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Tag Archives: Gold

3 reasons to be bullish on gold in 2016


Gold prices recently hit yet another five-year low, but HSBC is calling for a bounce back in 2016. James Steel, the firm’s chief precious metals analyst, highlighted three primary reasons to get a little more bullish on bullion. The first is emerging-market demand for gold, particularly the likelihood of increased …

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Be ready to buy gold equities: J.P. Morgan


Most analysts are cautious on gold these days, especially since the market anticipates a rate hike from the U.S. Federal Reserve next week. But there is some mild optimism seeping into the forecasts for 2016, including the one from J.P. Morgan analyst John Bridges, who pointed out that gold has …

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Centerra Gold shares slide after Kyrgyzstan halts talks over Kumtor project


BISHKEK/TORONTO — Kyrgyzstan’s government said on Tuesday it had stopped talks with Canada’s Centerra Gold on restructuring their joint Kumtor project because the current agreement “ran counter to the country’s national interests.” The decision, the latest twist in a drawn-out tussle over the mine’s fate, sent shares in Centerra sliding …

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Eldorado Gold Corp shares plunge 19% after company suspends most activities in Greece


Over several years, Eldorado Gold Corp. earned a reputation for getting mines built in challenging countries where its rivals struggled. But in Greece, that reputation is being seriously tested. The Vancouver-based miner’s stock plunged 19 per cent to $3.53 on Tuesday after it announced the suspension of most of its …

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Eldorado Gold Corp suspends much of its mine construction in Greece as permit delays continue


Canadian miner Eldorado Gold Corp on Monday said it was suspending much of its mine construction and development in Greece after a year of confrontations with the Greek government that included permits being revoked and delayed by the state. Eldorado said it would suspend construction at its Skouries project and …

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Lundin Gold Inc completes development agreement for Ecuador Fruta del Norte project


TORONTO — Canadian mining company Lundin Gold Inc said on Thursday it will pay the government of Ecuador an advance royalty of $65 million under an agreement setting out the financial terms for development of its Fruta del Norte project. A windfall tax will not apply until Lundin has recouped …

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Eldorado Gold wins appeal of Greek mining ban


ATHENS — Greece’s top administrative court has annulled the government’s decision last year to revoke Eldorado Gold’s mining licence, according to court documents published on Wednesday. The Canadian mining company had appealed to Greece’s top court to overturn the ban on its plans to develop gold mines in a forested …

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Barrick Gold Corp shares are sinking this morning after warning of $3-billion writedown


TORONTO — Barrick Gold Corp. shares were lower in pre-market trading, following its advance notice of a US$3-billion asset writedown. Barrick (TSX:ABX) says it will be writing down the value of its stalled Pascua-Lama mining project on the border of Chile and Argentina and its Pueblo Viejo gold operation in …

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Detour Gold targets lifted on improved mine plan


Shares of Detour Gold Corp. have jumped more than 10 per cent in the last two days as several analysts heaped praise on the company for its new mine plan and hiked their price targets. Detour, which operates a massive open-pit mine in Northern Ontario, announced the updated plan on …

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Eldorado Gold Corp warns of US$1.6 billion write down after halting work in Greece


Eldorado Gold Corp said it expects to write down the value of its assets in Greece by US$1.2 billion-US$1.6 billion, after the Canadian miner suspended majority of mine construction and development in the European country. The company also forecast 2016 gold production of 565,000-630,000 ounces on Monday, much lower than …

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