As the printing and spending of the U.S. dollar continues, driving its value into the ground, many analysts predict a rally in gold that could soon double gains. As the word inflation is tossed around in financial columns here and there, gold prices tend to rise quickly.
Getting in on the trading action is one thing, being behind the scenes to mine this precious metal out of the ground is another. Gold mining company Trilliant Exploration Corp. today announced it has completed its previously announced acquisition of Muluncaygold Corp. S.A., which will allow Trilliant to launch exploration programs on Muluncaygoldâ€™s seven mining properties and concessions in Acapamba, Equador.
William Lieberman, president of Trilliant, said Ecuador is an ideal location for gold mining.
“We are pleased to close the acquisition of Muluncaygold,” Lieberman stated in the press release. “We see the development of Ecuador and the recent changes in mining laws to be very beneficial for developing industrial-scale mining in the Muluncay region and throughout the country. Ecuador is the last untapped resource in Latin America and we expect the country to play a major role in the future of gold mining.”
Muluncaygoldâ€™s fully operational gold mine operates at 30 tons per day; the concessions are leased for a 30-year term from the government of Ecuador, and according to the press release, are located in a region said to have produced 4.5 million ounces of gold since 1905.