Exploration buys for the highly aggressive

Article Excerpt

Higher commodity prices and an improving global economy have caused many junior-resource stocks to rebound. Here are three penny stocks that have cash to sustain themselves, whichever way commodity prices go. We think they have a better-than-average chance of long-term success. MIRANDA GOLD $0.44 (Toronto symbol MAD; SI Rating: Start-up) (604-689-1659; www.mirandagold.com; Shares outstanding: 44.9 million; Market cap: $19.5 million) explores for gold, mainly in the Cortez Trend and Battle Mountain-Eureka regions of Nevada. Miranda has 13 properties in various stages of production in these areas, which are two of the world’s most productive gold belts. The company takes part in a number of joint ventures. These are crucial for junior-exploration firms, as they give them a way to fund further exploration on properties where they have already discovered minerals. The agreements also let juniors retain an interest in the properties without taking on debt or resorting to dilutive share issues. Miranda has joint ventures with Montezuma Mines, NuLegacy Gold, Newcrest Resources, Piedmont…