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Veka Wolfgang

Falling Gold Prices Delay Plans to Reopen Cononish Mine - 1 views

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    Plans to reopen the Cononish mine near Tyndrum in Stirlingshire have been delayed due to falling gold prices. Scotgold Resources said the project remained viable and would generate a cashflow of more than £39m before tax over its first seven years of operation, at current gold prices. http://deweyayca45.tumblr.com/post/51624802400/falling-gold-prices-delay-plans-to-reopen-cononish-mine
Dewey Ayca

Falling Gold Prices Delay Plans to Reopen Cononish Mine - 1 views

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    Tana Goldfields United Kingdom Plans to reopen the Cononish mine near Tyndrum in Stirlingshire have been delayed due to falling gold prices. Scotgold Resources said the project remained viable and would generate a cashflow of more than £39m before tax over its first seven years of operation, at current gold prices. But it warned that the fluctuating price had dented market confidence. As a result, Scotgold said it had decided not to seek further funding for the scheme until conditions improved. A study has predicted that once operational, the mine could produce up of 20,200 ounces of gold a year. At current prices, that would give the Cononish project a rate of return of about 37% before tax and see the initial investment repaid within 26 months of the start of production. However, Scotgold said the market remained wary after gold prices fell by more than 9% at the beginning of April, the biggest drop for 30 years. Challenging market The depressed market has made the company reconsider plans to seek additional funds to bring the mine into full production. Executive chairman John Bentley said: "The recent sharp decline in the gold price has severely dented market confidence, albeit that there has been significant positive movement since the lows recorded on 15 April 2013. "The potential to raise the required equity financing for the project is considered to be severely challenging under current market conditions. "The board has thus decided to defer an immediate raise pending an improvement in market sentiment." Mr Bentley said the firm would now not be approaching investors until the gold price "calms down". Last November, the mining company secured a pre-development loan worth nearly £1.2m from RMB Resources to help continue the drilling programme at the mine in the Loch Lomond National Park. Considering options Mr Bentley said RMB still backed the scheme and was "evaluating project debt ca
Plaire Roux

Tana Goldfields - How To Invest In Gold: A Guide To Bullion, Coins, Funds and ETF's - 1 views

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    http://www.thisismoney.co.uk/money/investing/article-1666644/How-invest-gold-including-coins-funds-ETCs-bullion.html We explain the best ways to invest in gold through funds, Exchange Traded Commodities (ETCs), bullion and coins. The first pure gold coins were struck by King Croesus of Lydia (present-day Turkey) during his reign between 560BC and 547BC - and gold coins have continued as legal tender ever since. Many years down the line, investors still love gold and the precious metal has proved a valuable winner in recent years. Going for gold: The precious metal has cooled after a spectacular rise, but investors say it is still one for the long-term. Update: Gold's recent run Gold hit record highs in September 2011, yet never went on to crack the $2,000 an ounce mark widely forecast at the time The spot gold price, which is typically measured in US dollars, hit a peak of $1,920 during that month. Some tipped it to soar beyond $2,000, but instead gold slipped and spent most of 2012 stuck in a range, shuttling back and forth between around $1,600 and $1,800. A sell-off since December 2012 has seen gold drop as share prices have climbed. The spot gold price stood at $1,571 or £1,040, at the start of this month. The dramatic falls of the past few days sent it down below £1,000 to £899 on 15 April. At $1,370 gold is down 29 per cent on the peak. However, gold bugs - as the precious metal's fans are called - say that bullion's recent dip has to be put into context. Look at a long-term chart of the gold price and you will see that even having lost almost a fifth from its peak, it is still up substantially in recent years. Gold fans say the metal is marking time and while short-term traders may lose money, the long-term fundamental case for investing, based on gold's historic store of value as nations around the world printing money, still stands up. Enlarge Marking time: While gold is off almost 20 per cent from its 2011 peak, fans says that set again
Nur Ariff

Tana Goldfields United Kingdom: How To Invest In Gold: A Guide To Bullion, Coins, Funds... - 1 views

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    http://jariocaro19.blogspot.com/2013/06/tana-goldfields-how-to-invest-in-gold.html We explain the best ways to invest in gold through funds, Exchange Traded Commodities (ETCs), bullion and coins. The first pure gold coins were struck by King Croesus of Lydia (present-day Turkey) during his reign between 560BC and 547BC - and gold coins have continued as legal tender ever since. Many years down the line, investors still love gold and the precious metal has proved a valuable winner in recent years. Going for gold: The precious metal has cooled after a spectacular rise, but investors say it is still one for the long-term. Update: Gold's recent run Gold hit record highs in September 2011, yet never went on to crack the $2,000 an ounce mark widely forecast at the time The spot gold price, which is typically measured in US dollars, hit a peak of $1,920 during that month. Some tipped it to soar beyond $2,000, but instead gold slipped and spent most of 2012 stuck in a range, shuttling back and forth between around $1,600 and $1,800. A sell-off since December 2012 has seen gold drop as share prices have climbed. The spot gold price stood at $1,571 or £1,040, at the start of this month. The dramatic falls of the past few days sent it down below £1,000 to £899 on 15 April. At $1,370 gold is down 29 per cent on the peak. However, gold bugs - as the precious metal's fans are called - say that bullion's recent dip has to be put into context. Look at a long-term chart of the gold price and you will see that even having lost almost a fifth from its peak, it is still up substantially in recent years. Gold fans say the metal is marking time and while short-term traders may lose money, the long-term fundamental case for investing, based on gold's historic store of value as nations around the world printing money, still stands up. Enlarge Marking time: While gold is off almost 20 per cent from its 2011 peak, fans says that set against the bigger picture it is simply consolidating.
Veka Wolfgang

In Australia, gold miners are grappling with both rising costs and falling prices - 1 views

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    SYDNEY-Australia's gold producers are struggling to deal with the dual blow from rising costs and falling prices, casting a shadow over earnings results that are due next month. The latest production reports from Newcrest Mining Ltd., Australia's largest listed gold miner, and the smaller OZ Minerals Ltd. Thursday pointed to higher costs and tighter margins-underscoring the challenge facing producers after gold's biggest quarterly drop in decades. Gold prices have fallen more than 20% since the start of January amid expectations the U.S. would start to taper its program of monetary easing as its economy stabilizes, putting miners of the precious ... Related Sites: http://tnxmaverick.com/
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