I was watching BNN (the business news network), and I saw the commodities report which features up and coming junior miners in the gold, silver and copper mining sectors. One of the budding superstars that caught my eye was a junior Canadian explorer and now producer of gold. This little fireball is called New Dawn Mining (ND.TO on the TSX), and their main mining operations takes place in their newly opened Turk mine in Zimbabwe.
Since they opened the mine early in March this year, New Dawn has been steadily increasing production of gold bars month over month. And since March '09, their stock price has soared from a measly 5 cents to $1.45 this November '09. So if you bought $1000 worth of ND.TO in March, you would've made about $28,000 in 7 months. Not bad, eh?
But, there's even better news to keep hanging on to this stock. First, New Dawn has no debt, and current production is profitable after all production costs are taken into account. Second, the price of gold will continue to soar due to ideal conditions that will sustain the gold bull run for the next several years. Third, New Dawn is consistently upgrading it's production goals month over month and are exceeding those production goals, month over month. Last, they are also exploring the surrounding region and have found more veins. I'm looking for New Dawn's stock price to hover around $4.50 per share around mid-summer of 2010.
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