IRVINE, Calif., March 19, 2008 (PRIME NEWSWIRE) -- "Yesterday's announcement that the Federal Reserve cut the fed funds rate by three-quarters of a percentage point should be interpreted as another bullish sign for gold and gold companies," stated SmallCap Sentinel analyst D.R. Clark. "Historically, rate cuts have signaled a rise in the price of gold, and gold enthusiasts were eagerly waiting for this news. Of course, despite gold's stellar charge to $1,000, it's still far short of the 1980 high which is equivalent to $2,119.30 an ounce at inflation adjusted 2007 prices, according to precious metals consultancy GFMS Ltd. And as this is occurring, savvy small cap gold companies like Colorado Goldfields (OTCBB:CGFI) are betting on their own soil with the purchase of underground drills, parts and supplemental equipment for its Silverton, CO operations."
A report focusing on emerging gold equities has been made available at http://www.liquidstockreport.com and will address the rise of gold affecting equities including Barrick Gold (NYSE:ABX), Goldcorp (NYSE:GG), Yamana Gold (NYSE:AUY), and Colorado Goldfields.
Colorado Goldfields Inc. is a Colorado-based exploration and mine development company with three past producing gold and base metals mines and a modern ore processing facility in Colorado's historically prolific Silverton mining district. Colorado Goldfields is going back into advanced-stage, historically productive properties with significant exploration potential and applying modern geophysics and leading edge exploration tools to re-establish production and expand the resource base. Colorado Goldfields has acquired the option to earn an 80% interest in three gold and base metals mines -- the Gold King, Mogul and Mayflower.
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