Head of the world’s largest hedge fund says a ‘paradigm shift’ in markets now makes gold a good bet -
Bridgewater Associates manages some $125 billion, making it the world’s largest hedge fund, which has conferred a certain authority on Dalio’s views on markets and the global economy.
Interview with Serafino Iacono, Executive Chairman of Gran Colombia Gold (TSX: GCM) Gran Colombia Gold (TSX: GCM) - 11% Bond Secured by Physical Gold. New bond being issued.
Interview with Serafino Iacono, Executive Chairman of Gran Colombia Gold (TSX: GCM)
One of the smartest, financially literate Gold teams we've ever interviewed. Making money.
Serafino Iacono: So management believes in this company and its assets. We have to find ways since the banks don't lend money, since the Streaming is very expensive and everything. We started thinking of what's the best way for us to finance. We were actually were the first one in Canada that created this kind of bond that we had.
Matthew Gordon: Tell me about that? I've marked them on here. I want to know.
Serafino Iacono: It's a fantastic piece of paper. I mean we own it. We love it. We do it in such a way that it's beneficial, instead of giving the money to a bank, or giving the money to a Streaming. We give it to our investors, because most of our shareholders are the guys that own the bond.
Matthew Gordon: What are the terms on that?
Serafino Iacono: The terms of the bond that we have, the only bond that we have, it's an 8.5% coupon. We cover the downside which is $1,250 Gold. So we guarantee that you will get $1,250 Gold. You get all the upside on the amount of money that was lent to us. So in the case of this case, when we started the bond, was a $100M. We're down to $68M in the first year. We already paid a very large amount.
Matthew Gordon: So what's the term? When is this going to be paid off?
Serafino Iacono: It's going to be paid.. the terms is 2024, but we going to finish paying in 2023.
Matthew Gordon: No early redemption, no penalties?
Serafino Iacono: No penalties and not because it's on the end of 2023. But the paper is a fantastic paper, because it gives you the coupon, steady coupon. Interest get paid on a monthly basis, so it keeps that discipline. And principle gets paid on a quarterly basis. Plus on the quarterly basis, you get a kicker, if it's above $1,250. And so it's a paper that gives you 11% return. Every month, we set an amount of Gold aside in Scotia Bank and at the end of every three months, we cash in the Gold. We pay the principal.
Gran Colombia Gold’s Production Increases 12% to 118,483 Ounces in the First Half of 2019; Raises Its 2019 Annual Gold Production Guidance July 11, 2019 TORONTO, July 11, 2019 (GLOBE NEWSWIRE) --
Gran Colombia Gold Corp. (TSX: GCM; OTCQX: TPRFF) announced today that it produced a total of 18,882 ounces of gold in June bringing the total for the second quarter of 2019 to 57,882 ounces, up 9% over the second quarter of 2018. For the first half of 2019, the Company produced a total of 118,483 ounces of gold, up 12% over the first half last year.
This brings the trailing 12 months’ total gold production at the end of June 2019 to 230,906 ounces, up 6% over 2018’s annual production and above the top end of Gran Colombia’s initial guidance range for 2019 of between 210,000 and 225,000 ounces.
Lombardo Paredes, Chief Executive Officer of Gran Colombia, commenting on the Company’s latest production results, said, “We turned in another strong quarter of operating performance in the second quarter of 2019 led by our flagship Segovia Operations. The final phase of the expansion of the Maria Dama plant to 1,500 tonnes per day (“tpd”) was completed earlier this month, giving us the additional capacity required to handle our expected near term growth. In light of our first half results, we now feel confident in raising our annual production guidance for 2019 to between 225,000 and 240,000 ounces of gold.”
The Segovia Operations produced 16,891 ounces of gold in June bringing the total for the second quarter of 2019 to 51,625 ounces, up 10% over the second quarter of 2018.
Gran Colombia processed an average of 1,173 tpd at its Segovia Operations in the second quarter of 2019, up 16% compared with the second quarter last year. After receiving a boost from a high-grade area at the Providencia mine in the first quarter this year, Segovia’s overall head grade returned to an average of 16.8 g/t in the second quarter of 2019 compared with 17.3 g/t in the second quarter last year. For the first half of 2019, the Segovia Operations produced a total of 106,011 ounces of gold, up 13% over the first half last year.
Overall, the Company processed an average of 1,143 tpd in the first half of 2019, up 18% over the first half last year, at an average head grade of 17.8 g/t, up from 16.7 g/t in the first half last year.
Segovia’s trailing 12 months’ total gold production at the end of June 2019 has increased to 205,518 ounces, up 6% over 2018’s annual production. As such, the Company is raising its 2019 annual production guidance for Segovia to a range between 201,000 and 214,000 ounces of gold.
At the Marmato Operations, June’s gold production of 1,991 ounces brings its total production for the second quarter of 2019 to 6,257 ounces, up 7% compared with the second quarter of 2018.
For the first half of 2019, Marmato produced a total of 12,472 ounces of gold, up 4% over the first half last year.
With Marmato’s trailing 12 months’ total gold production at the end of June 2019 amounting to 25,388 ounces, the Company is maintaining its 2019 annual production guidance for this operation of between 24,000 and 26,000 ounces of gold.
