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Tana Goldfields PLC United Kingdom

Tana Goldfields PLC United Kingdom


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  • Gold_miners_braced_for_cuts_in_reserves_after_plunge_in_prices_177_ The gold mining sector is braced for asset writedowns and a fall in the amount of reserves in the ground after the precipitous drop in the price of the metal this year.

    Some of the world’s largest gold miners face having to tell investors that their growth has gone into reverse because the falling price has made it uneconomic to mine some of the areas previously classed as reserves.

    Miners’ reserves are vital to their prospects and valuations, since companies would quickly shrink if they did not replace what they dug from the ground each year. Rising price expectations have until now helped gold miners be more optimistic about their reserves and to include ounces that they would previously not have been able to mine profitably.

    “Gold has been going up for 12 of the last 13 years and reserves have gone up with the price. This [2014] is definitely the year we will see reserves falling across much of the sector,” said Jorge Beristain, an analyst with Deutsche Bank. “Reserve calculations have been based on a series of suppositions that in the present environment are no longer tenable.”

    Gold miners including Barrick Gold and Newmont Mining, the world’s largest by ounces of annual production, have had a difficult year in 2013 because of the effect of the gold price on some of their most important projects.

    Miners usually update their reserve statements early each year, and do not all assume the same price. Barrick’s last reserve stateme...

  • Hambro_2646154b_177_

    Hedge Funds 'Could Cause Disaster' for Gold TANA GOLDFIELDS Mining Fraud Investment Tips

    Peter Hambro, one of the leading figures in Britain’s gold mining sector, has criticised hedge funds for distorting the market for gold and warned that there is potential for “disaster” in the industry. Mr Hambro, co-founder and chairman of Russian gold miner Petropavlovsk, made the comment in an interview in The Sunday Telegraph.

    The gold price, fixed at $1,376.12 per troy ounce in London on Friday, has fallen more than 30pc from a 2011 peak of more than $1,900.

    Figures from the World Gold Council last week showed that ownership of the world’s gold shifted further East during the first half of 2013.

    Overall demand for gold was 12pc lower in the three months to the end of June than in the comparable period for 2012, as Westerners dumped their exchange-traded holdings and Asian consumers responded to lower prices by adding to their hoards of jewellery and bullion.

    “It’s rather odd,” said Mr Hambro, “Gold is streaming into the Far East. Russians are still buying; the Chinese are buying. There’s no secret. It’s in the international statistics. “Where the selling came from that knocked the gold price down, I really don’t know. It was such a very strange thing.

    “I’ve been in the gold business for 35 years and never known a big change like that where it wasn’t obvious where it came from.”

    Asked whether he is concerned that hedge funds are distorting ...

  • A portfolio of Gold Stock Analyst newsletter's Top 10 Stocks has outperformed every Gold benchmark since 1995. Tana Goldfields

    Finding the Top 10 Gold Stocks

    Gold Stock Analyst is two newsletters that make it simple for investors to own a portfolio of the best Gold stocks. Published twice a month since 1994 by a former Professor of Economics and Finance (Bentley College in Waltham, MA), GSA focuses on the 70 Gold and Silver miners that have ounces that meet the US Security and Exchange Commission's strict report- ing standard for Proven and Probable Reserves. From those meeting this test, GSA crunches numbers, dissects SEC filings, visits mines, talks and visits with management.

    All this searching for the Top 10 Stocks... those that are undervalued and have the potential to double in the next 18 to 24 months, assuming no change in Gold's price. In today's era of $10 internet trades, the transaction cost to buy 10 stocks is trivial... even if Gold is only 10% of your total portfolio.

    Ten stocks is the right number for this volatile sector. It's a small enough so a big gain in one will have major impact on the total portfolio... one stock doubling boosts the portfolio by 10%. Yet ten is large enough that even if one fell 50%, it would cut the portfolio's total value by just 5%.

    Additionally, the discipline of 10 stocks means a new stock must be seen to have better upside than the current members of the Top 10. Since we seek undervalued stocks that can double at the current...

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