Market Update From PennyToBuck Including Gold American Mining Corporation

Gold American Mining Corp. (SILA.OB) is a publicly traded precious metals exploration company focused on the aggressive, ongoing acquisition and exploration of holdings with rich gold and silver production potential.
By: Justin Handy
 
July 31, 2010 - PRLog -- Gold American Mining Corp. (SILA.OB) is a publicly traded precious metals exploration company focused on the aggressive, ongoing acquisition and exploration of holdings with rich gold and silver production potential. Based in Reno, Nevada, Gold American has developed a promising portfolio of international properties in regions marked by stable politics, sound economies and friendly business relations.

The Company recently entered into a $7.5 million equity financing agreement with a European institutional investment group that specializes in backing precious metals and mining ventures. SILA reported they received funds in the amount of $300,000 in virtue of this agreement and that SILA still has a balance of $7.2 million that SILA could call upon to fund their exploration and acquisition strategy. During 2010, SILA have received total equity subscription proceeds of $500,000.

SILA.ob share prices closed at $1.16 as of July 26th, 2010 with their total volume at 994,557 shares. SILA.ob’s average volume has been 238,000 shares trading. SILA.ob’s total outstanding shares accumulate up to 85.93 million out of which 40.93 million shares are floated in the stock market.

Take a look at the price history (click here) of SILA.ob over the last 52 weeks it traded between $0.45 to $1.45. Technical analysis suggests it appears that SILA share price has defined its support level of $0.45 and resistance of $1.45. Despite the current market share price it is in the upper price range of its historical prices and still has a considerable margin for capital gain.

A bullish activity has also been witnessed in SILA.ob stock as it was trading around $0.65 a week ago and has seen improvement of 78% percent in just one(1) week supported by high trading volumes.

June 30th ,2010 stats on SILA.ob


Last Trade: 0.90
Change:  0.05 (5.88%)
Prev Close: 0.85
Open: 0.82
Bid: 0.86 x 2500
Ask: 0.92 x 2500
Day's Range: 0.81 - 0.98
52wk Range: 0.40 - 1.45
Volume: 337,128
Avg Vol (3m): 239,923
Market Cap: 77.34M




ABOUT GOLD AMERICAN MINING CORPORATION

Gold American Mining Corp. is a publicly traded  precious metals exploration company focused on the aggressive, ongoing acquisition and exploration of holdings with rich gold and silver production potential. Based in Reno, Nevada, Gold American has developed a promising portfolio of international properties in regions marked by stable politics, sound economies and friendly business relations. For more information the Company and its projects, visit Gold American's website at www.gold-american.com.


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Justin Handy
justin@crownequityholdings.com
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Fax: 702-479-7151
Toll Free: 1-877-854-6797
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