Monday, April 25, 2011

Latin American Minerals Goes Gold Digging

Latin American Minerals is a long-shot exploratory gold play.  It's drilling for gold and other minerals in fairly unexplored areas in Paraguay and Argentina that bear geological similarities to producing properties elsewhere.  Several of their top execs have exploratory experience, which is of course nice to have in an exploration-focused company. 

Photos of the company's Paso Yobai site look interesting from an exploration standpoint, but profitable extraction is of course another story.  Visible gold mineralization at the surface implies heap leaching will meet with success, provided local environmental considerations are amenable. 

The hard part to review here is the paucity of financial data.  A company that's been active since 2003 should have some financial results as well as geological results.  Searching Yahoo Finance and Reuters reveals no financial data or even analyst coverage.  Shareholders can only hope that LAM.V shows enough exploratory promise to interest a major producer someday. 

Full disclosure:  No position in LAT.V at this time.