Friday, August 1, 2014
The Merian project will produce 300,000 to 400,000 ounces a year and is expected to start up in late 2016, the Greenwood Village, Colorado-based company said yesterday in a statement. The mine’s forecast costs in the first five years are $750 to $850 an ounce, as much as 29 percent less than Newmont’s total average in the second quarter of this year.
“At current gold prices, we estimate Merian investment could have a payback of less than four years,” Michael S. Dudas, an analyst at Sterne Agee & Leach Inc., said in a note yesterday.
The approval marks the first for a gold project of its size since gold’s 28 percent plunge last year spurred producers to rein in spending, delay expansions and sell less profitable assets to shore up their balance sheets. Newmont has sold smaller assets in Nevada and Australia, as well as holdings in Canadian Oil Sands Ltd. and Paladin Energy Ltd.
Sunday, December 29, 2013
For many investor, investing in gold in Malaysia works as an asset diversification that could lower the overall risk in an investment portfolio and also a hedge against inflation and fluctuation in the US dollars.
Monday, December 16, 2013
Sunday, December 15, 2013
As for physical precious metals which have suffered a brutal year, Jeff says, "The ONE BANK wants to keep people out of the precious metals sector at ALL COSTS and so it is doing literally everything in its power to discourage people from putting their money in gold and silver. So ask yourself this, if the Bankers want you to get your money out of gold and silver, more than anything else in the world, than isn't gold and silver exactly the place you want to be?"
Thursday, December 12, 2013
In 2012 alone, eight mining funds raised private equity of $8.5-billion as mining majors wrote off asset value of $75-billion in impairments