Winners were few and far between Friday, but punters couldn't resist Nevsun Resources stock after low-cost high-grade Eritrea mine delivered on all counts.
According to The Times, Rio flagged the possibility of a writedown in August.
The miner blamed low metals prices and productivity inefficiencies for the decision.
Gold price below $1,200, silver falls to 56-month low.
Value of low-grade ore stockpile at the Peñasquito mine dropped, raising average costs by $64/oz. and negatively affecting adjusted earnings by $0.04/share.
Woo served as a U.S. State Department representative in Asia for about 15 years with postings in countries including China, Japan and Australia.
Analysts and some precious metals’ sellers tend to focus on the “insurance” aspect of owning precious metals. They point out that having some in your possession helps protect your wealth in case of inflation, political unrest, or for use as an “alternate currency” during a natural disaster, war, etc.
Asset bubbles go as far back as finance and speculation themselves. In the past, there have been bubbles in everything from tulips to railroads that have made or broke fortunes.
The affected company is Planetary Resources, the U.S.-based start-up aiming to mine asteroids.
It grants the world's No.1 copper miner an injection of US$4 billion for the next four years.
The programme known as Quantitative Easing is due to be halted at the end of October, coinciding with the next meeting of the Federal Open Market Committee which is scheduled for 28/29 October 2014.
The country's ultimate purpose is to extract rare earth elements, breaking China's dominance and pushing prices down.
Corvus Gold announces most significant drill results in terms of grading and width at 100%-owned North Bullfrog project 200km northwest of Las Vegas.
David Harquail joined well-known investors ‘Lucky’ Pierre Lassonde and Seymour Schulich in 1987, when Franco-Nevada was just getting its legs. He’s been with the company ever since, currently serving as CEO.
With a well-rounded portfolio, it makes it easier to sail through turbulence in the market and come out on top.
I have always been in favor of mining companies holding back the sale of a portion of their metals when prices dip. Furthermore, they should hold reserves beyond the amount needed to run daily operations in gold and silver, not fiat cash.
The world’s biggest miner unveiled details about how it expects to meet cost-reduction and productivity improvement targets.
Paramount Gold and Silver Corp. announced Oct. 21 that new drilling at its 100%-owned San Miguel Project in northern Mexico is likely expanding the bulk minable resource in the San Francisco deposit.
For gold and silver it has been a week of two halves: first prices rallied to a peak on Tuesday, then declined to show net losses for the week on Wednesday for silver and Thursday for gold.
The World Gold Council predicts that India will import 850 to 950 tonnes of gold this year.
The move is seen by analysts as an attempt to strengthen the firm’s image.
Total worldwide budget for nonferrous metals exploration dropped to US$11.36 billion in 2014 from US$15.19 billion in 2013 — a 25% decrease.
Most people have the sense that the dollar isn’t worth what it used to be, but they may not grasp what this means in real terms.
Petroleum, met coal, iron ore production set new quarterly records. Fall in copper volumes not enough to dent 9% overall output growth.
Tough regulations and worries about reputation have made trading commodities a source of worries for bank bosses.
The giant copper miner is also planning to sell about $8 billion of bonds over the next five years to help finance a nearly $30bn investment program aimed to revamp its aging mines.
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