Monthly Archives: September 2016 - Page 2

Gold Mining News

Kinross eyes expansions at its new gold mines in Nevada

Canada’s Kinross (TSX:G) (NYSE:KGC), the world’s fifth largest gold producer, believes it can increase reserves at its Bald Mountain and Round Mountain mines, which it acquired from Barrick Gold (TSX, NYSE:ABX) late last year.

The company, which is looking to strengthen its portfolio in North America, has increased its exploration budget for the year by 50% to $9 million as “promising results” at Bald Mountain have “reaffirmed Kinross’ confidence in the site’s significant upside potential,” it said in a market update ahead of an analyst tour this week.

At Bald Mountain, Kinross believes it can increase current mineral reserve estimate and extend expected mine life by developing two sets of deposits in the near term.

Kinross, which operates two mines in Russia and also owns the problem-plagued Tasiast operation in Mauritania, also see great potential in its other Nevada-based mien — Round Mountain. Here the firm continues with an improvement initiative launched in 2014 aimed at enhancing heap leach performance. This process solution management heap leach program is expected to produce approximately 200,000 to 230,000 gold-equivalent ounces over the life of the mine at a low cost of $200 to $400 per gold-equivalent ounce, which includes production cost of sales and capital expenditures, Kinross said.

The company recently completed a scoping study for a potential expansion at Round Mountain known as “Phase W,” which added approximately 2.4 million gold ounces to the estimated inferred mineral resource.

The Toronto-based miner was already the operator of the Round Mountain mine when it bought the other half from Barrick. As part of that deal, which also saw Kinross acquiring neighbouring Bald Mountain, the two companies formed a joint venture to explore a large land package on the property.

The company noted that the permitting process to allow expansion of exploration and mining activities is entering its final days of completion with no substantive issues remaining. The permit covers the expanded mine plan, numerous under-explored pits (including the Vantage Complex and Yankee, another promising target in the South area), and provides significant flexibility for future growth, such as allowing for extensive heap leach capacity.

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Kinross eyes expansions at its new gold mines in Nevada

Child labour group takes aim at electronic manufacturers that use gold

Sony, Ericsson and Foxconn receive a poor rating on their efforts on combating child labour and gold mining, according to Stop Child Labour.

The activist group ranked ten electronic companies on how well it is performing in eradicating child labour from gold mining.

According to the World Gold Council, the electronics industry consumed 63.9 tonnes of gold in the first quarter of 2016, about 5% of total demand.

Companies were ranked on seven criteria such as “Can the company trace back the origin of gold in its products?” and “Has the company a policy on the eradication of child labour?” The group estimates that more than 1 million children work in gold mines around the world.

“Only two companies, the Dutch Fairphone and the multinational Microsoft show that they are actively involved in gold mining initiatives in which the eradication of child labour is included,” writes in Stop Child Labour.

“Not even one of the electronics companies knows exactly where the gold comes from and whether child labour occurs in these mines.”

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Gold Fields Limited

Gold Fields Limited (GFI) Shares are Down -8.95%

During the past 4 weeks, traders have been relatively bearish on Gold Fields Limited (GFI), hence the stock is down -6.41% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -8.35% relative to the S&P 500. The 4-week change in the price of the stock is -6.6% and the stock has fallen -8.95% in the past 1 week.

Company shares have received an average consensus rating of Hold for the current week The stock has recorded a twenty day Moving Average of 7.16% and the fifty day Moving Average is 2.47%. Gold Fields Ltd. is up 65.71% in the last three month period. Year-to-Date the stock performance stands at 110.1%.

Gold Fields Limited (GFI) stock is expected to deviate a maximum of $1.52 from the average target price of $4.83 for the short term period. 2 Street Experts have initiated coverage on the stock with the most promising target being $6 and the most muted being $4.


Gold Fields Limited (NYSE:GFI): stock turned positive on Friday. Though the stock opened at $5.9, the bulls momentum made the stock top out at $6.075 level for the day. The stock recorded a low of $5.73 and closed the trading day at $5.8, in the green by 0.69%. The total traded volume for the day was 7,273,988. The stock had closed at $5.76 in the previous days trading.

