Gold miners set for strong Q2 despite cost pressures
GOLD producers are on track to post substantially higher second-quarter earnings on the back of firmer bullion prices, though rising energy costs tied to the Iran war likely…
A spat over share buy-backs a happy problem for gold investors
ANGLOGOLD Ashanti on July 13 urged shareholders to support a resolution to buy back up to $2bn worth of its own shares after proxy advisory ISS questioned the tactic. “Given the…
Pan African gold project draws investor interest
PAN African Resources said it had received offers from potential co-investors in a proposed underground gold expansion in South Africa. The miner announced in February it was…
Gold miners yet higher as bullion reaches fresh peak
SHARES in gold mining companies surged on Monday after bullion prices climbed to a record $5,100 per ounce, extending a historic rally fuelled by safe-haven demand amid…
Activist investor emerges as candidate for Barrick role
ACTIVIST investor Mick McMullen has positioned himself as a contender for the CEO position at Barrick Mining, telling The Globe and Mail that major shareholders have approached…
Elliott stake fuels Barrick restructure talk
ACTIVIST investor Elliott Management has acquired a substantial position in Barrick Mining, intensifying speculation that the world’s second-largest gold producer could pursue a…
Wind in their sails? How AngloGold and Gold Fields stack up
SOUTH African gold miners have sought valuation parity with their North American rivals for decades, largely by chasing offshore expansion. Gold mines in South Africa are deep,…
Asante Gold unveils $470m balance sheet refresh
GHANA miner Asante Gold said on Wednesday it had concluded terms for a recapitalisation of its balance sheet in which it will raise $470m. The funds will contribute towards…
Asante Gold raises US$100m in share issue
CANADA’S Asante Gold Corp. said on Wednesday it had raised US$100m through the sale of shares to a strategic investor. About 90.7 million shares were sold at C$1.50/share for…
Asante Gold to join bidding for Ghana mine Akyem
ASANTE Gold Corporation plans to join the bidding for Newmont’s Ghana mine Akyem which the US miner deemed non-core following its acquisition of Newcrest last year. “We expect to…
Kinross concludes sale of Chirano mine to Asante Gold for $225m in cash and shares
KINROSS Gold said it had completed the sale of its stake in Chirano, a gold mine in Ghana for $225m in cash and shares. The buyer is Asante Gold Corporation which in August last…
Gold Fields’ Griffith has some tough talking to do as rival bid for Yamana tipped to enter fray
SHARES in Gold Fields closed a fifth lower in the US yesterday suggesting the South African firm’s CEO Chris Griffith has some difficult discussions ahead with shareholders who…
Calderon says AngloGold fighting against “scars of the past” in effort to narrow discount to rivals
ANGLOGOLD Ashanti was facing a credibility problem in which short-term gains were being outweighed by “scars from the past”, said Alberto Calderon, the group’s CEO since…
Kinross Gold to exit Ghana after agreeing $225m cash and share deal sale of Chirano
KINROSS Gold has added to its proposed Russian mine divestments with an agreement to sell its 90% stake in the Chirano operation in Ghana for $225m in shares and cash. Chirano…
Kinross puts cost of Tasiast mill refurb at $20m as mine returns to production
KINROSS Gold said the cost of restarting a mill hit by fire at its Tasiast mine in West Africa’s Mauritania in June would come it at $20m, well below the $35m budget. As a result…
Caledonia Mining narrows 2021 production guidance after strong third quarter
CALEDONIA Mining Corporation narrowed full year guidance for 2021 to the top end of 65,000 to 67,000 ounce guidance following a strong third quarter. Production for the three…
Kinross concludes agreement with Mauritania adding $10m payment to 2020 pact
KINROSS Gold Corporation is to pay the Mauritania government $10m related to “disputed matters” and has also agreed to put two representatives from the West African government on…