Agoracom Blog

Harmony Gold – A Potential Near-Term Gold Producer

Posted by AGORACOM at 6:44 AM on Wednesday, September 8th, 2010

PROFILE AS OF SEPTEMBER 3RD 2010

WHY HARMONY GOLD CORP?

With Gold At Historic Highs, Now is the Time to Consider Adding a Potential Near-Term Gold Producer to Your Portfolio

Harmony Gold Corp. (TSX-V: H)

• Latest drill results from Lucky Shot highlighted by 36.38 g/t of gold over 7.3 meters

• Flagship Lucky Shot Project, a past producing, high grade gold property just north of Anchorage, Alaska.

• During production from 1921 – 1942 the Lucky Shot mine averaged a grade of 1.48 ounces to the ton gold and produced 250,000 ounces

• Harmony Gold is on pace to become a gold producer in 2011

• At least 12 gold prospects within a three mile radius of the Lucky Shot property

• A 200 ton per day mill is currently on the property

• CDN$2.3 million available in cash and cash equivalents (as of March 31, 2010)

About Harmony Gold Corp.

Harmony Gold Corp. (the “Company”) is a Canadian based resource company and is one of the newest companies to list on the TSX Venture Exchange with a current market cap of approximately $6 Million.

The Company was created by some of the top mining people in the industry with a combined experience of over 150 years. The aim of Harmony Gold is to expose shareholders to near-term cash flow and also provide growth through mergers and acquisitions.

The past producing Lucky Shot Gold Property is the company’s primary asset, of which it holds an 60% interest (with an option to increase its interest up to 80% ownership) with the remaining 40% held by joint venture partner Full Metal Minerals.  Lucky Shot consists of approximately 8,800 acres with 7 historically mined veins or fault systems.

Harmony Gold will focus 100% of its efforts on the Lucky Shot Gold Mine just 60 miles north of Anchorage, Alaska. With all infrastructures in place, the Company intends to be in production sometime in 2011. The underground nature of the mine allows the Company to produce year-round. The mine will produce 250 tons per day and Harmony’s intent would be to reach commercial operations with no debt.

About Lucky Shot Gold Property

Lucky Shot is a past producing, high grade gold property north of Anchorage, Alaska.  Although recent exploration work on Lucky Shot started in 2005, most of the production work was pre-1939 when the war measures act ordered men away from the mines, and into the war.

The project is located in the historic Willow Creek Mining District. Past-producing mines in the District are considered to be among the highest grade in the Northern Cordillera, with documented production from company records and The Alaska Department of Mines listed at over 620,000 ounces Au from multiple veins and shears, at an average grade of approximately 1.0 ounce per ton of Gold.

On February 11, 2010 Harmony announced assay results from an infill and step-out drilling program completed at the Lucky Shot Gold Property. During September and October of 2009, 26 drill holes were completed totaling 4,200 meters of drilling. Highlights include:

C09-152: 3.6 meters averaging 24.14 g/t Au
C09-153: 0.9 meters averaging 102.00 g/t Au
C09-158: 0.6 meters averaging 58.20 g/t Au
C09-169: 3.7 meters averaging 19.23 g/t Au
C09-171: 7.3 meters averaging 36.38 g/t Au

Why Gold, Why Now?

Sept. 24, 2010 – Gold Sets Record Again Ends Below $1,300 (Source: The Wall Street Journal)

Sept. 23, 2010 – Gold, Silver Soar To New Record High On Global Surge (Source: The Times Of India)

Sept. 14, 2010 – Gold Hits Record As Econ Worries Rise Again (Source: The Wall Street Journal)

Sept. 2, 2010 – Gold May Rise as Slowdown Spurs Investor Demand Survey Shows (Source: Bloomberg)

Aug. 27, 2010 – Global Demand for Gold on the Upswing (Source: CTV News)

Aug. 20, 2010Gold Gains As Investors Seek Safety (Source: The Wall Street Journal)

To Learn more about the Harmony Gold Corp. (TSX-V: H) opportunity And Get On The Investor List:


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2 Responses to “Harmony Gold – A Potential Near-Term Gold Producer”

  1. My user name is /fuelsaver I would like more up dates on Harmony Gold