Seeking Alpha

S&P warns of potential ratings downgrades at some of the world’s biggest gold miners...

S&P warns of potential ratings downgrades at some of the world’s biggest gold miners as they struggle to escape rising debt. Barrick Gold (ABX -2.1%), burdened by a huge debt load and the highest exposure to project cost overruns in the industry, is most at risk of a possible downgrade, S&P says; Goldcorp (GG -1.4%) likely wouldn’t face a downgrade unless the gold price dropped by 50%.
Comments (4)
  • Just stop with this propaganda. With gross margin of $1000 per ounce of gold ($1600 less $600), how can you possibly say ABX is struggling. As stated in other places, the ABX Boa Constrictor has swallowed the Pascua Lama rat creating some indigestion. A challenge with 26 other mines? Give me break and go find some reality. You are not displaying any reality here. Reporting on some real information would be helpful instead of this propaganda, not useful to anyone I know.
    18 Dec 2012, 05:41 PM Reply Like
  • The same day S&P upgraded Greece they are warning of downgrading gold miners! I guess Greece now has a brighter future than those in the gold business!
    18 Dec 2012, 09:36 PM Reply Like
  • Otherwise known as BS. With U.S. govt spending remaining intact with the fiscal cliff bill now becoming law, inflation continues to rule.
    Or gold is still king, no matter how the S&P tries to distort reality.
    2 Jan 2013, 04:22 PM Reply Like
  • Again a rumor based on ifs!
    19 Dec 2012, 06:23 AM Reply Like
DJIA (DIA) S&P 500 (SPY)