A recalibrated valuation model by GMP Securities shows that some gold companies can weather a gold price drop better than others.
Articles Tagged "Centerra Gold"
Centerra Gold Inc. (TSX:CG) said on Saturday that road access was re-established and power restored to its Kumtor mine in Kyrgyzstan, following an operational suspension last week.
The gold market had some much-needed good news on Thursday, with the price rising $22 after Asian stock markets tanked.
Nations that were formerly part of the USSR are largely overlooked, but not by everyone.
Mining Weekly reported that Kyrgyzstan has given Centerra Gold a deadline in three months to amend their deal for the Kumtor mine, accusing them of causing environmental damage and underpayment. As quoted in the market report:
Gold took a big hit mid-week when the US Federal Reserve suggested an end to quantitative easing, but the precious metal rallied on Thursday to regain some of the lost ground.
Centerra Gold Inc. (TSX:CG) released its year-end and fourth-quarter results for 2012, commenting that it recorded a net loss of $68 million, or $0.29 per share, during Q4. That's compared to net earnings of $79.4 million for the year-ago quarter.
A Russian gold company the size of Goldcorp could be formed now that Russian billionaire Mikhail Prokhorov has sold a stake in the country's biggest gold miner.
Reuters reported that Kyrgyzstan is considering backing out of its deal with Centerra Gold regarding the Kumtor Mine, in an effort to get more money from the gold miner.
Aurizon has recommended that shareholders reject a $4.6-per-share hostile bid as "inadequate and opportunistic."