of Liability: Through use of this website viewing or using, you agree to hold crweselect.com stock report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. Disclaimer: Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list.
See CRWE Select's website for full disclaimer. CRWE Select may have received compensation for stock picks.
Home
