BMO Capital Markets explained the mine acquisition deal in British Columbia and its likely benefits for this precious metals miner.
Gold Mining News
The decision to offload the asset is part of a restructuring process that includes laying off about 8,500 workers, roughly 30% of the company’s workforce.
While the company can now proceed with development of Olympias, is still awaiting permits for its Skouries project, the main bone of contention with Greek authorities.
And on futures markets hedge fund bulls now outnumber bears by a ratio of 20 to 1 – the highest since 2012.
Tony Lesiak, a Canaccord Genuity analyst, reported and analyzed recent results from this miner's 2017 deep drill program.
The current resource base is 1.6 million ounces of gold in the indicated category and 178,000 ounces inferred.
Greek government alleges a technical study for the company’s Madem Lakkos metallurgical plant is deficient and thereby violates environmental terms.
Mines minister Mosebenzi Zwane had pledged in writing to a court that he would not publicly say changes to an industry charter were "law" until a judicial challenge has been completed.
The miners from the Eldorado Gold mine in the Halkidiki region were protesting looming layoffs as the company said Monday it would suspend all operations in Greece.
The company was also included in the Dow Jones Sustainability North America Index for the 11th consecutive year.
The metal's move lower came as the dollar erased earlier losses to rise 0.4 percent versus a basket of currencies. A firmer dollar makes gold more expensive for holders of other currencies.
Cadia - the company's biggest and lowest-cost source of gold - led to a 55-percent fall in gold output at the mine in the June quarter.
Gold remains the dominant sector, accounting for approximately 45% of total exploration expenditure.
The deal grants Coeur access to Silvertip mine, high-grade silver-zinc-lead operation located in B.C., Canada.
The National Union of Metalworkers of South Africa (NUMSA) has demanded Glencore raise coal mining wages by 15 percent.
Mali is the third-biggest gold producer in Africa after South Africa and Ghana, and gold overwhelmingly dominates its mining sector.
Vancouver-based producer rises 33% after Supreme Court of the central American nation reinstates operating licence for world's third largest silver mine.
Acquisition makes of Alamos a top-10 gold producer in North America.
Canadian miner announces comprehensive settlement over Kumtor gold mine – Asian nation unfreezes cash and drops all environmental claims, lawsuits.
Investors in North American Nickel have waited patiently while the Vancouver-based company has made consistent and significant progress on its 100%-owned Maniitsoq nickel sulphide project. Will their loyalty be rewarded?
Mexus Gold US along with its joint venture partner, MarMar Holdings, today announced that they have produced gold in dore form as a result of its ongoing operation at the Santa Elena mine.
Citing delays in permits from the Greek government, the company said no additional investment would be made into the Olympias and Skouries projects or the Stratoni mine, which it acquired in 2012.
The diamond miner also had to halt operations at its Williamson mine as several key employees are being questioned by local authorities.
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Long before the invention of modern day maps or gunpowder, the planet’s major powers were already duking it out for economic and geopolitical supremacy.