3 Gold Shares Rising Strongly: Patagonia Gold plc, Centamin PLC And SolGold plc

Patagonia Gold plc (LON:PGD), Centamin PLC (LON:CEY) and SolGold plc (LON:SOLG) all outperformed the price of gold last week.

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The price of gold performed poorly last week, dropping from Tuesday’s high of $1,330 per ounce, to a low of $1,261 per ounce on Friday morning. Gold for immediate delivery ended the week down by 3.3%, at $1,272 per ounce.

Of course, the only practical way for most private investors to invest in gold is through exchange-traded funds. The largest gold ETF, the $38bn SPDR Gold Trust (NYSE: GLD.US), ended last week down 3.6% at $122.60, while London-listed Gold Bullion Securities (LSE: GBS) ended the week down 3.2% at $123.05. So far this year, shareholders of Gold Bullion Securities have seen the value of their holdings fall by 23.9%, while the value of SPDR Gold Trust shares has fallen by 24.9%.

Against this difficult backdrop, a number of gold mining shares made solid gains last week:

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Patagonia Gold (LSE: PGD) ended the week up by 10.9% at 12.8p. The firm, which is in the process of ramping up production at its Lomada de Leiva gold project in Argentina, has not released any news since its half-yearly report in September, but the firm’s Chairman and Finance Director recently purchased almost £1m worth of shares in the firm, which also benefits from strong investor support through its inclusion in the popular Market Vectors Junior Gold Miners ETF, which owns almost 5% of Patagonia Gold.

Centamin (LSE: CEY) closed up 1.3% to 45.6p on Friday last week, after having touched a high of 47p early on Friday morning. The firm’s gold production was 84,757 ounces during the third quarter, a 39% increase on the same period in 2012, according to figures published last week, although production was down by 9% on the second quarter of 2013. The firm is now confident of exceeding its full-year 2013 guidance of 320,000 ounces, despite likely disruption during the fourth quarter as it begins to commission stage four of its plant expansion programme.

SolGold (LSE: SOLG) gained 5.0% to 8.7p last week after releasing preliminary assay results showing more than 200m of copper-gold mineralisation, at up to 1g/t of gold and 0.5% copper, at the Alpala prospect within the SolGold’s Cascabel Project, in Northern Ecuador.

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Should you invest, the value of your investment may rise or fall and your capital is at risk. Before investing, your individual circumstances should be assessed. Consider taking independent financial advice.

> Roland does not own shares in any of the companies mentioned in this article.

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