Shares of gold miners were among the biggest gainers on Friday, as the record price of gold and hovering speculation of a potential double-dip weighed heavily on investor consciousness. Slowing, global economic growth and the potential for European debt contagion have kept investors on edge, allowing gold to far surpass expectations. The rising potential for gold to stay high a long term basis has been having a positive impact on shares of gold miners who will be in higher demand from investors seeking out a safe haven during uncertain economic times.
On Friday morning alone, gold miners were higher by three percent. They represent a less expensive way to play the gold trend as the mineral itself becomes increasingly pricy. Gold miners are likely to follow the metal’s strong trajectory in the coming months should demand sustain itself as many are projecting.
This could offer a potential boon to Samaranta Mining Corporation (SAX.TSXV), which announced promising results from its 501 line kilometer Helicopter Magnetometer and Gamma Spectrometer survey on four of their properties recently. The survey yielded several areas of interest, including their Guadalupe property in Colombia.
The data, while still raw and unfiltered, prompted a preliminary surface investigation of select areas of interest and other targets. Existing data is being processed in an effort to identify anomalies which may represent massive sulphide mineralization. Should the mineralization exist, Samaranta’s properties have the potential to drive massive profits, especially during a economic uncertainty like this one.
Samaranta is in the early stages of an aggressive diamond drill program of the most prospective targets that will reveal further data regarding the company’s profit potential.
Dr. Volkmar Hable, President and CEO of Samaranta, is eager to see the interpretation of the airborne survey and how it fits with the known mineralization at Frontino. Hable has confidence in the property’s contents on the basis that the adjoining property has been mined for over 150 years while Guadalupe is being investigated for the first time.
Should Guadalupe prove ripe for mining as Hable predicts it would directly and positively impact the share prices of Samaranta.