Two numbers point to the potential of Castle Peak Mining. These are five and 50. In short, there are five mines within a 50 km radius of the firm's Akorade project with a total of 50 mln ounces of gold reserves and resources.

Gold producer Great Basin Gold (TSE:GBG)(AMEX:GBG) Tuesday posted a 27% increase in revenue to $33 million for the quarter that ended March 31, compared with the same quarter a year earlier. The company cited a 7 percent improvement in ounces sold, as well as an 18 percent increase in the realized gold price.

Sunridge Gold (CVE:SGC)(OTCQX:SGCNF) Monday unveiled "positive" results of a feasibility study for its 100 percent-owned Debarwa volcanogenic-massive-sulphide (VMS) copper-gold-zinc deposit, part of the Asmara project in Eritrea.

Gold Resource Corp (AMEX:GORO) announced late Thursday record results for its first quarter that it said set a "strong base" for the company, with gold equivalent production quadrupling year-over-year and mine gross profit more than tripling.

Trelawney Mining's (CVE:TRR) recent acquisition deal by Iamgold Corp (TSE:IMG) (NYSE:IAG) could signify the start of a series of buys in the junior Canadian gold space, with the $585 million deal providing a "wake-up call" for gold producers with cash to spend, says mining research analyst Peter Campbell of Jennings Capital.