WESTON, Fla., June 23, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: West Africa Gold Inc. (OTCBB:WAGI), TASER International Inc. (Nasdaq:TASR), Digital Recorders Inc. (Nasdaq:TBUS) and Galyan's Trading Company (Nasdaq:GLYN).
Aggressive investors and traders may want to begin monitoring -- West Africa Gold Inc. (OTCBB:WAGI) this morning! Yesterday, the company issued a press release announcing that it has entered into a Letter of Intent to acquire additional and extremely promising gold mining properties, these properties being situated in Arizona, USA!
This is exciting news for the company and for investors! The first North American Gold acquisition by the company is Golden Sierra Limited, which owns the Mineral Rights to the Mockingbird and Great West Gold Project areas in Arizona, USA and comprises 4 claim groups spread over 2,500 acres in Mohave County. Previous summary sampling mineral deposits have been inferred at 10 million tons with Gold grades of 0.1 opt with additional resources of silver and copper. Underground operations and an open pit have previously been established with initial assay results and informal sampling, confirming widespread surface gold mineralization, some of which is high grade (2oz/T) Gold.
Richard Axtell, the President of West Africa Gold said today, that he was delighted with the company's expansion into North America and with the quality of the Gold assets being acquired after such an extensive due diligence process. "This acquisition will be of enormous benefit to the company's shareholders as it has resulted in West Africa Gold Inc. becoming a Gold Company, which now operates on two continents and has considerably increased the company's value and its prospects. The company's attraction to Institutional Investors has been greatly enhanced by this acquisition, which we hope is the first of several in the coming year."
Keep your eyes on this company! Detailed announcements in respect of the prospects and value of these additional Gold Mining Properties will be made in due course. The final Agreements in respect of this acquisition are expected to be signed this week.
The stock closed yesterday between ten and eleven cents a share.
In case you are not familiar with the company: West Africa Gold (http://www.westafricagold.com/) is an aggressive gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in various regions of the Republic of Mali and now in North America.
Stocks showing interesting activity yesterday at the close of the regular trading day were: TASER International Inc. (Nasdaq:TASR) down 3.1% on 6.4 million shares traded, Digital Recorders Inc. (Nasdaq:TBUS) up 12.9% on 7.9 million shares traded and Galyan's Trading Company (Nasdaq:GLYN) up 50.2% on 9.9 million shares traded.
Commentary:
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