Tag - Mining

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Wednesday, August 31 2016

Resolute Mining to pay dividends in gold bullion

Shareholders in Resolute Mining will have the option of collecting dividend payments in gold bullion, under a new policy believed to be the first of its kind in the world.

Shareholders who hold 5,000 or more shares in the company can elect to receive dividends in gold bullion paid into a personal account held with The Perth Mint.

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Tuesday, August 30 2016

Australian Gold Output Hits 15-Year High

According to Surbiton, gold output for the period totalled 292 tonnes, or near 9.4 million ounces, for 2015/16, some five tonnes or two percent more than in the previous financial year. Production for the June 2016 quarter was 74 tonnes, about two tonnes or three percent greater than for the March 2016 quarter.

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Wednesday, August 17 2016

These Aussie gold rivals just raised $74 million by selling mines to China, Canada

Australian gold miners Evolution Mining (ASX:CAH) and Northern Star Resources (ASX:NST) have inked two key deals, for a combined $74 million (A$96 million) within 24 hours of one another, to sell some of their higher-cost local operations.

Evolution, Australia’s second-largest bullion miner, said Tuesday it would sell its Pajingog mine and surrounding exploration claims in North Queensland to an emerging Chinese miner for up to US$40 million (A$52 million)

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Tuesday, August 16 2016

Peak Gold?

From 1990 to 2014, mining companies discovered some 1.66 billion ounces of gold in 217 major discoveries.

Over the same period the industry has produced 1.84 billion ounces of gold. Discoveries have not been keeping pace with production.

Significant discoveries are diminishing and the trend is accelerating.

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CEO Paid $1 a Year Bets Smaller Miners to Reap Bigger Gains

“The seniors have blown themselves out of the water,” the former CEO and founder of Goldcorp Inc. said in an interview in Vancouver. “They’re just going to be ships rising in the tide. It’s going to be the intermediate and juniors who have the big runs in this cycle, and that’s where I want to be.”

That trend has already begun. Gold companies listed on the Venture and Toronto Stock Exchange with a market value of less than C$2 billion have climbed on average 247 percent this year, while their larger peers are up 125 percent, according to data compiled by Bloomberg.

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Monday, August 15 2016

Gold and silver miners set to raise or resume dividend payments

Gold and silver miners are increasingly looking to raise or resume dividend payments, highlighting the renewed confidence in the sector driven by this year’s rise in precious metal prices.

“The amount of free cash flow the industry is generating has increased significantly in recent months,” said Jonathan Guy, analyst at Numis in London. “Gold is up and costs have been falling and so there is much more potential for companies to resume or increase dividends. The market is going to be looking for companies to deliver messages on higher payouts.”

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Thursday, July 28 2016

Gold Poised for Record as Yields Sag, Most Profitable Miner Says

“People still don’t really have full weighting in their portfolios in the gold space,” Boyd said. “There’s still a large collection of generalist investors that don’t own many gold stocks, and I think their general view is that they may have missed this run and our view is that we’re just getting started."

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Gold miners keep chipping at costs, debt even as profits climb

Gold bullion prices have increased 26 percent this year and profits have risen, but the world's biggest gold miners are still paring costs and selling assets to chip away at debt rather than boosting spending.

Some investors had expected mining companies to lift spending on exploration, expansion or dividends during a largely upbeat financial reporting season, rather than keep shaving costs.

"They're still, by and large, in cost-cutting mode and hunkering down, even though conditions have improved over the last five or six months," said Jeremy Sussman, global mining analyst at Clarksons Platou Securities in New York.

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Wednesday, July 27 2016

‘Impending gold production cliff’ may deliver a jolt to prices

Gold discoveries peaked in 2007 and production will soon follow, strengthening the value of the yellow metal and possibly fueling a boom in mergers and acquisitions in the gold-mining sector, according to Sprott Asset Management.

Discoveries of gold has collapses since then, “despite exploration budgets increasing by 250% from 2009 to 2012,” Sprott’s gold team said in a recent note.

