Paulson cuts gold ETF, upbeat view stays
Hedge fund manager John Paulson has cut his gold ETF bullion holdings by about $600m in the fourth quarter, a second straight reduction.
DRDGold to expand Ergo production
DRDGold is to spend R250m to increase gold production through improvements to its
Ergo treatment plant to raise gold recovery rates.
DRDGold will look to sell Village stake
DRDGold will not indefinitely stay a minority shareholder in Village Main Reef once the
Blyvoor transaction has been completed, says its CEO Niel Pretorius.
Gold not a reliable inflation hedge – study
Gold prices have been too volatile to play a reliable role as a hedge against inflation, shows a study of financial assets over the past 112 years.
Randgold doubles dividend as profit soars
Randgold Resources reported a 259% increase in full-year profit prompting it to
double its dividend.
DRDGold says closure won’t affect Blyvoor deal
DRDGold said it may shed 1,800 jobs at its struggling Blyvoor operation but believed
it would not negatively affect the sale of the mine to Village Main.
Gold One targets 300,000 oz for 2012
Gold One International has set its production forecast for 2012 at 300,000 oz, aided
by the continued ramp-up of Modder East and new contributions from Rand Uranium.
Wits Gold may seek R450m in rights issue
Wits Gold may tap shareholders for up to R450m and introduce new ones in an
effort
to boost the share’s liquidity, says CEO Philip Kotze.
Pan African and Wits Gold buy Evander
Pan African Resources has teamed up with Wits Gold to buy Evander from Harmony for
R1.7bn in a deal that will give exploration company Wits Gold its first operating asset.
Pan African Resources expect earnings surge
Pan African Resources says it is expecting an increase in interim headline earnings of up to 93%.