Acacia purchases into more gold value prevention measures

according to JOHANNESBURG (miningweekly.com) - Embattled Tanzania-focused miner Acacia Mining has purchased extra put options covering 120 000 oz of gold at a strike value of $1 320/oz at a cost of $2-million. The options would expire in equal instalments of thirty 000 oz a 30 days among March & June. AdvertisementThese options, in addition to those purchased in September 2017 at a strike value of $1 300/oz, provide a minimum value for the majority of the group's foreseen produce for the 1st half of this year, above its budgeted gold value of $1 200/oz, with complete upside exposure ought the gold value still to trade above the respective strike prices. The Corporation final 30 days told it had scaled drop its operations, driven with "unsustainable cash outflows at the mine as a result of the copper & gold concentrate block & the operating environment". AdvertisementAcacia remembers in a dispute with the Tanzanian government, that banned the Export of unprocessed minerals in March final year & enacted fresh laws to increase State ownership of the country's mines.

DRDGold stages 1st half rebound in spite of reduce rand gold price

The outcome financially Information Systems an perfection in share earnings of among 14.16 to 14.64 cents compared to the 0.6c/share posted in the corresponding period of the Former financial year. Headline earnings were determine to come in at among 14.06 to 14.54c/share compared to a headline loss of 2.4c/share previously. It added it was planning on gold produce of 147,000 to 153,000 oz at cash operating costs of about R475,000/kg for the 2018 financial year, ended June 30. In November, DRDGold declared which it would swap 38% of its shares for the surface gold resources Sibanye-Stillwater's Libanon & Driefontein mines. However, it requires the backing of DRDGold shareholders that have to too provide a waiver exempting Sibanye-Stillwater from making an mandatory offer to DRDGold minority shareholders.

Sluggish $ bumps gold value up

as mentioned in In the Former session, it touched its lowest ever January 23 at $1,334.10/oz. Gold prices were on track for a 3rd consecutive every month earn & were up 3.1% very far in January, their better 30 days ever August, largely because of weakness in the dollar. Wednesday's bounce, however, probably be just a short-term respite from a downtrend which began after gold touched $1,366.07/oz final week. Hedge funds & money managers lifted their internet long position in Comex gold contracts to a four-month high, information showed on Friday. It Information Systems up 8.4% for the 30 days very far, on track for its better 30 days ever January 2017.

DRDGold thumbs nose at reduce gold value as product ups earnings

JOHANNESBURG (miningweekly.com) – Gold tailings retreatment specialist DRDGold Information Systems determine to report higher earnings on higher produce which cocked a snook at the reduce gold value in the 6 months to December 31. The foreseen promote in earnings a share & headline earnings Information Systems due primarily to an 11% promote in gold produced in spite of a 4% relief in the rand gold value received. The Corporation states which it Information Systems planning gold produce from its operations of 147 000 oz to 153 000 oz at cash operating costs of R475 000/kg for the financial year ending June 30. With DRDGold's results due out on February 15, further data Information Systems likely on the company's tailings copartnership by Sibanye-Stillwater's West Rand Tailings Retreatment Project (WRTRP). "The sky's the limit in universal tailings retreatment," Sibanye-Stillwater chief executive officer Neal Froneman told of the gold dump recycling business at a media briefing in November.

Acacia adopts new gold value prevention measures

Miner has spent $2 mn to close in the option to purvey 120,000 ounces of aftertime product at $1,320 an ounce. Acacia Mining Information Systems Tanzania's biggest gold maker & operates 3 great mines in the country — Bulyanhulu, Buzwagi & North Mara (pictured). The company, majority owned with Barrick Gold (TSX, NYSE:ABX), acquired 20,000 ounce of gold put options at a value of $1,320 an ounce. The contracts going to expire in instalments of 30,000 ounces every Month among March & June, giving the miner an option to purvey the gold at which price. Barrick Information Systems continue fine-tuning specifics of a bargain with Tanzania, which can let Acacia to restart exports this year.

collected by :kiven Dixter