Pioneer gold float revived
Article Abstract:
Pioneer Goldfields may carry out a flotation in 1996, after having abandoned one attempt in late 1995. The price of shares in the gold industry has risen following a rise in the price of gold. Weak gold prices led to the previous attempt being abandoned. Mutual funds involved in the gold industry are also attracting investment. Sceptics argue that the rise in the price of gold has a speculative element with US funds involved in buying gold, and the price may fall.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Sitting on a gold mine
Article Abstract:
Randgold Resources is carrying out a stock issue to raise $150 million. Randgold will retain a majority stake in the company. Randgold Resources could be attractive over the long term, and the company has 54 geologists ivolved in gold exploration. The company holds an 80% stake in the Syama mine, Mali, and is investing in new equipment as well as seeking to improve employee relations. The gold reserves should last until 2005 judging by proven resources.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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The Bre-X fiasco
Article Abstract:
Bre-X has seen a drop in its share price after revelations that gold reserves at the Busang mine in Indonesia were less than expected. The drop in Bre-X's share price has affected other mining companies, especially smaller exploration concerns, and share issues have been postponed. Some share price falls have been exaggerated and there could be bargains for investors. Larger mining companies are likely to benefit as investors seek safer stocks.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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