Three buys for geology plus cash-in-bank

Article Excerpt

These three penny mines have promising mineral properties, substantial cash holdings, plus connections with major companies than can play a key part in helping them achieve financial success. MIRANDA GOLD $0.43 (Toronto symbol MAD; SI Rating: Start-up) (604-689-1659; www.mirandagold.com; Shares outstanding: 51.2 million; Market cap: $22.0 million; No dividends paid) explores for gold, mainly in the Cortez Trend and Battle Mountain-Eureka regions of Nevada. It has 13 properties in various stages of production in these areas, which are two of the world’s most productive gold belts. The company also has an exploration project in Alaska, and is applying for an exploration license in Colombia. Miranda takes part in a number of joint ventures. These agreements are crucial for junior-exploration firms, as they give them a way to fund further exploration on properties where they have already discovered minerals. Joint ventures also let juniors retain an interest in the properties without taking on debt or resorting to dilutive share issues. The company has joint…