They offered this image as an illustration of the “impending gold production cliff”:

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Friday, July 15 2016

Red-hot rally in gold and silver cools streaming deal bonanza

With bullion up 25 percent since January, precious metals miners are once again able to raise money in the equity markets, reducing the need to obtain funds in exchange for a portion of future mine output at discounted prices.

Global gold companies have raised nearly $3.2 billion in equity, up 16.5 percent jump on the year, Thomson Reuters data shows.

Meanwhile, the value of top streaming deals fell nearly 40 percent to some $640 million in the first five months of 2016 versus 2015, Scotiabank estimates.

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Thursday, June 30 2016

Cheap Gold Mines Disappear as Buyers Splurge for Surging Bullion

So much for the run on cheap gold mines. Producers who were forced by slumping prices to unload assets last year are regaining leverage.

With bullion off to its biggest rally to start a year in four decades aided by the U.K.’s vote to quit the EU mine buyers are paying higher premiums and the pace of deals is accelerating, data compiled by Bloomberg show. The value of reserves held by major producers has almost doubled since the third quarter of last year, according to Bloomberg Intelligence.

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Thursday, June 16 2016

China's exhausting its gold reserves at 5 times the global rate

Notably, China's production-to-reserves ratios for gold and iron ore are 23.5% and 19.2% respectively. In comparison, global usage rates for gold and iron ore are at just 4.9% and 3.8% respectively.

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Thursday, June 9 2016

Gold firms gear up for growth as cost of mining the metal falls

The cost of mining gold for the world’s top producers dropped more than 7% in the first three months of the year as most companies ignored the metal price’s spike and continued efforts to straighten out their books, a new report shows.

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Top miners squandered $200 billion during boom

There are many startling statistics in PwC's latest report into the performance of the world's 40 largest mining companies which the management consultants called a "race to the bottom".

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Wednesday, June 8 2016

After five lean years, gold miners gear up for growth

For the first time in five years, Barrick Gold and other bullion miners are getting ready to expand, breaking from their monologue on cutting costs and debt because of tumbling gold prices.

Backed by healthier balance sheets, a 17 percent rise in the price of gold since January to $1,244 an ounce and new investors, miners from Canada to Australia and South Africa are studying ways to raise production.

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Wednesday, June 1 2016

Here Are the World’s Top 10 Gold Producing Mines

Gold output across the globe hit an all-time high in 2015, climbing 1.8 percent to 3,211 tonnes. Much of this growth was led by Mexico, whose output increased double digits (18 percent) from 112 tonnes in 2014 to 133 tonnes last year. Indonesia grew 20 percent, Kazakhstan 29 percent.

This year, global production is expected to level out as project development budgets were slashed during the three-year gold bear market. But with gold prices rebounding, miners are in a good position to be much more profitable.

Below, explore and discover the world’s top 10 gold producing mines.

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Thursday, May 12 2016

Global gold output to remain weak despite price recovery

Global gold mine output will remain depressed this year despite a major recovery in the precious metal prices, which are up almost 20% since January, a new report by BMI Research says.

As miners remain focused on cutting costs and divesting from non-core assets, the analysts forecast global gold production to increase slightly, from 98.4 million ounces (moz) in 2016 to 106 moz by 2020, averaging 1.8% growth.

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Monday, April 11 2016

China Goes Prospecting for World’s Gold Mines

Chinese gold miners are aggressively scouting for overseas acquisitions, encouraged by historically low gold prices that could help them scoop up assets cheaply.

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Wednesday, March 30 2016

World top 10 gold producers – countries and miners

The last year has seen changes in global gold production rankings, both by country and company.

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Friday, March 25 2016

Once reviled, gold hedging makes an unexpected return

After all, hedging is the gold industry’s ultimate dirty word. It became such a toxic subject during the last decade that most chief executives decided that even talking about it was off limits. And New Gold is led by Randall Oliphant, who headed up Barrick Gold Corp. back when it had the biggest — and most reviled — hedge book in the business.

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