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AM Gold Inferred Resource Estimate at Red Mountain Significantly Increased; Price Jumps 12% But Hits Day Lows

AM Gold Inc. (AMG.V) jumps almost 12% in the afternoon trade, but hits day low $0.145, after announcing the results of an updated resource estimate for the Jethro Structure on the Company's Red Mountain Property located in the Yukon Territory, Canada.

Neil Downey, VP Exploration commented, "We are very pleased with the significant increase in the inferred resource estimate at Red Mountain as it represents a considerable step forward for the project. The project remains open in all directions and at depth."

AMG saw heavy trading today with over 1.3 million shares changing hands.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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