principiante, that's terrible mate, hope you make it all back and more.
Trade safe, Im very constructive but not full on bull. Use those stops to protect your recovery, good luck
Ay GHT, we got a new intra day 12 month high, that's not all bad. Just usual big positioning for options expiry tomorrow. I'm not too taken on the detail of the report (production) latley but prefer to see the actual accounts as things can get moved around.
did you notice, Little sister was getting smashed since its announcement yesterday,,,,,,but in the end it rose very strongly.
Found this newswire interesting,,,,,,,,not so much that NCM is part of the rumour but of the expected value of the mine on sale. IF the market pays the top end then I assume that serious investors must be forecasting big gold price improvements down the road, these transactions will affect the valuations of many gold stocks if they are paid.
costs should increase as aud fell, but top line increased more, copper credits should also in theory boost margins which in turn lifts EPS and improves cashflow.
If he does deliver the big production boost things could get very interesting however.
DJ Newcrest, Hecla Mining Among Bidders for Barrick Mine in Australia
By Alistair MacDonald And Rhiannon Hoyle
Australia's Newcrest Mining Ltd. and U.S.-based Hecla Mining Co. are among the
bidders for Barrick Gold Corp.'s Australian Cowal mine, according to a source
familiar with the matter, which is on the block as the Canadian gold giant continues to
shrink its global footprint.
Among other companies to have made it through to a second round of bidding for Cowal
are Evolution Mining Ltd. and Gold Fields Ltd., according to two people familiar with the
matter.
A Barrick spokesman declined to comment.
Toronto-based Barrick in February started a process to sell the mine, as well as a
joint venture in Papua New Guinea, as it looks to shave its debt load by $3 billion this
year. The company has sold six mines for a total of $1.3 billion since 2012, five of
which are in Australia. Last month, TD Securities Inc. estimated the two assets could be worth between $800 million and $1.1 billion. Cowal alone could be worth as much as $700 million, one of the people said. The open-pit mine produced 268,000 ounces of gold last year.
Newcrest declined to comment. Its interest in Cowal comes even as it looks for a
buyer for its own Telfer copper-gold mine in Western Australia amid efforts to reduce its
debt.
Hecla Mining, the largest silver producer in the U.S., could not immediately be
reached for comment. The Coeur d'Alene, Idaho, company has been boosting its gold
output and expects to produce 185,000 ounces of the precious metal this year, according
to its website.
On Monday, Evolution announced it had reached a deal to buy the Australian mines of
La Mancha Group International BV, in a bid to create what the Sydney-based mining company
described as a "globally relevant, Australian-focused, mid-tier gold producer."
As part of that deal La Mancha agreed to take a 31% stake in Evolution and to
provide the Australian firm with up to 100 million Australian dollars (US$77.8 million)
to pursue other growth options.
Australian gold producers have become more profitable thanks to a fall in the
country's dollar, allowing them to repatriate more income for every ounce of the
U.S.-dollar-denominated metal they sell. Production costs have also fallen, declining
6.6% year-to-year in 2014, according to metals consultancy Thomson Reuters GFMS. That was
also helped by internal drives to cut costs as gold prices traded near multiyear lows. In
the same year, North American production costs rose 6.8%, GFMS said.
Gold output in Australia, the world's second-largest gold producer after China,
edged 1.8% higher last year to 272.9 metric tons, its highest level since 2003.
Write to Alistair MacDonald at [email protected] and Rhiannon Hoyle at [email protected]
