The most promising was a gold stock called Great Basin Gold (GBG), listed on the Vancouver Stock Exchange. What makes this company exciting is that it has 2 great projects, one of them full-funded by a farm-in partner.
1. Nevada: High grade gold project on the famous Carlin gold trend in Nevada, USA. Its identified 1Moz of gold, and given the potential for repetitions of this mineralisation, its very promising, as well as the potential depth extensions demonstrated at nearby mines. Production is probably 18mths away. The partner is earning 50% I believe by funding $18mil for feasibility & mine development. Its an UG mine, so it will take time to access UG ore. The grades are roughly 28g/tonne of gold, much higher than the typical 5-9 g/t you see in most UG mines.
2. South Africa: They also have a large-scale gold deposit in South Africa, ie. Something like 40Mt at 5 g/t. This project is less advanced, but very attractive.
The other stock I liked at the time Anooraq Res did as well (600% gain), but has since slumped. Its projects did not live up to expectation. Exploration is risky, which is why a company like GBG, with demonstrated resources is an appealing investment as we move into an inflationary gold boom!