Group items tagged

http://bit.ly/1cPY9AA The gold mining sector is braced for asset writedowns and a fall in the amount of reserves in the ground after the precipitous drop in the price of the metal this year. Some of the world's largest gold miners face having to tell investors that their growth has gone into reverse because the falling price has made it uneconomic to mine some of the areas previously classed as reserves. Miners' reserves are vital to their prospects and valuations, since companies would quickly shrink if they did not replace what they dug from the ground each year. Rising price expectations have until now helped gold miners be more optimistic about their reserves and to include ounces that they would previously not have been able to mine profitably. For more information: http://www.writerscafe.org/groups/TANA-Goldfields-UK/10719/forum/22687/ http://www.tanagoldfieldsuk.n.nu/gold-miners-braced-for-cuts-in-reserves-after-plunge-in-prices