WESTON, Fla., July 7, 2004 (PRIMEZONE) -- Wall Street News Alert's "stocks to watch" this morning are: West Africa Gold Inc. (OTCBB:WAGI), Internet Business's International, Inc. (OTCBB:IBII), Air T Inc. (Nasdaq:AIRT) and Cedar Shopping Centers Inc. (NYSE:CDR).
Aggressive investors and traders are sure to be monitoring West Africa Gold Inc. (OTCBB:WAGI) again this morning, as the company continues to issue promising news! Yesterday, the company issued two press releases (one after the markets had closed). The first release announced that the company has purchased its first North American Gold Mining Property, which is located in Arizona!
According to the company, the costs of the acquisition, of the extremely promising Gold Mining properties, is being settled through the issue of Restricted Shares of West Africa Gold Inc Common Stock.
The first North American Gold acquisition by the Company is Golden Sierra Limited which owns the Mineral Rights to the Mockingbird and Great West Gold Project areas in Arizona, USA and comprises of 4 claim groups spread over 2,500 acres in Mohave County. Previous owners of these projects or parts of them have included Western States, Santa Fe Gold (now part of Newmont), Gulf Mineral Resources and Chevron (now merged with Gulf Mineral Resources). The company has managed to obtain much of the exploratory reports & data, which supports the assay findings.
The press release contains more great news, concerning the company's high hopes, details of previously mined gold, future expectations for the property and investors are encouraged to read the company's actual press release!
After the markets closed, the company issued another press release announcing that it has appointed Dr. Wayne P Colliston as the new Chairman of its Advisory Committee to focus on the evaluation of all the geological data and Mining Reports in respect of the Company's initial five Mining Projects in Mali, West Africa and the Company's recently acquired Gold Mining Properties in Arizona. The Advisory Committee will be formulating the Company's strategy for the exploration and development of these mining projects.
Richard Axtell, the President of West Africa Gold Inc stated "that he was delighted to have a leading light in the Mining Industry as the Chairman to the Company's Advisory Board and was looking forward to the enormous value that would be created for the Company's shareholders through this appointment of Dr Colliston and his team."
Dr Colliston has an impressive set of credentials and an internationally recognized PhD degree in geology from the University of the Free State (UFS) in 1990. He is a fellow of the Geological Society of London; he is also a registered Pr Sci Nat with SACNAS (South African Council for Natural Professions; registered since 1983), which qualifies him as a Competent Person and enables him to be the author of Competent Persons' Reports for evaluation and investment purposes.
Dr. Colliston is currently employed as a senior lecturer in the Geology Department of the University of the Free State in South Africa and was also an appointed Research Associate at the Royal School of Mines, Imperial College of Science, University of London. He has been involved in the study, teaching, research, application and consulting in the geological sciences for the past 24 years. He is the author of 146 scientific contributions and has addressed geological audiences at conferences both nationally and internationally.
Investors should have their eyes on this one!
The stock closed yesterday around Ten cents a share.
In case you are not familiar with the company: West Africa Gold (www.westafricagold.com) is an aggressive gold exploration company that has acquired certain rights to mine for minerals, primarily gold, in various regions of the Republic of Mali and now in North America.
Stocks showing interesting activity yesterday at the close of the regular trading day were: Internet Business's International, Inc. (OTCBB:IBII) up 12.5% on 115.9 million shares traded, Air T Inc. (Nasdaq:AIRT) up 48% on 10.1 million shares traded and Cedar Shopping Centers Inc. (NYSE:CDR) up 10% on 342,000 shares traded.
Commentary:
"This is a slow week for economic numbers, however, Thursday's consumer-credit data for May could be interesting and worth noting. Consumers have more than $2 trillion in debt owed; this excludes real estate loans. Additionally, chain-store sales for June are due Thursday," stated Sonja Rudd in Wall Street News Alert's daily commentary continued at: http://www.WallStreetNewsAlert.com.
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