Griffith says it’s vital to act now because competition for dwindling gold resources will only intensify, while the cost of buying resources will become increasingly expensive.
On May 31, after almost no consultation with shareholders, SA miner Gold Fields unveiled a $7bn tilt for Yamana Gold, a Toronto-listed firm with gold mines scattered throughout the North and South American continents.
The market didn’t take a shine to the proposal. Shares in Gold Fields fell a quarter in Joburg on day one, with analysts principally concerned about the dilution that shareholders were being asked to absorb. As for Yamana’s investors, they were sniffy about the prospect of swapping Toronto scrip for far-flung Joburg paper...
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside Chris Griffith’s great gold gambleGriffith says it’s vital to act now because competition for dwindling gold resources will only intensify, while the cost of buying resources will become increasingly expensive.
Read more »
Inside Chris Griffith’s great gold gambleGold Fields $7bn tilt for Toronto-listed Yamana Gold came like a bolt from the blue in May. Despite initial scepticism, there has been some shift in sentiment towards the deal.
Read more »
Inside Griffith’s great gold gambleGold Fields $7bn tilt for Toronto-listed Yamana Gold came like a bolt from the blue in May. Despite initial scepticism, there has been some shift in sentiment towards the deal.
Read more »
Gold steadies as economists expect accelerated US CPIThe coming CPI data may confirm expectations for a ‘jumbo’ 75 bps interest rate hike by the US Fed
Read more »
Sanctions starve Russian gold miner Petropavlovsk of fundsRussian producer to file for administration after funds dry up and its share price crashes 90% in London
Read more »
Strong dollar and looming rate hikes weigh on goldGold price under pressure from resurgent greenback amid bets on higher interest rates
Read more »