About Gran Colombia Gold Corp.
Gran Colombia is a Canadian-based mid-tier gold producer with its primary focus in Colombia where it is currently the largest underground gold and silver producer with several mine be found on its website at http://www.grancolombiagold.com and by reviewing its profile on SEDAR at www.sedar.com.
Cautionary Statement on Forward-Looking Information:
This news release contains "forward-looking information", ---- which is available for view on SEDAR at www.sedar.com . Forward-looking statements contained herein are made as of the date of this press release and Gran Colombia disclaims, ---- Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
For Further Information, Contact: Mike Davies Chief Financial Officer (416) 360-4653 investorrelations@grancolombiagold.com
Senator Cortez Masto Meets with Nevada Gold Mines Leadership T.ABX | ELKO, Nevada, Aug. 26, 2019 (GLOBE NEWSWIRE) -- In a scheduled visit to rural Nevada to engage with stakeholders and communities, United States Senator Catherine Cortez Masto visited the Nevada Gold Mines (NGM) headquarters in Elko today, meeting with senior leadership and employees.
Senator Cortez Masto shared her condolences and talked with employees about the tragic bus accident on Saturday. The visit provided the opportunity for Senator Cortez Masto to engage with NGM leadership to learn more about the social and economic benefits generated by the company for the state of Nevada, and its focus on safe and sustainable operations to create value for all stakeholders. In addition, the senator heard about NGM’s commitment to growing and training its current and future workforce in Nevada.
Benefits from the formation of the world’s largest gold mining complex, a joint venture between Barrick Gold Corporation (61.5%) as the operator and Newmont Goldcorp Corporation (38.5%), were shared with the senator.
Greg Walker, NGM Executive Managing Director, said the meeting was another step towards building and maintaining strong partnerships with key stakeholders and community organizations in northern Nevada and across the state.
“Nevada Gold Mines was honored to host Senator Cortez Masto,” said Walker. “The senator expressed her deepest condolences following Saturday’s terrible bus accident. Her support means a lot to everyone on our Nevada Gold Mines team, and we’d like to thank her for her kind words. We also appreciate her interest in our current and future business. With our operations and employees based here in Nevada, we are proud of our contribution to the state’s economy as well as the ongoing development of local communities. We look forward to maintaining our leadership role as a key employer and business partner in the region and an active and responsible corporate citizen to the state and the nation.”
Enquiries: Mark Bristow Chairman Nevada Gold Mines +1 647 205 7694 +44 788 071 1386 Greg Walker Executive Managing Director Nevada Gold Mines +1 702 526 3194 Kathy du Plessis Barrick Investor and Media Relations +44 20 7557 7738 barrick@dpapr.com Website: www.barrick.com
Cautionary Statement on Forward-Looking Information Certain information contained or incorporated by reference in this press release, including any information as to Barrick’s strategy, projects, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “believe”, “expect”, “plan”, “project”, “mission”, “potential”, “may”, “will”, “can”, “should”, “could”, “would”, and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: (i) the potential of the mining operations and growth projects of Nevada Gold Mines; (ii) potential mineralization, and potential for growth projects to provide employment opportunities and contribute to the local economy; and (iii) Nevada Gold Mine’s mission to create long-term value for stakeholders.
Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; risks associated with projects in the early stages of evaluation, and for which additional engineering and other analysis is required;; failure to comply with environmental and health and safety laws and regulations; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or all of targeted investments and projects will meet the Company’s capital allocation objectives and internal hurdle rate; changes in national and local government legislation, taxation, controls or regulations and/ or changes in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments the United States, and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; damage to the Company’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company’s handling of environmental matters or dealings with community groups, whether true or not; litigation and legal and administrative proceedings; risks associated with working with partners in jointly controlled assets; employee relations including loss of key employees; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; and availability and increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks). Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
LARGEST Gold Reserves In The World! 8,091 views World List Published on 21 Aug 2019
Check out the LARGEST Gold Reserves In The World! From the wealthiest countries with tons of gold bars to some of the biggest central banks, this top 10 list of gold reserves by country will amaze you!
Newmont Goldcorp Announces Pricing of 2.800% Senior Notes Offering Newmont Goldcorp (TSX:NGT) Today : Saturday 7 September 2019
Newmont Goldcorp Corporation (NYSE: NEM, TSX: NGT) (formerly known as Newmont Mining Corporation) (“Newmont Goldcorp” or the “Company”) announced today the pricing of its public offering of $700 million aggregate principal amount of 2.800% senior notes due 2029 (the “Notes”). Subject to customary conditions, the offering is expected to close on September 16, 2019. The offering is being made pursuant to the Company’s shelf registration statement filed with the Securities and Exchange Commission.
Jim Rickards: $10,000 Gold Is Coming (RERUN) - 11,708 views Kitco NEWS Published on 8 Aug 2019
Gold has been one of the best performing assets in 2017, and Jim Rickards, best-selling author of Currency Wars told Kitco News that he saw even more potential for the yellow metal.
Rickards credited rising geopolitical tensions as a source of gold's tailwinds.
"People seem to have very short attention spans. I’m just looking down the road and you can see the war is coming," he said.
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