5 Standalone Projects in West Africa in Mali and Ghana
Intial Inferred Resource of 540,00 to 750,000 Ounces of Gold, Kobada, Mali
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African Gold Group > Message
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Why AGG dropped monday

Posted by: profittaker on May 13, 2008 08:58PM

Apparently Doug Casey released an article stating there was a rumour that Ghana was considering changing its tax regime similar to Equador. Subsequently gold plays in Ghana (AGG, KGN, & GSC ect) have been a little beaten since as some that subscribe to his newsletter sold. Keep in mind this is just a rumour and will most likely turn out false. The drop in the price of gold is also a cause of the dropping price in this stock but I expect gold to rebound well as its value is tied to the price of oil and US inflation(both of which are looking strong). These may be hard times but this stock has wonderful fundamentals and is a Sprott top gold pick so hold on to those shares. We will see better times.
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