Gold Trades Flat; Detour Gold Secures $135-million Cushion
Detour Gold, a mid-tier company sitting on what could be the largest gold mine in Canada, received an injection of cash this week.
Detour Gold, a mid-tier company sitting on what could be the largest gold mine in Canada, received an injection of cash this week.
Gold bugs had something to celebrate this week when Thomson Reuters GFMS stated in a report that gold will reach record highs in 2013.
The fiscal cliff may have been averted, causing gold to spike, but it's not all good news for the precious metal, which lost ground on Thursday.
Goldcorp Inc.(TSX:G, NYSE: GG) announced quarterly revenues of $1.5 billion for Q3, which set a new record.
Candente Gold Corp. (TSX:CDG) announced that Goldcorp Mexico, a subsidiary of Goldcorp Inc. (TSX:G,NYSE:GG), plans to keep its 30 percent stake in the Mexico-based El Oro gold-silver project.
J. Paul Rollinson, the newly-appointed CEO of Kinross Gold Corp. (TSX:G,NYSE:KGC), announced that Brant Hinze has been appointed to the position of chief operating officer. Prior to the promotion, Hinze was Kinross' executive vice president.
Though Goldcorp reported a quarterly gold production increase, it seems 2012 will not be the year the company expected it to be.
The Financial Post reported that the share price for Goldcorp (TSX:G) dropped more than 9 percent on Wednesday after analysts cut their price targets following a reduction in the company's 2012 guidance due to lower production and higher costs.
Goldcorp Inc. (TSX:G,NYSE:GG) announced that it produced 578,600 ounces of gold during the second quarter of 2012, a 10 percent increase, and released updated cash cost guidance information.
With gold prices climbing ever higher and a new regime in place, Haiti may finally be able to realize its gold potential, but risks still remain.
Get our independent commentary on gold trends and companies delivered to your inbox.