Royal Gold (Nasdaq:RGLD), Allied Nevada Gold (AMEX:ANV), Centerra Gold (TSE:CG) moved up with the broader gold market in response to the misguided implementation of another round of inflating, or quantitative easing, by the Federal Reserve.
The U.S. dollar plummeted in value as gold prices rose to new record highs today, with spot gold rising to over $1,386 an ounce, an increase of over $37.90.
Royal Gold was trading at $51.46, gaining $1.13, or 2.25 percnet as of 3:31 PM EDT. Allied Nevada was up to $26.82, gaining $1.71, or 6.81 percent. In Toronto, Centerra Gold traded at $19.13, rising $0.25, or 1.32 percent.
The majority of gold miners were up today, some rising as high as 7 percent or more.
Showing posts with label Royal Gold. Show all posts
Showing posts with label Royal Gold. Show all posts
Thursday, November 4, 2010
Tuesday, October 12, 2010
Teck (NYSE:TCK) Starts Commercial Copper Production at Carmen de Andacollo
Teck Resources Limited (NYSE:TCK) said it has launched commercial copper production at its Carmen de Andacollo project in Chile.
As of October 1, 2010, production results will be credited to earnings that had been capitalized during the process leading up to the commercial production launch.
Teck's senior vice president of copper, Roger Higgins, said, “We are very pleased to have achieved this milestone. Our strong ramp up performance reflects good design, fast operational learning and close cooperation between the project development and operations teams.”
The development time usually takes from 18 to 24 months, and Teck was able to accomplish it in a short 7 months.
Costs for the project came in at about $440 million.
Carmen de Andacollo has a projected mine life of close to 20 years, with an estimated annual production of 80,000 tons of copper and 55,000 ounces of gold.
Royal Gold (Nasdaq:RGLD) acquired a 75 percent stake in the gold production of the mine in 2009.
As of October 1, 2010, production results will be credited to earnings that had been capitalized during the process leading up to the commercial production launch.
Teck's senior vice president of copper, Roger Higgins, said, “We are very pleased to have achieved this milestone. Our strong ramp up performance reflects good design, fast operational learning and close cooperation between the project development and operations teams.”
The development time usually takes from 18 to 24 months, and Teck was able to accomplish it in a short 7 months.
Costs for the project came in at about $440 million.
Carmen de Andacollo has a projected mine life of close to 20 years, with an estimated annual production of 80,000 tons of copper and 55,000 ounces of gold.
Royal Gold (Nasdaq:RGLD) acquired a 75 percent stake in the gold production of the mine in 2009.
Thursday, August 12, 2010
Royal Gold (Nasdaq:RGLD) Misses Fourth-quarter Earnings
Royal Gold (Nasdaq:RGLD) reported earnings of $10.5 million, or 21 cents a share for the fourth quarter, an increase from $7.1 million, or 18 cents a share, in the same quarter last year.
That missed analysts' expectations of earnings per share of 24 cents.
Revenue for the quarter increased to $40.7 million, a record for Royal Gold, and was an 83 percent jump over the $22.3 million in revenue generated last year.
The overall fiscal year, which ended June 30, had Royal's revenue reaching $136.6 million, up from the $73.8 million generated in the full year 2009.
Net income for the year dropped to $21.5 million, or 49 cents a share, down from $38.3 million, or $1.09 a share, in fiscal 2009.
Most of that was related to the acquisition of International Royalty Corp. for $660 million.
Royal Gold generates revenue from royalties on precious metals.
That missed analysts' expectations of earnings per share of 24 cents.
Revenue for the quarter increased to $40.7 million, a record for Royal Gold, and was an 83 percent jump over the $22.3 million in revenue generated last year.
The overall fiscal year, which ended June 30, had Royal's revenue reaching $136.6 million, up from the $73.8 million generated in the full year 2009.
Net income for the year dropped to $21.5 million, or 49 cents a share, down from $38.3 million, or $1.09 a share, in fiscal 2009.
Most of that was related to the acquisition of International Royalty Corp. for $660 million.
Royal Gold generates revenue from royalties on precious metals.
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