It’s been a house of pain for investors in the worst performing gold stocks on our list today
SmallCapPower | October 27, 2017: Today we feature the four worst performing gold stocks so far in 2017. Highlights from this list include Anfield Gold Corp, which announced a business combination with Trek Mining and NewCastle Gold, to form Equinox Gold. The combination was announced following a significant decline in Anfield’s stock price during 2017.
Asanko Gold Inc is a Canada-based gold producer with operations in Africa. The Company’s Asanko Gold Mine is located in Ghana, and comprises two large deposits (Nkran and Esaase) and several satellite deposits. Furthermore, the Company has significant land concessions in the Asankrangwa Gold Belt, where it is conducting exploration activities.
Anfield Gold Corp is a Canada-based exploration company. Currently, Anfield Gold is focused on the development of its Coringa gold project in Brazil. On October 25, the Company announced a business combination with Trek Mining and NewCastle Gold. The companies expect the combined group to be named Equinox Gold. Shareholders of Anfield will receive 0.407 shares of Trek in exchange for each share of Anfield.
Eldorado Gold Corporation is a Canada-based producer with operations in Europe, North America and South America. The Company’s four producing mines are located Turkey, Brazil and Greece. Furthermore, Eldorado has six projects in the exploration and development stage located in Greece, Romania, Canada and Brazil. Eldorado’s stock price fell significantly following the announcement of a reduced guidance for the year.
TMAC Resources Inc is a Canada-based gold producer. TMAC’s flagship asset, the Hope Bay Mine, sits on an 1,100-square kilometer property located in Nunavut, Canada. Development at the mine was completed earlier this year and the mine began producing in May 2017.
Market Cap: $585 Million
YTD Total Return: -54.6%
Free Cash Flow (last quarter): -$22 Million
Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own units in any of the companies mentioned above.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.