GOLD WATCH! OBSERVE SILA AND FCX: By PennyGovernance.com – TMCnet

According to analyst in the market world, Gold continues to strong a very strong commodity, with prices having gone steadily higher over the past five years. With older mines being depleted, companies are looking for new opportunities for gold mines.

One area generating interest is south of the border in Mexico. Gold American Mining Corp. (OTCBB:SILA) has recently reported in a press release that the company has an option agreement to purchase an undivided 90% interest in two gold mining concessions in Zacatecas State, Mexico. The option covers over 282 hectares. Each hectare is about 100 acres. Although Canada and the United States account for about 20% of the world’s gold production, Mexico is also a gold state. As more and more companies are looking for places to mine, going south to Mexico seems like a strong strategy which may provide golden returns for SILA shareholders.

Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX) engages in the exploration, mining, and production of mineral resources. It primarily explores for copper, gold, molybdenum, silver, and cobalt deposits. The company holds interests in various properties located in North and South America; Grasberg minerals district in Indonesia; and Tenke Fungurume minerals district in the Democratic Republic of Congo.

As of December 31, 2009, its consolidated recoverable proven and probable reserves totaled 104.2 billion pounds of copper, 37.2 million ounces of gold, 2.59 billion pounds of molybdenum, 270.4 million ounces of silver, and 0.78 billion pounds of cobalt. Freeport-McMoRan Copper & Gold Inc. was founded in 1987 and is headquartered in Phoenix, Arizona.

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