Impairment, No Mill Expansion At Kinross’ Tasiast Not A Bad Thing – CIBC
Kinross Gold Corp.’s (TSX:K)(NYSE:KGC) decision to not move forward on a large scale expansion at its Turkey-based Tasiast mine, and the subsequent $342.5 million impairment charge the company took on it, is not necessarily a bad thing, say analysts at CIBC.
LBMA: Ounces Of Gold Transferred In January Rises From December
(Kitco News) – The amount of gold transferred between accounts of London Bullion Market Association members rose from December to January, but the amount of silver that exchanged hands fell, the organization reported Thursday.
Barclays: Threat Of ‘Grexit’ At Its Highest Point Since 2012
After some early optimism in the market, Greece and its European creditors were unable to reach an agreement on a new bailout deal and analysts from Barclays say that the prospect of a Greek exit is at its highest point since 2012. They added that discussion will continue on Monday but there are no expectations that an agreement will be reached anytime soon. “Although they have a strong incentive to reach an agreement on an EU-funded program, they seem fundamentally opposed on many policy issues,” they say. Despite the risks, Barclays adds that is it uncertain if a “Grexit” will create financial instability across the eurozone the biggest contagion risk would be Spain. “While the direct exposures of other member states to Greece appear manageable, a Greek exit could leave the door open for speculation that other EMU members may follow, especially where the election of new governments hostile to the current policy approach appears likely,” they say.
Argentina’s Mining Landscape Improving, Cerro Morro A Go – Yamana CEO
(Kitco News) – Yamana Gold Inc. (TSX:YRI)(NYSE:AUY) will proceed with the construction of its Cerro Morro project, located in the Santa Cruz province of Argentina, despite reporting a loss in 2014, and the risk involved with mining in Argentina.
Read moreU.S. Weekly Jobless Claims Rise To 304K
(Kitco News) – First-time weekly jobless claims in the U.S. rose by 25,000 to a seasonally adjusted 304,000 during the week to Saturday, the Labor Department said Thursday.
Read moreU.S. Advance Retail Sales Fall 0.8% In January
(Kitco News) – Despite strong optimism, U.S. consumers bought fewer products last month, according to the latest data from the U.S. Census Bureau.
Read moreGold Firmer on Short-Covering, but Risk-On Attitudes Limit Upside
(Kitco News) – Gold is modestly higher in early U.S. trading Thursday, supported on a short-covering bounce from Wednesday’s selling pressure.
WGC: Gold Market Finds Balance In 2014
(Kitco News) – The best way to describe the gold market in 2014 was it was a year of stabilization, according to the latest research from the World Gold Council (WGC).
Read moreAgnico Eagle Posts 4Q Loss; Back To Full-Year Profit
(Kitco News) – Agnico Eagle Mines Ltd. (TSX:AEM)(NYSE:AEM) reported a net loss in the fourth-quarter of 2014, but swung back to profit in its full-year results.
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