Canadian gold miners are expected to report a sharp jump in quarterly profits in coming weeks, though cost increases and foreign exchange rates are likely to limit the benefits of record bullion prices.
Gold prices averaged $1,227 an ounce in the third quarter, a 28 per cent increase over the same period of 2009, with spot prices climbing to daily highs and hitting a record of $1,315.80.
The world's top two gold miners, Barrick Gold and Goldcorp. are expected to post 50 per cent increases in earnings over the previous year, according to Thomson Reuters. No. 3 Kinross, which closed a $7.1-billion deal to buy Red Back Mining in September, is expected to post a nearly 100 per cent increase in adjusted earnings.
Goldcorp and Agnico-Eagle will kick off the flurry of earnings Wednesday, followed by Barrick and Eldorado Gold, and then Newmont Mining, Yamana Gold, Iamgold and Kinross.
Read more:http://www.timescolonist.com/business/Gold+miners+profits+expected+sparkle/3710437/story.html#ixzz135Xusa1V
8 comments:
I don't post to please you P5, I post to give my thoughts on different subjects and let readers take it as they wish. You have had many posts in the past that have made me consider new ideas and make me think a little deeper into certain issues. I mean I've said it before but in my opinion some of the post that have been posted are a little too far fetched for my liking but that's beside the point. I always find your post interesting for the most part but don't call me out for saying my info is not worthy.
with that being said I need to make a few more trades today...futures performing decently today on the volatily side of things.
Cheers Mrstormpay
Sent via the blackberry network
Storm, you were played here. This post should be removed as it is an imposter. Note the name on top, not the way that production logs in and definetly not his style of writing.
I liked your article and believe we will see some nice numbers come November 15th. I do expect our SP to creep up before than and if the numbers are good, we may start to see that reflected properly in our share price.
Glorieux
Believe Glorieux is right. It does'nt sound like Prod05 and the log-in signature is not the same too.
YUP! Totally agree with the rest... you were played with. this is not a post from the REAL Prod05. Carib could you remove this post because there is no content and this person is impersonating someone we all respect and admire for their contributions. this is pure dribble, not becoming of P05.
Thanks!
Carib, please remove that post, as that was not me.
Here, I will remove it myself if I must. Let's not bother Carib over foolish things.
Changing information from Century's Sept and Aug presentations:
Sept:
•2010 guidance: 45,000 to 50,000 oz of gold production at cash cost of US$575 to $625 per oz
•Production growth at Lamaque ramping up to full production of 100,000 to 110,000 oz/yr by 2013
–LOM average cash cost of US$450 to $550/oz
Aug:
•2010 guidance: 55,000 to 60,000 oz of gold production at cash cost of US$550 to $570 per oz
•Production growth with Lamaque ramping up to full production of 100,000 to 110,000 oz/yr
–LOM average cash cost of US$450 to $550/oz
This is a very "dynamic" company. lol
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