Gold Fields Limited (Gold Fields) is a producer of gold with eight operating mines in Australia, Ghana, Peru and South Africa. The Company in Australia operates four mines that include St Ives, an operation consisting of a mix of owner mined open pit and underground operations; Agnew/Lawlers, a mine located in the Norseman-Wiluna Greenstone Belt; Granny Smith, a mine located within the Yilgarn Craton, and Darlot, a mine located in the Eastern Goldfields Province of the Yilgarn Craton. In Ghana, it operates two mines, Tarkwa and Damang, which are located in south-western Ghana. In Peru, it operates Cerro Corona mine, which is located 1.5 kilometers west-northwest of the village of Hualgayoc and around 600 kilometers north-northwest of the capital city Lima. In South Africa, it operates South Deep Gold Mine, located in the districts of Westonaria and Vanderbijlpark (Gauteng province). The Companys other projects include Salares Norte, Chile, and Far Southeast Project, Philippines.

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Don’t Miss: Twenty-First Century Fox, Inc. (NASDAQ:FOXA), Gold Fields Ltd. (NYSE:GFI), Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC), Trustmark Corporation (NASDAQ:TRMK)

wenty-First Century Fox, Inc. (NASDAQ:FOXA) traded 8.06 Million shares on last trading day with closing price of $24.54. Company gross margin stands at 37.30% whereas its return on investment (ROI) is 9.10%. Stock value has moved between $22.51 – 31.06 in last one year. Analyst’s mean target price for Twenty-First Century Fox, Inc. (NASDAQ:FOXA) is $32.55 while analysts mean recommendation is 2.10. FOXA EPS growth this year and EPS growth next year is -63.90%, 13.37% respectively.

Twenty-First Century Fox, Inc. (NASDAQ:FOXA) said Stacey Snider would take over as chairman and chief executive of its film studio business on Sept. 1 as Jim Gianopulos was stepping down earlier than planned. The company had said in June that Snider would replace Gianopulos in June 2017. Gianopulos has headed Twentieth Century Fox film studio for 16 years.

Gold Fields Ltd. (NYSE:GFI) shares moved to $5.80 after starting the day at $5.90 on Friday. GFI market capitalization is 4.76B with 9059 employees. Analyst’s mean target price for Gold Fields Ltd. (NYSE:GFI) is 6.90 while analysts mean recommendation is 3.00. Its weekly performance is -8.95% while year to date (YTD) performance is 110.10%.

Gold Fields Ltd. (NYSE:GFI) said that, Chief executive Nick Holland told press at the media roundtable following the interim results presentation on Thursday that they (management) were surprised at how many questions they received regarding the company’s South Deep project. “We do actually have a 1.8 million ounce business outside of South Deep,” he said to some laughter. But it is South Deep he is now quite happy talking about. The project had become a bit of a monkey on the back of the company as it struggled to meet production targets and control costs, something that was especially problematic as the project accounts for 75% of Gold Fields entire reserve base.

On last trading day Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) traded 8.13 Million shares and was closed at 7.36. Analyst’s mean target price for ERIC is 3.99 while analysts mean recommendation is 3.20. Company is -27.37% away from its 52 week high and is moving 5.75% ahead of its 52 week low. ERIC Gross Margin is 34.70% and its return on assets is 4.90%. Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) quarterly performance is -5.03% while its price to sale ratio is 0.85 and price to book ratio is 1.47.

Telefonaktiebolaget LM Ericsson (publ) (NASDAQ:ERIC) said that, Mobily has joined hands with Ericsson to introduce TDD 4×4 Mimo technology to its LTE network in the western region of Saudi Arabia. This technology will be deployed using the state-of-the-art Ericsson Radio System and L16 network software release, said a statement from the company. Using the latest 4×4 Mimo technology, Mobily subscribers can enjoy higher data speeds, increased network capacity, and an overall enhanced end-user experience, it said.

Trustmark Corporation (NASDAQ:TRMK) traded 428881 shares on last trading day with closing price of $28.08. Company return on investment (ROI) is 21.70%. Stock value has moved between $19.37 – 28.08 in last one year. Analyst’s mean target price for Trustmark Corporation (NASDAQ:TRMK) is $33.99 while analysts mean recommendation is 3.00. TRMK EPS growth this year and EPS growth next year is -6.20%, 9.19% respectively.

Trustmark Corporation (NASDAQ:TRMK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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Kenmare advances capital restructuring

The share price of LSE-listed mineral sands producer Kenmare Resources surged on Monday as the company announced it was making progress with its capital restructuring. As part of Kenmare’s aim to raise $275-million to $368-million in equity to reduce its debt, it has entered into a cornerstone subscription agreement with SGRF – a sovereign wealth fund of the Sultanate of Oman – for $100-million.

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