Agnico-Eagle (NYSE:AEM), AngloGold Ashanti (NYSE:AU), Gold Fields (NYSE:GFI), Yamana Gold (NYSE:AUY) and NovaGold Resources Inc. (AMEX:NG) all closed down in trading Wednesday as a stronger dollar slightly pressured precious metals and base metals.
Palladium closed down and platinum settled flat.
Concerns over the sovereign debt crisis in Europe outweighed U.S. dollar concerns, putting downward pressure on gold and other metals, as the greenback gained against the euro.
The most actively traded gold contract, for August delivery, dropped $5.30, or 0.3 percent, to settle Wednesday at $1538.70 an ounce on the Comex division of the New York Mercantile Exchange.
Silver for July delivery was down 1.2 percent to settle at $36.62 an ounce.
Overall, expectations are market conditions will continue to favor gold and silver prices, pushing them higher over the next several months.
NovaGold closed Wednesday at $10.34, falling $0.71, or 6.43 percent. Yamana ended the session at $11.76, dropping $0.26, or 2.16 percent. Gold Fields closed at $14.62, down $0.36, or 2.40 percent. AngloGold Ashanti ended the day at $43.08, declining $0.79, or 1.80 percent. Agnico-Eagle closed at $61.49, losing $2.28, or 3.58 percent.
Showing posts with label Anglogold Ashanti. Show all posts
Showing posts with label Anglogold Ashanti. Show all posts
Thursday, June 9, 2011
Tuesday, April 20, 2010
Lihir Gold (ASE:LGL) Bidding War About to Start?
There's no doubt Lihir Gold has positioned itself strongly as a takeover target, and after they rebuffed the offer from Newcrest Mining (ASE:NCM), growing interest from major gold mining companies seems to have created the atmosphere for a robust bidding war which will make the shareholders of Lihir Gold very happy once it's over and a winner emerges.
The longer this plays out, the more names of major gold production companies are being thrown about as to having an interest in Lihir.
Major gold companies like Goldcorp (TSE:G), AngloGold Ashanti (NYSE: AU), Kinross Gold(TSE:K), Newmont Mining (NYSE:NEM) and Barrick Gold (TSE:ABX) have all been mentioned as potential suitors of the company, and indeed have had talks of some sort with Lihir over the possibility of acquiring them.
Now the problem for these companies is they are going to have to pay a hefty premium, as there is no hiding the interest in Lihir, and their significant reserves offer a great boost to whoever buys them, although it's not going to be cheap.
A recent report stated Lihir should gold production at Lihir should increase to 1.5 million ounces as of 2016, not a insignificant amount by any measure.
The longer this plays out, the more names of major gold production companies are being thrown about as to having an interest in Lihir.
Major gold companies like Goldcorp (TSE:G), AngloGold Ashanti (NYSE: AU), Kinross Gold(TSE:K), Newmont Mining (NYSE:NEM) and Barrick Gold (TSE:ABX) have all been mentioned as potential suitors of the company, and indeed have had talks of some sort with Lihir over the possibility of acquiring them.
Now the problem for these companies is they are going to have to pay a hefty premium, as there is no hiding the interest in Lihir, and their significant reserves offer a great boost to whoever buys them, although it's not going to be cheap.
A recent report stated Lihir should gold production at Lihir should increase to 1.5 million ounces as of 2016, not a insignificant amount by any measure.
Monday, April 5, 2010
Golden Star (AMEX:GSS), Newmont (NYSE:NEM), AngloGold Ashanti (NYSE:AU) and Gold Mining in Africa
Gold mining in Africa
Golden Star (AMEX:GSS), Newmont Mining(NYSE:NEM) and AngloGold Ashanti (NYSE:AU) have learned doing business in Africa is an unpredictable endeavor, fraught with uncertainty.
Not only is doing business hard, but the fallout from alleged abuses and disagreements with the governments in the region, which in many cases are corrupt, make it risky at best, as it can give a company a bad name globally, whether or not assertions are true or not.
It's impossible to reveal how many disruptions are happening, and in some cases it could be the fault of the companies, but the problem is there is so much going on in Africa, separating truth from fiction is impossible.
This isn't a business for the fainthearted, and the uncertainties in Africa make it worthwhile checking the percentage of overall business these gold mining companies are doing in Africa, as it will definitely affect their bottom line.
Golden Star (AMEX:GSS), Newmont Mining(NYSE:NEM) and AngloGold Ashanti (NYSE:AU) have learned doing business in Africa is an unpredictable endeavor, fraught with uncertainty.
Not only is doing business hard, but the fallout from alleged abuses and disagreements with the governments in the region, which in many cases are corrupt, make it risky at best, as it can give a company a bad name globally, whether or not assertions are true or not.
It's impossible to reveal how many disruptions are happening, and in some cases it could be the fault of the companies, but the problem is there is so much going on in Africa, separating truth from fiction is impossible.
This isn't a business for the fainthearted, and the uncertainties in Africa make it worthwhile checking the percentage of overall business these gold mining companies are doing in Africa, as it will definitely affect their bottom line.
Thursday, March 4, 2010
AngloGold Ashanti (NYSE:AU) Funding Baffin Island Gold Project
AngloGold Ashanti
AngloGold Ashanti (NYSE:AU) will fund the Baffin Island Gold Project, with Commander Resources Ltd. running the operational side of the venture.
There are two targeted areas which the $4.55 million in financing will help explore through 2010.
Commander Resources Ltd. owns 100 percent of the project, and the program is working under the of the $20 million Farm-In JV Agreement.
AngloGold Ashanti
AngloGold Ashanti (NYSE:AU) will fund the Baffin Island Gold Project, with Commander Resources Ltd. running the operational side of the venture.
There are two targeted areas which the $4.55 million in financing will help explore through 2010.
Commander Resources Ltd. owns 100 percent of the project, and the program is working under the of the $20 million Farm-In JV Agreement.
AngloGold Ashanti
Wednesday, March 3, 2010
AngloGold Ashanti (NYSE:AU): Peak Gold?
AngloGold Ashanti Search for Gold in Oceans
AngloGold Ashanti (NYSE:AU) is starting to comb the bottom of the sea for gold deposits as the demand for gold increases and the supply continues to diminish.
There is no end to gold demand in sight, yet there is an end to easy to access gold fields, and not only are the ocean floors a major place to look, but even hostile regions of the world are being considered a places to mine the yellow metal.
For AngloGold, they're in a joint venture with De Beers, the diamond producer for the purpose of exploring underwater locations for possible gold deposits.
The beginning operations are off the coast of New Zealand, and from there they could go as far away as Canada or South America, depending on their success over the next several years.
AngloGold Ashanti Search for Gold in Oceans
AngloGold Ashanti (NYSE:AU) is starting to comb the bottom of the sea for gold deposits as the demand for gold increases and the supply continues to diminish.
There is no end to gold demand in sight, yet there is an end to easy to access gold fields, and not only are the ocean floors a major place to look, but even hostile regions of the world are being considered a places to mine the yellow metal.
For AngloGold, they're in a joint venture with De Beers, the diamond producer for the purpose of exploring underwater locations for possible gold deposits.
The beginning operations are off the coast of New Zealand, and from there they could go as far away as Canada or South America, depending on their success over the next several years.
AngloGold Ashanti Search for Gold in Oceans
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