WESTON, Fla., Nov. 3, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: Andresmin Gold Corporation (OTCBB:ADGD), Merck & Co., Inc. (NYSE:MRK), StemCells, Inc. (NASDAQ:STEM) and Sun Microsystems, Inc. (NASDAQ:SUNW).
Aggressive investors and traders will be watching Andresmin Gold Corporation (OTCBB:ADGD) this morning! Yesterday after the markets closed, the company issued a press release announcing that it has acquired the rights to explore and develop the Clavella 2 claim block within the northern boundaries of the company's Winicocha Property!
This is great news for investors! The Clavella 2 claim block represents an area previously identified by geophysical testing that Andresmin believes has the potential to host an ore body of significant size. The Clavella 2 claim block was acquired from a private Peruvian mining prospector.
According to the press release, the geophysical anomaly is a very large electrically conductive body with a strong peripheral magnetic zone. This indicates the presence of a large ore body with high electrical conductivity suggesting the presence of gold, copper, and other conductive metals.
This additional claim block adds significant value to the Winicocha Property because it gives Andresmin full and complete access to all areas with development potential!
Investors watch this one! Ian Brodie, the President of Andresmin states, "This is a key addition to the Andresmin portfolio. We are very excited by the potential of the Winicocha Project. This area is the primary focus for our exploration team as we prepare and prioritize drill targets for early 2005!"
The stock closed yesterday at around eighty-one cents a share.
In case you are not familiar with the company: Andresmin is committed to building shareholder value through the acquisition, exploration, and development of high quality mineral projects in the prime Central Andes region of South America, which annually produces 42% of the world's copper (over $18 billion each year). The company has an impressive property portfolio with nine projects of merit encompassing 16,400 hectares of strategically located and highly prospective ground. The Winicocha copper-gold project in southern Peru is Andresmin's flagship project. Centromin reports Winicocha hosts 1.4 million ounces gold, thought to be near surface expression of a much larger underlying copper-gold porphyry deposit. Recent sampling found a geochemical anomaly with grades ranging to 1.0% copper and 5.0 grams per tonne gold, and coincident geophysics has outlined three large anomalies. Exploration is ongoing on all projects.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Merck & Co., Inc. (NYSE:MRK) down 5.2% on 64.1 million shares traded, StemCells, Inc. (NASDAQ:STEM) down 3.9% on 59.6 million shares traded and Sun Microsystems, Inc. (NASDAQ:SUNW) up 0.6% on 32.2 million shares traded.
Commentary:
"How are some companies doing in the last half of 2004? Here is a snapshot: Proctor and Gambel's profits rose 14%, American Express profits were up also 14%, and ExxonMobil and ChevronTexaco saw their profits up amid sky high fuel costs," Stated Mario Cardenas in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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