ATLANTA, Sept. 12, 2007 (PRIME NEWSWIRE) -- Kimberly Gold Mines (Pink Sheets:KMGM) was formed seven years ago by the same group that built Sterling Mining (OTCBB:SRLM), went public at a nickel, and has traded as high as $2.75. KMGM President, Kevin Shiell, is one of the most respected mining men in the area. This is not your typical combination for a $0.25 gold stock. In fact, KMGM Management has the production exploration and financial experience of a caliber typically found at much larger companies.
Kimberly Gold Mines, Inc. is intent on becoming a gold producer, from high-quality projects in the Pacific Northwest, with multi-million ounce potential. KMGM controls the Rescue and Kimberly Gold Mines in central Idaho, the Matthews and Compton properties in the Wenatchee Gold Belt of central Washington, the Empire Creek Project, and the Camacho Concession in Zacatecas, Mexico. KMGM has a 43-101 Report covering Rescue, Kimberly and the Wenatchee Gold Belt. The Rescue Mine already has a 120 ton per day mill, extensive mining equipment, a new mill building, and electrical power on site. The company recently ordered equipment capable of processing ore from both the Rescue and Kimberly mines, which, once in operation, will be the basis for a feasibility study leading to commencement of full production. Kimberly is in the process of expanding its land position by acquiring the 174-acre Silver King Mine property near the company's Rescue Mine. According to historical records the Silver King property produced an unknown quantity of high-grade gold and silver in the early 1900s.
KMGM stock is tightly-held, with approximately 21 million shares issued and a market cap of only $5.25 million. Keep in mind that seven years ago when KMGM was a nickel, gold, which is $662.00 an ounce today, was trading for $275.00 an ounce. After reading the rest of this report, you will probably agree with us that KMGM is worth many times more than the $5.25 million market cap it is trading for. In our opinion, we think investors can buy KMGM at these levels, take some money off of the table at higher prices, and own the balance of their shares for no, or a reduced, cost basis.
The complete report on Kimberly Gold Mines is available at http://www.otcstockreview.com/Files/KMGM/KMGM_Review.pdf
Additionally, more information on Kimberly Gold Mines is available at http://www.kimberlygold.com.
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