Record high gold prices have fuelled investment in gold mining and exploration around the world. This is particularly true in the case of the Yukon region which is home to some of the largest gold miners.
A Wealth Daily article says recent months have witnessed a surge in exploration investment. The investment drive has beaten seasonal records, drawing market optimism from the unprecedented gold rally.
In a typical year, only about $20 million is spent exploring for gold in the Yukon. Now that the price of gold is breaking record highs, about $100 million is spent in an average year, the report says.
And the curious thing is that this high will be breached this summer. The Yukon Geological Survey has said around $350 million will be spent for work programs and drilling this summer in the region.
Wealth Daily analyst Greg McCoach took a cursory glance into the hottest gold stocks, going the investment yardstick. Here is a peek into his analysis.
Selwyn Resources (TSX-V: SWN) and Colorado Resources (TSX-V: CXO)
Selwyn is in focus as it announced an equity financing of up to $15.0 million, while Colorado Resources (TSX-V: CXO) hiked their bought deal financing to $12.3 million.
Kaminak Gold (TSX-V: KAM)
Kaminak started 100%-owned Coffee Gold Project, located in the White Gold District in the Yukon Territory.
Golden Predator (TSX: GPD)
Golden Predator announce final assay results from its winter 2011 diamond drilling campaign, which was designed to expand the recently discovered Bohemian Zone at the company’s Brewery Creek project, says the report.