Topic: Growth Stocks

Stock Pickers Digest Hotline – Friday, July 8, 2011

Article Excerpt

EUROPEAN GOLDFIELDS, $13.65, symbol EGU on Toronto, jumped 36.5% this week. That’s because Greece’s Ministry of Environment, Energy and Climate Change said it will grant the company a permit to build new mines on two of its mineral deposits in Greece: The Olympias mine could start up later this year, followed by a new mine at Skouries in 2012. The two mines should boost the company’s gold output from 70,000 ounces per year to over 420,000 ounces. European Goldfields has faced delays in getting the appropriate permits. It submitted an environmental-impact study last year, but the Greek government delayed approval of the study. That was partly due to local opposition, but also to make sure the project would not pollute groundwater deposits in the area. These new gold mines will make the company the European Union’s biggest gold producer. As well, the prospect of such a large production increase could make European Goldfields a takeover target. European Goldfields is a buy. ALIMENTATION COUCHE-TARD, $27.98,…