NFX GOLD INC
Pinnacle Digest: Program Commenced at Lemoyne North Property: Draws Attention
1/23/2008
Jan 23, 2008 (M2 PRESSWIRE via COMTEX News Network) --
www.PinnacleDigest.com is a performance-driven online financial magazine with a consistent and disciplined approach to the market. With our growing network of experienced professionals we strive to bring investors the only multi-dimensional online investing magazine. Recent news from NFX GOLD INC. has led to further research by our team in order to determine if we will select them as our next Featured Company. Pinnacle members will be notified if we select them as our next equity target. Although the Canadian markets are our focus at Pinnacle Digest they are directly related to the American markets, which is why we research both equally.
NFX GOLD INC. (TSX-V:NFX) experienced a 7.32% rise in share value Tuesday combined with 227,100 shares traded. On January 22nd they announced that a surface diamond drilling program has commenced on the Lemoyne North Property. This development has earned the attention of our team at Pinnacle Digest. The program is pursuant to their July 2007 option and joint venture agreement with Eloro Resources Ltd. We are focused on how it will affect their progress and goals over the next few months and are debating the potential ramifications.
Our team is constantly searching for our next featured equity and will be tracking their development. To follow up with NFX GOLD INC. continue with this article. To find out exactly how our online financial magazine can benefit you as an investor, and to voice your opinion in respect to NFX GOLD INC. visit us at www.pinnacledigest.com.
US stocks resumed trading on Tuesday and fell hard after the Fed announced the largest interest rate cut in 23 years. The TSX Composite dropped the most in almost 7 years Monday reaffirmed severe concern and panic that the US economy is faltering. On Tuesday they rebounded amazingly soaring over 500 points. Monday's and Tuesday's losses followed last week where North American markets ended their fourth consecutive week of declines. Intel Corp. has recently led technology companies in declines after they forecasted plummeting sales numbers. Citigroup Inc. reported the largest loss in its 196 year history and dove to its lowest level since February of 1999.
President George Bush proposed late last week up to $150 billion in tax rebates and incentives to ward off a recession. His plan in late 2007 to freeze mortgage rates had little to no affect and his most recent tax rebate claims have not had an affect yet. The Fed, the President and now Congress are coming together to do whatever they can to avert a full blown recession. The Dow dropped 4% last week alone and lost 128.11 points on Monday to close at 12,971.19, extending its downturn to over 9%.
The TSX and TSX-Venture exchanges are our focus at Pinnacle Digest. Resource based companies operating in these exchanges are what our research focuses on. Canadian stocks reported their first weekly gain in almost a month as sentiment central banks in the United States will cut borrowing rates to stave off a recession was prominent last week.
Canadian equities have been falling over the past few months as a slumping US economy has been sending shockwaves through the entire market. Canadian stocks fell the most in almost seven years Monday, but rebounded very strongly on Tuesday. Much of last week's selling was attributed to CIBC which sold more that $2.75 billion in discounted stock to cover write down losses attributed to the US subprime meltdown. The news from Citibank late in the week did not help as the TSX Composite finished off its worst weekly drop in seven years. A great concern that the US is headed into a recession is holding many stocks down amidst record commodity prices.
Canada's biggest fear is that a lack of credit will slow the global economy and thus reduce the demand of materials. At Pinnacle Digest we believe the global demand for many commodities will overpower any economic turmoil in the United States. The TSX Composite exploded Tuesday soaring to its largest single day rise in almost ten years. This came after the largest single day decline in five years after the largest weekly decline in seven years. The index moved up 508.76 points Tuesday to close at 12,640.89. The fluctuation occurring within this index is exceptional and keeping everyone on edge. The fact CitiGroup Inc. recently stated that it will have to write down another $11 billion dollars combined with the mortgage fiasco is still having a tremendous effect on the Canadian markets.
At Pinnacle Digest we feature three companies trading within the mining and oil and gas industries. We invite you to visit our multi-purpose online financial magazine to participate in our community and to educate yourself further on the markets moving this company forward.
In respect to NFX GOLD INC. we are interested in their most recent development, but even more specifically the trend of the sector influencing their ultimate success. In regards to their Lemoyne North Property they have initiated a 2,000 meter surface drilling program to test the sulphide zone associated with alumina and magnesium bearing alteration, typical of the Doyon-Bousquet-La Ronde Camp.
We will be reviewing NFX GOLD INC.'s development at this property and the potential ramifications. Further information and the entire article will be available on our site as well as an exclusive Chat Board dedicated to their shareholders. All NFX GOLD INC. shareholders are encouraged to share their thoughts on this equity with one of North America's largest online investor communities. Within one week we will be announcing our next Featured Company which we only do four times every year. Join our informative and complimentary online financial magazine at www.pinnacledigest.com.
To continue with this report as well as other related articles, please visit www.pinnacledigest.com for a complimentary membership. It should be stated that our membership requires no commitment to our service. If you would like to contact us please write to support@pinnacledigest.com.
PinnacleDigest has no vested interest in the company mentioned herein. This source of information is from an unbiased perspective. If you wish to become a member of www.pinnacledigest.com you will be gaining access to articles similar to this one and many other useful services we know you will find valuable. Keeping you educated and up-to-date with the market is one of our main purposes. Our approach in achieving this goal and our ability to consistently deliver high quality investment material is what defines our business model.
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