Shine taken off Fresnillo as silver production set to fall this year February 26, 2019 Shares in Fresnillo sunk today as the miner warned that it was looking towards a year where prices could fall, inflation could rise and exchange rates could hit its bottom line. The figures Fresnillo grew its silver production by 5.3 per cent to 62m ounces in 2018, while gold increased 1.3 per cent to 923,000 [...]
How to ride the pound sterling rollercoaster through a no-deal Brexit February 26, 2019 With no signs of letting up, the cold winds of Brexit uncertainty blowing through parliament have been pretty chilling for the UK economy. With Theresa May revealing on Sunday that MPs might not vote on her new deal until 12 March, and rumours swirling that Brexit may be delayed until May or beyond, businesses are [...]
‘Loser’: Gold bosses locked in war of words after Barrick bids for Newmont February 26, 2019 The bosses at two of the world’s biggest gold miners have been trading insults after a proposed mega-merger which would make them colleagues. Barrick Gold chief executive Mark Bristow, who yesterday launched an $18bn (£14bn) hostile bid for Newmont, told Reuters his counterpart at the company is a “loser”. Read more: Barrick Gold launches $18bn [...]
Leaked information on M&A deals leads to higher valuations February 26, 2019 | City Talk Leaking information on mergers and acquisitions (M&A) deals before any public announcement of the transaction added an extra US$21m to the average value of deals announced in 2016 that leaked, according to new research from Intralinks and Cass Business School. In addition to evidence of higher valuations for M&A deals that leak, the 2017 Intralinks [...]
Centamin shares fall down mine shaft on poor annual results February 25, 2019 London-listed gold miner Centamin dropped heavily today as production fell 13 per cent last year, squeezing its bottom line. Shares had fallen by around 22 per cent by the early afternoon as the company showed disappointing results for the year ended December. Read more: Barrick Gold launches $18bn hostile bid for Newmont The company said [...]
Small UK oil company Reabold surprises market with discovery off Bournemouth coast February 25, 2019 Reabold Resources has become a “considerable force” in the UK’s oil and gas sector its chief executive said today as the company surprised markets by announcing a bonus oil discovery off the coast of Bournemouth. The tiny explorer said it had found oil next to a controversial project which it started drilling earlier this month. [...]
Acquisitive Barrick Gold flexes muscles again with $18bn hostile bid for Newmont February 25, 2019 Two global gold miners could merge this year to form what would undisputedly be the world’s largest producer of the precious metal, amid increased consolidation in the sector. Giant Barrick Gold has launched a hostile bid to buy rival Newmont for a share-only deal valued at around $18bn (£14bn). Read more: Shareholders at Randgold Resources back [...]
Is this popular measure of stock market value giving a misleading “sell” signal? February 25, 2019 | City Talk One of the most widely watched measures of stock market value, the cyclically-adjusted price to earnings ratio (CAPE), has been giving off a screaming “sell” signal for the US market in the past few years. Last year it rose to a level not seen in its almost 140 year history, other than during the peak [...]
Chinese stocks leap as Trump signals delay to tariff increase in US-China trade war February 25, 2019 Chinese stocks soared to their best one-day rise in more than three years today after President Donald Trump indicated the US would postpone a tariffs hike on $200bn of Chinese imports. The US was set to increase tariffs on a vast range of goods from 10 per cent to 25 per cent this Friday, but [...]
Mining bosses to discuss safety after accident which killed hundreds February 24, 2019 A group of leaders from some of the world’s biggest mining companies will meet this week to discuss safety after a tragedy in Brazil which is thought to have killed over 300 people. Chief executives from Anglo American, BHP, Antofagasta, Glencore and Barrick Gold, among others, are expected to meet on the fringes of the [...]