Markets stage stunning rally
The period ending Oct. 15 saw a dramatic surge in the broad U.S. markets, with both the Dow Jones Industrial Average and the S&P 500 index surging more than 10% to 8,255.68 and 881.27 points, respecti…
Ashanti Goldfields Company Limited
Golds slump in weak market
Dow 36,000 receded further into the distance over the report period Oct. 1-8, with the bellwether U.S. stock index plunging 437.30 points to finish at 7,501.49. But the gold stocks, which have been fe…
Golds lead way
With prices surging US$8 into the mid-US$320-per-oz. range, producers of the yellow metal proved to be the only bright spot in the U.S. markets during the report period ended Sept. 24.The U.S.-listed …
Gloomy start to September
A market rout on September’s first trading day in the U.S. might be a sign of further carnage to come this fall. For the report period ended Sept. 3, the major indices retested post-9-11 lows, with th…
US markets reverse course
In another typical display of these troubled times, U.S. markets reversed course to finish the Aug. 21-27 report period worse off than when they started.The Dow Jones Industrial Average slipped 47.66 …
Ashanti out from under margin requirements
An infusion of cash from a US$75-million note issue allowed Ghanaian gold producer Ashanti Goldfields (ASL-N) to retire old debt and buy out of earlier hedge arrangements that subjected it to margin c…
Newmont rises with strong quarter
Newmont Mining turned in its first quarterly report since its mega-merger with Franco-Nevada Mining and Normandy Mining, and the results augur well for the company’s future. The company, now the world…
Proposals sink SA shares
The stocks of South African-based miners headed south during the report period ended July 30 as political risk made a stark reappearance.In a document leaked to a Johannesburg-based web site in late J…
US mining shares walloped
The 7-day period that ended July 23 was marked by relentless waves of panic selling in markets across the world. In the U.S., the S&P 500 index sank 11.4% to 797.71 points, the Dow Jones Industrial Av…
Moydow waits for Newmont
A July 24th decision by Newmont Mining (NEM-N) regarding the fate of the Ntotoroso gold project in Ghana’s Sefwi gold belt is looming large for equal joint-venture partner Moydow Mines International (…
Ashanti scraps note restructuring (July 08, 2002)
Ashanti Goldfields (ASL-N) has scrapped a proposed note restructuring, following a US$75-million, last-minute cash injection from 32%-owner Lonmin.Instead, the African gold miner will implement an ear…
Golds retrench
With bullion prices finding new support at around US$318 per oz., the U.S.-listed gold companies spent the report period June 12-18 consolidating at levels about 5% lower than the 52-week highs attain…