PELANGIO MINES INC
Pinnacle Digest: Exploration Properties Spur Interest: Sector Evaluated
10/12/2007
Oct 12, 2007 (M2 PRESSWIRE via COMTEX News Network) --
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Pelangio Mines Inc. (TSX:PLG) experienced a 2% jump in share value Thursday along with 405,559 shares traded. On October 11th they announced an update on their exploration properties in Ghana and Ontario, Canada. We are interested in how the continued progress at this property will affect them in terms of their development. To read this article in full and to learn more about our expanding, multi-purpose online financial magazine, visit us at www.pinnacledigest.com.
At PinnacleDigest we are currently focused on the small to mid cap markets. We are focused on companies specifically focused in the mining and energy based sectors operating within North America. Our main goal has and will always be to enhance our members approach to the market, while adding additional research.
U.S. stocks have risen for four straight weeks. The Dow hit an intraday record before falling 63.57 points on the day. The Dow Average closed at 14.015.12 while the S&P as well rose to a record early in the day, but closed down 8.06 points to 1554.41. All in all the markets have emerged from the beating they were dealt this summer at the behest of the mortgage meltdown and a continually sliding housing market. US markets capped the largest September advance in 8 years after the Federal Reserve cut interest rates.
The Fed is expected to cut rates once more and this is fueling positive sentiment in the markets currently. Ed Peters the Chief Investment Officer at PanAgora Asset Management in Boston made a comment we agree with strongly at PinnacleDigest. He stated, "Commodities will continue rising in price, lifting shares of their producers, because the rate cut may boost inflation." The fear surrounding the spread of the housing crisis was quelled for the moment.
We have our eye on the oil and gas sector at PinnacleDigest as the price of oil continues to trade at historically high levels. Canadian stocks have put together a very nice rally of late. We reviewed the details of this rise in this week's newsletter found under our "Weekly Volume" section. The TSX Composite fell 46.75 points Thursday. The index closed at 14229.44.
The markets have clearly regained stability for the moment and have been moving in a very positive direction lately, hovering around all time highs. We will be continuing to closely monitor the financial sector as many issues surrounding the mortgage crisis have yet to be dealt with.
At PinnacleDigest we have recently announced two new featured companies's trading in the mining and oil and gas industries. We invite you to visit our multi-purpose online financial magazine to learn more about the company featured in this article and to find out exactly what our expanding online financial magazine has to offer.
In respect to Pelangio Mines we are interested in their most recent development, but even more specifically the trend of the sector influencing their ultimate success. We are most interested in learning more about Pelangio's 100% owned Black property which includes leased and staked mining claims totaling approximately 640 acres. It was recently reported that based upon the results of the survey, a drill program should be performed in the winter 2007-2008. We will be following up with Pelangio Mines as they progress during this pivotal time period. The continuation of this article and information beneficial to the mining market can be viewed on our multi-purpose online financial magazine, at www.pinnacledigest.com.
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