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Gold company in Nevada hits TSX with a bang

5/14/2008 1:37:42 PM | Buzz on the Boards

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Penny stock completes financing requirement for TSX listing, share price rises: Firstgold Corp.

This morning (Wednesday) at market open, Firstgold Corp. (OTC:BB: FGOC, Bullboard) began trading on the TSX under the ticker FGD. The formal news release of the new exchange listing hit the wires yesterday at about a quarter to one in the afternoon.

If increased trading volume and better access to Canadian resource investors is what Firstgold was after with their TSX listing, they certainly got it. The stock opened on Tuesday, May 13 (the day before the listing), at 52 cents and climbed all the way to 63 before closing at 61. Volume was well-above average at over one million shares traded. Today the stock is slightly down from yesterday’s close, but nowhere near pre-TSX-listing levels.

The company owns properties in gold-rich Nevada, including flagship Relief Canyon Gold Mine. It has recently completed close to $10 million in new financing, which was a condition of being able to list on the TSX.

On the Firstgold Bullboard, December3 posted news of the successful TSX listing and noted that the stock was up 22%. Before that, however, there hadn’t been a post since April 19, when hellhole announced a wish that the company better start producing a “substantial” amount of gold. The investor is “tired of their slick website stating that they are the best keep secret out there.” Earlier in April hellhole had said, “Actually I was very suprised [sic] this stock has held it [sic] own for this long; obviously there are a lot of loyal investors. But people have only so much patience...”

As a joke, Catopractor wanted to know the answer to an important question: “When can I expect to receive my first dividend check? Can I get the dividend paid in gold instead of funny money?”

And then way back in February, ashcake said, “This play is dead w/o a legitimate listing to bring in much needed Canadian fund buying and road show to get this story out!! If this is a [sic] as good as I have been led to believe we should be up & away when we can get listed on TSX. If we can't get listed I will have serious doubts about the value here.”

Well, the TSX listing is complete and the stock is “up & away” – at least for now. To follow the story, join the gang on the Firstgold Bullboard.

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