Volume 99 Number 27 Aug 19 - 25, 2013

Mining engineers make plans at African Barrick's Buzwagi mine in Tanzania. Source: African Barrick

African Barrick hit with US$543M writedown at Buzwagi

VANCOUVER — Based on production metrics, Tanzania-focused African Barrick Gold (LSE: ABG; US-OTC: ABGLF) is having a relatively good start to 2013. Over the past six months the company has beaten analysts’ earnings…


Construction at Barrick's Cortez gold mine in Nevada. Source: Barrick Gold

Barrick takes US$8.7B impairment charge

Barrick Gold (TSX: ABX; NYSE: ABX) is writing down the value of its assets by US$8.7 billion and slashing its quarterly dividend in response to the recent decline in metal prices.  


The view from atop West Kirkland Mining's TUG gold deposit on the Utah-Nevada border. Photo by Matthew Keevil.

West Kirkland’s PEA at TUG hit by lower gold price

VANCOUVER — Nevada-focused gold explorer West Kirkland Mining (TSXV: WKM; US-OTC: WKLDF) has unveiled a preliminary economic assessment (PEA) for its TUG gold-silver deposit on the Long Canyon gold trend along the Utah-Nevada border in…


Analysts flag Cardero’s low cash flow

Cardero Resource’s (TSX: CDU; NYSE-Arca: CDY) largest shareholder, Luxor Capital Group, is offering to restructure its existing loan and even take over the company to dissuade Cardero from completing a debt financing with new lenders…



Editorial: Thoughts for your penny stock

“Pink Sheets” aren’t nearly as much fun as they sound, at least in the world of penny stock investing. Mid-August saw the U.S. Federal Bureau of Investigation and the Royal Canadian Mounted Police team up to make seven arrests in New…



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