I have owned El Dorado Gold, ticker EGO, for a couple of years now. I have made a double so far. I think El Dorado could double again in the next two to three years. One reason is that the price of gold itself may double because of demand in foreign countries and the distrust of the dollar.
Another reason is that EGO bought out Sino Gold recently. Sino was an Australian gold miner with three gold mines in China. Their main mine called Jinfeng has several million ounces of gold, and they are currently producing 180,000 ounces of gold per year.
According to Sino's website, a third mine called the Eastern Dragon is in development. It is expected to produce 90,000 ounces of gold per year at the low cost of $125 per ounce for the first five years. This makes El Dorado one of the lowest cost gold producers in the world, and they will have outstanding profit margins.
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