Failure is NOT an Option: All American Gold Corp. (AAGC)

It’s inevitable. Shares in the penny stock of All American Gold Corp. (OTCBB: AAGC) lost almost 94% of its value since it was first promoted in the beginning of September, 2011, by QualityStocks. QualityStocks’ $179,999 promotion pushed the penny stock, AAGC, down from mid $.90 to the low teens in less than four weeks of share trading. Failure is a trend for the share price of AAGC‘s penny stock so let’s see what happens with PremiumStockPicks whose getting $60,000 for tomorrow’s promotion.

AAGC last reported any news on their gold exploration back in February, 2012, with an update on their Belleville Project. AAGC had contracted an expert in reverse circulation mud drilling after encountering unexpectedly thick alluvium (“gravel”) in December, 2011. The expert was expected to supervise the drilling of the IP target and brought in special equipment to facilitate placing casing through the gravel. Initially it worked down to 200 feet where, unfortunately, the hole remained in gravel. Caving again became a problem and to avoid losing the entire drill string the hole was abandoned at 235 feet.

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In the last trading session, AAGC traded 200 shares so expect to see a significant increase in volume. Duh!

AAGC Stock Chart:

AAGC Stock Analysis:

Market Cap: 5.89M

52 Week High:
(9/9/2011) 0.94
52 Week Low:
(4/4/2012) 0.05

50-Day Moving Average: 0.08
200-Day Moving Average: 0.12

Avg Vol (3 month): 42,475
Avg Vol (10 day): 16,163
Shares Outstanding: 96.64M
Float: 42.14M

5 Day History
Percent Change: 0.00%
Moving Average: 0.0683
Average Volume: 16,482

A week ago, AAGC announced the signing of a Letter of Intent with Desert Pacific Exploration, Inc. The LOI  sets out guideline terms and conditions between Desert Pacific and AAGC for the “Essex” mineral property. Under the terms of the agreement, AAGC has an exclusive period until May 10, 2012 to investigate the mineral property and data from previous mining results and other due diligence. Considering they couldn’t drill through “gravel” on their Belleville Project, there can’t be much faith in this LOI being worth the ink it has on it.

SAVE THE TREES! Stop signing worthless agreements and do something.

About All American Gold Corp.

All American Gold Corp. is a publicly traded company focused on the acquisition and ongoing exploration of mineral property holdings in the U. S. All American Gold has various existing holdings in the gold-rich state of Nevada and intends to seek out new opportunities through its experienced and proven geological team.

GOLDFIELD WEST: This property is an advanced exploration property with defined targets including a defined resource comprised of 105 unpatented mining claims covering a total of 850 hectares, or 2100 acres. The property is located approximately 3.5 hours Northwest of Las Vegas, Nevada by car, and approximately 3 miles west of the town of Goldfield (just in case you were planning a sightseeing trip for “gravel”).

The Goldfield West property is easily accessible by well-graded dirt roads, and adjacent to International Minerals Goldfield properties, which contain a reported 1.2 million ounces of gold resources. The Goldfield district is famous for multi-ounce, bonanza gold ores and has recorded historic production in excess of 4 million ounces of gold at an average grade of > 17 g/t Au.

BELLEVILLE: This project is approximately 175 miles southeast of Reno, Nevada and approximately 250 miles northwest of Las Vegas, Nevada with plenty of “gravel”. The project is located near recent and historic producing mines including the Candelaria Silver Mine, which is ten miles to the east, and the Marietta Mine, six miles to the west.

The Candelaria Silver Mine has produced more than $30 million in mineral resources, while the nearby Marietta Mine has attracted Great Western Mining Corporation PLC from Ireland. Both of these past producing mines lie within the Walker Lane structural and mineral belt, as does the Belleville Project, which is comprised of 10 unpatented mining claims spanning 74 acres.

IOWA CANYON: This property is located in Lander County, Nevada. Approximately 30 miles southeast of the Cortez Hills deposit. The Property is also located within 20 miles of the Cove-McCoy mine. With several gold and silver bearing targets within a six square mile area, the Iowa Canyon property represents a nearly untested exploration opportunity.

Recent exploration efforts have discovered multiple episodes of precious metals mineralization over a district-wide scale. Gold is hosted in a variety of rock types including silicified Tertiary volcanic and volcanoclastic sediments, quartz veins, quartz stockwork zones, carbon-rich Paleozoic sediments, and as jasperoid replacements of lower plate calcareous sediments.

Bottom Line: AAGC still has $0 Revenues, two employees, and needs to pay installments for its leasing agreements. The one and only source for funding is the penny stock. Keep this in mind if you’ll decide to play AAGC. This is one of those penny stocks that you can’t bear to watch much longer than a few seconds.


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