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Thursday, October 21, 2010

Amarillo Gold (TSX.V:AGC), Goldgroup (TSX:GGA) (OTC:GGAZF) Otis Gold (OTC:OGLDF) All Undervalued Junior Gold Miners

In an interview with 'The Gold Report,' the author of The Mercenary Geologist newsletter, Mickey Fulp, said he considers most junior miners overvalued, but some like Amarillo Gold Corp. (TSX.V:AGC), Goldgroup Mining Inc. (TSX:GGA)(OTC:GGAZF.PK) Otis Gold Corp. (TSX:OOO) (OTCBB:OGLDF) remain undervalued.

He likes Amarillo Gold because two of its projects have over 1.5 million ounces of "43-101 qualified resources."

Since going public, he cites 14 of the 15 months Goldgroup Mining Inc. via its Cerro Colorado mine, have positive cash flow. He basis his assessment of them being undervalued on " per-ounce-in-the-ground valuation." They also have two advanced exploration projects with resources: Caballo Blanco in southeast Mexico and San Jose de Gracia in western Mexico, said Fulp.

Last, when measured on a per-ounce basis against the overall peer group they compete against, Otis Gold Corp. is undervalued. They have the Kilgore project in Idaho, and are continuing to drill and enlarge another resource.

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