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RYE, NY–(Marketwire – Apr 27, 2011) – Global Gold Corporation (OTCQB: GBGD) and privately held Consolidated Resources are pleased to announce that on April 27, 2011, they concluded a joint venture agreement to fund and expand production at the Toukhmanuk gold-silver open pit mine in Armenia and further exploration activities for gold and silver at both Toukhmanuk and Getik (the “Properties”). As part of the agreement, Consolidated Resources is providing $5 million in funding over twelve months to support the development of the Properties.
Global Gold, headquartered in the U.S., has been active primarily in gold and silver mining in Armenia since 1995 and has maintained other mining interests in Chile and Canada. Consolidated Resources, headquartered in Australia, is a worldwide resources company that owns strategic or controlling stakes in publicly listed and privately held resources companies having properties in Mozambique, Zambia, South Africa, and Australia.
Penny Stocks are stocks traded for under $2 and they represent the small cap companies. They trade on the OTCBB so you will not find them on the major stock exchanges. They are very cheap stocks and normally come for businesses needing capital. They are a very risky investment as the business can go under and leave you with a stock worth nothing. However that being said penny stock trading can be a great money maker, and there are numerous traders who make 6 figures and more from them each year.
The best reasons to trade in penny stocks are the fact that they do not require a large initial investment, meaning that they are an affordable investment for many. Penny stocks are cheap. For example if you were to buy 1000 shares in a company with shares at 10 cents, you would only require an investment of $100, whereas if the shares cost $5 you would require an investment of $5000. Penny stocks also have the potential of huge gains, and have been known to rise as much as 1000% daily. Therefore your $100 investment can be worth $1000. This is very unlikely to happen to other stocks from large cap businesses.