SARASOTA, Fla., Oct. 15, 2004 (PRIMEZONE) -- The following is an investment opinion issued by eLocity Inc.:
Galaxy Minerals (OTCBB:GAXY), Pan American Silver Corp. (Nasdaq:PAAS) and ROYAL GOLD, INC. (Nasdaq:RGLD).
On the OTCBB;
Galaxy Minerals (OTCBB:GAXY). Galaxy announced after the closing bell Wednesday "that it has taken a large step toward production at its Yellow Jacket Mine Property in Santa Cruz County, Arizona. As recently stated by the Company, Galaxy now intends to complete pre-production planning at the Yellow Jacket Project, with Phase III commencing immediately."
Operations Director Bruce Oettel stated, "Phase III Operations on the Yellow Jacket Mine looks to be exciting as the data gathered to date has been very encouraging. It is anticipated that the coarse gold found in recent assays may be in evidence throughout the workings. With this infusion of cash, we will get to the point of pre-production faster."
GAXY is currently trading at around .55 a share today, up 0.04 (7.84%)
On the Nasdaq;
Pan American Silver Corp. (Nasdaq:PAAS)
Pan American Silver Corp. was trading over 50 cents higher early Friday, after announcing Thursday that it will announce its third quarter financial and operating results before market open on Monday, November 1.
The Company said it will then host a conference call to discuss the results at 11:00 a.m. Pacific time, 2:00 p.m. Eastern time, on the same day.
ROYAL GOLD, INC. (Nasdaq:RGLD)
Royal Gold Inc., a precious metals royalty company, traded at an intra-day high of $15.76 Friday morning, after announcing Thursday that it has signed agreements, in a three part transaction, adding a new revenue stream to its royalty portfolio providing a total of $8.5 million to Revett Silver Company and its wholly-owned subsidiary, Genesis Inc. for two royalty interests and shares of Revett. Revett said it will use the proceeds to re-open the Troy underground mine, with production at the Troy mine expected to begin in late 2004.
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The newsletter is provided by eLocity Inc., an electronic broadcaster and publisher of this newsletter, is here after referred to as "the company". The company received compensation for newsletter services for Galaxy Minerals, (Public Company). The compensation is forty thousand dollars from a non-affiliated third party Knights Bridge Capital Corp. Because the company received compensation for its services, there is an inherent conflict of interest in the company statements and opinions and such statements and opinions cannot be considered independent.
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