Business & Finance
Business and Finance
Business and Finance
Tue, September 21, 2010 
AUSTIN, Texas--([ BUSINESS WIRE ])--Spectrum Acquisition Holdings, Inc. (Pink Sheets: SPAH), a growing mining exploration, technology and services organization, has taken a new interest in the old California Gold Route.
"Gold mining stocks, a risky but potentially profitable way tobuy gold, were rising Tuesday."
As gold hits an all time record high this month, in addition to its high in June 2010, prospecting for the right gold claim has become an even higher priority for Spectrum Acquisition Holdings.
With gold at $1,276.50 an ounce this September, which is $10 more than in June, financial experts such as Alix Steel point out the benefits that this has on Gold Mining Stocks in his September 14th 2010 article, Gold Prices Surge to Record High. In it he claims, aGold mining stocks, a risky but potentially profitable way tobuy gold, were rising Tuesday.a
This new surge has lead Spectrum Acquisition Holdings to focus its prospecting for Gold Claims in California.
Spectrum CEO Dale Henry comments, aWe are doing an extensive research of the remaining gold claims in California, which might still contain good veins for gold mining. We are excited about this prospect not only for the possible revenue, but also for its historical significance.a
The Californian Gold Rush began back in 1848, but really skyrocketed in 1849, hence the nickname aforty-niners.a Although the first to seek out gold were the Californians for their proximity, it soon became an international escapade. People from as close to Latin America and as far as from China were sailing to California for a chance to strike it rich.
It is estimated that 90,000 people arrived in California in 1848. By the 1890s, when dredging was invented, it is estimated that a total of 20 million ounces of gold were recovered, that is approximately US$12 billion dollars worth. As easy gold got harder to mine, new technologies emerged and the necessity to extract ore gold lead to digging, dynamite blasting and leaching for gold, which is something expensive that only big companies and the wealthiest of men could afford. Many gold claims were abandoned due to the lack of proper equipment to mine for gold, and remain intact till today.
About Spectrum Acquisition Holdings, Inc. (SPAH.PK)
Spectrum Acquisition Holdings is executing a three-pronged strategy for growth. The Company is acquiring interests in high quality, low-risk gold projects with past production and sizeable resources. Spectrum is developing technology solutions to enable more sustainable, smaller footprint mineral exploration, production and processing. Spectrum is also pursuing acquisitions of mining sector service companies including operators, mine site service providers, equipment manufacturers, geology firms and technology developers.
