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Micro-Cap on Watch; Gold and GemStone Mining Inc. (GGSM)

By Warren Paige

Gold and GemStone Mining Inc. (OTC: GGSM), an exploration stage company engaged in the acquisition, exploration and development of diamond and gold properties, today, said that its joint venture partner in Sierra Leone, West Africa, secured another 50 acres of surrounding concessions to the existing project Nimiyama.

The project is located in the Kono District, which is a prominent diamond and gold mining area. GGSM said that the new agreement, which has been signed with the local paramount chief, increases the existing 50 acre site up to a potential total of 100 acres of prime alluvial and gold mining territory.

GGSM noted that the provision of the additional mining concessions is subject to its initiating mining operations on the existing 50 acre concession within the next 12 months.

Gold and GemStone shares have risen sharply in the last three trading sessions. Since Wednesday, the stock has gained 172%. In today’s trading, the stock is up 3.70%.

June 1st, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.