Reuters | February 20, 2020 | 4:15 pm Markets Top Companies Gold
Mine trucks at Newmont’s Porcupine mines. (Image courtesy of Newmont Goldcorp | Flickr)
Surging gold prices propelled miners Newmont and Kirkland Lake Gold to beat estimates for quarterly profit on Thursday as industry consolidation began to bear fruit for long-suffering shareholders.
Gold prices marked their best annual increase since 2010 last year and are currently above $1,600 per ounce, as concerns over global economic health, low interest rates and geopolitical tensions triggered investor interest in safer assets.
Newmont, Kirkland and others have snapped up rivals in a flurry of deals to replace reserves and lower costs, and are now rewarding investors by hiking payouts and buying back shares.
“That’s what’s going to bring people back to the space,” said Maria Smirnova, portfolio manager at precious metals-focused fund manager Sprott Inc. “We need to show people that mining companies can make money, and not just destroy capital.”
NEWMONT, KIRKLAND AND OTHERS HAVE SNAPPED UP RIVALS IN A FLURRY OF DEALS TO REPLACE RESERVES AND LOWER COSTS
Kirkland Lake, fresh from acquiring rival Detour Gold, said on Thursday it would double its annual dividend to $0.50 per share and repurchase 20 million of its common shares over two years as it steps up exploration.
Kirkland bumped 2020 spending to $500 million compared with $245 million previously
Russia’s Air Force shelling militants backed by Turkey (Full show)
5,598 views •Feb 20, 2020
https://www.youtube.com/watch?v=LWFN7aZDlvc
Making the case for a $2,000 gold price - Frank Holmes
11,123 views •Feb 20, 2020
https://www.youtube.com/watch?v=wRC_4382oGo
The Detour deal will provide excellent buy
opportunities and should be a very good deal and
better on the real money gold future -
What I see is DGC shareholders and some market players
cashing out the new shares they got and shorters made moves -
At the end of the day we have the same market cap as pre-merger
except now we own 15m ozs , a mine and a lot more ozs we don't
know about.
We have got an additional 600k ozs/yr in production.
This is a medium long term steal imho, I am tempted to add another
5k shares here, and my crystal ball reveal a much higher
price of the LT gold trend next 5 years -
RevT79 wrote: Kl as got the best deal ever buying detour with
is 15 millions oz reserves for.... nothing!!!
lol!!!!
they print a bunch of paper shares and bought a massive
gold producing mines.
rigth now the decrease of the SP is due to detour shareholder
weak hands selling there new shares.
How much will those 15 millions oz will be worth in 5 years...
it was shown that the grades are higher than expected on the last
quarter.
this is a great entry point to buy shares....
hopefully investors see the opportunity!
glta
Eric feel KL got Detour for a steal -
In GOD We Trust -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
Recent NEM News
- Meta Strengthens Child Privacy on Instagram; Google Overturns $1.7 Billion Antitrust Fine; Snap Updates Spectacles • IH Market News • 09/18/2024 10:13:07 AM
- Newmont Announces Agreement to Divest Telfer and Havieron for Up to $475M • Business Wire • 09/10/2024 04:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 08:38:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2024 08:36:53 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/03/2024 04:24:01 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 09/03/2024 02:35:04 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 08/30/2024 04:34:19 PM
- Newmont’s Lori Douglas Honored as a 2024 Paradigm for Parity Woman on the Rise • Business Wire • 08/28/2024 12:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/16/2024 08:41:55 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/14/2024 08:29:16 PM
- Newmont’s Trial of Underground 5G at Cadia Mine Delivers Strong Results • Business Wire • 08/08/2024 09:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/05/2024 08:46:59 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 08/01/2024 07:10:06 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/31/2024 09:32:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/26/2024 08:47:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/26/2024 10:34:45 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/24/2024 08:05:28 PM
- Newmont Reports Second Quarter 2024 Results • Business Wire • 07/24/2024 08:05:00 PM
- US Index Futures Fall Amid Tech Giant Earnings, Oil Prices Rise • IH Market News • 07/24/2024 09:55:54 AM
- Newmont Announces Second Quarter 2024 Earnings Conference Call • Business Wire • 07/03/2024 11:30:00 AM
- Newmont Welcomes Industry Veteran Red Conger to Board of Directors • Business Wire • 06/28/2024 12:00:00 PM
- U.S. Futures Drop in Pre-Market Trading as Tech Stocks Plunge After Meta Issues Gloomy Forecast • IH Market News • 04/25/2024 11:53:54 AM
- Newmont Reports First Quarter 2024 Results • Business Wire • 04/25/2024 11:00:00 AM
- Newmont nomme François Hardy, vétéran de l'industrie minière, au poste de directeur de la technologie • Business Wire • 04/19/2024 08:57:00 PM
- ニューモント、鉱業分野の実力者フランソワ・ハーディーを最高技術責任者に任命 • Business Wire • 04/19/2024 05:55:00 PM
FEATURED Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • Sep 24, 2024 8:50 AM
FEATURED Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM