SOURCE: Century Capital Research

June 28, 2012 08:00 ET

South America Seeing an Explosion in Mining Activity

NOTE TO EDITORS: The Following Is a News Alert Issued by Century Capital Research

NEW YORK, NY--(Marketwire - Jun 28, 2012) - A BBC News article titled "South America Sees New Gold Rush" states, "Since the start of the global economic crisis in 2008, gold has risen in price by 100%, and in South America production of this precious metal is booming," and "The new gold rush in South America has attracted regional and international mining companies. With the latest technology and huge investment, they are reopening mines abandoned long ago." Mining companies that are active in South America are Newmont Mining (NEM), Andean American Gold (AAG), and The Graystone Company (PINKSHEETS: GYST).

Despite the recent drop in prices, some banks remain certain that bullion will soar once again. The Royal Bank of Scotland told Bloomberg News (via the Globe and Mail) Friday that gold will climb to $1,800 by the fourth quarter. This will be good for gold producers globally, but especially for emerging and still developing mining countries like Peru, Colombia and Brazil.

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