What's going to happen to the gold price next year? Several respected London analysts believe that it's going to hit $1,000 an ounce during the current cycle, and a combination of dollar weakness, global uncertainty, and a booming metals sector look highly likely to prove them right. Gold at $1,000 will be good news for plenty of miners, but European Goldfields looks likely to benefit more than most among the small- to mid-cap players for the simple reason that it's got a lot more gold.
Granted, current gold production is relatively small and, at this stage, the gold produced is only in concentrate form. But, looking ahead, total reserves of nearly 10m ounces point to a bright and shiny future. The company also has 78m ounces of silver and 860,000 tonnes of copper to its name - although recent weakness in the copper market has taken some of the shine off this.