Gold Micros, CVRG
Apr 16th, 2009 by beststockreport
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April 15, 2009
Converge Global, Inc. (OTC:CVRG)
Price: .03
Comments: CVRG is a gold company which has a Joint Venture deal with Sarissa Resources Inc (OTC: SRSR) on a gold property in Northern Ontario, Canada. SRSR was a 400% gainer for us, so we’e hopeful CVRG can do the same for us.
The JV property, The O’Connor Asquith, resides in Asquith and Churchill Townships consists of 16 claims, approximately 640 acres (1 square mile) and has significant historical gold showings.
Today CVRG announced that it is commencing exploration work on its O’Connor Asquith gold property in Northern, Ontario, Canada. The exploration team, managed by Sarissa Resources Inc., will begin its work on Stripped area #3 on the O’Connor Asquith gold property. Alex Korboukh, the team’s geologist, will be supervising the work. The work will consist of channel cutting and shallow drilling to allow blasting the rock in the anomalous areas previously identified in the area. Samples will be collected by the geological team and then brought to an independent assay lab for testing of the samples.
Alex Korboukh comments, “This zone, Stripped area #3, on the property has yielded gold values as high as 19 grams per ton and we want to examine the rock and the geology much more thoroughly and deeper in depth in this phase of the exploration program.”
The company will release results from the exploration of the O’Connor Asquith property as the results become available.
In addition, Converse Global, Inc. (CVRG-OTC) has retained an accountant to bring all the companies’ management prepared filings up to date.
Gold Stock Mojo
The global gold mining supply, which peaked in 2003, fell yet again this year and gold investment demand leapt as the financial crisis deepened, with a significant shift from paper certificates and derivative schemes to owning physical gold. The U.S. dollar bounced back slightly over the last couple of months (short covering from global forced liquidations?), but we have to wonder how much longer it will hold up with the amount of debt we are issuing.
Lots of gold stocks have had nice runs over the past few months and they will likely continue as the value of the U.S. dollar looks gloomy in the long-term. A few additional gold microcaps we are watching are:
US Gold Corporation (NYSE:UXG)
Northgate Minerals Inc. (NYSE:NXG)
Paramount Gold and Silver Corp. (NYSE:PZG)
Good luck and happy hunting! – Dave Reiner
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