Brigus Gold Corp. (NYSEAMEX:BRD)

Promising new gold assays from a recent exploration drilling have just seen the light of day. In this respect, an upcoming trading frenzy with the stock of Brigus Gold Corp. (NYSEAMEX:BRD) is no longer a mere hypothesis but a real possibility.

Going up 3.7%, BRD closed the lastest trading session at a four-week peak of $1.10 per share. In terms of volume, it shifted in excess of 1.08 million shares, scoring a significant improvement over the average daily turnover of 814K.

As a member of the gold mining industry, BRD focuses on extracting, processing and refining gold deposits. Presently, the company’s primary asset is the 18-square-kilometer Black Fox Complex located in Ontario, Canada. According to the latest independent NI 43-101 resource estimate, the Black Fox property could contain significant gold deposits, which is why the company has allocated an additional $8 million for its 2012 surface exploration program.

A short glance at BRD’s financial records paint a fairly controversial picture. On the one hand, the company’s net financial results for the last decade have been largely negative. On the other hand, its current assets have exceeded its liabilities in 8 out of 10 years. In 2010, BRD realized  record-breaking revenues of more than $85 million. An additional $50 million have already been secured within the first three quarters of 2011.

Provided that BRD’s exploration program on the Black Fox property meets with success, the company could really find itself sitting on a goldmine. Should such a scenario take place, the company will deal a severe blow to its critics, to the delight of all stockholders. Yet, the latter shuld not be taken for granted before becoming a reality.

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