Detour Gold Corporation is a Canadian gold exploration and development company with a highly experienced management and technical team. The Companys primary focus is the successful development of its flagship asset, the Detour Lake project, located in Northeastern Ontario. With more than 15.6... More
Monday, Nov 2512:37 PMDetour Gold plummets 30% as CEO exits
Monday, Nov 2512:37 PM| 2 Comments
- The surprise resignation of founder and CEO Gerald Panneton has sent Detour Gold (DRGDF -30.4%) tumbling. He's been replaced on an interim basis by CFO Paul Martin.
- Martin: “It would be fair to say that none of us are satisfied with the share performance. What we need to do is to deliver on our operating parameters to improve that situation.”
- RBC's Dan Rollins expects the company to move quickly to boost capital, but Martin says there's currently no thought of an equity raise.
- Press release
Thursday, Jul 1111:23 AM"We can get through this with no problem," Detour Gold (DRGDF.PK +5.4%) CEO Gerald Panneton says of $1,250 gold and a YTD 65% drop in the share price. The cause for optimism is the company's Detour Lake mine in Ontario, expected to be the largest gold mine in Canada; it's gradually ramping up, producing ~58K oz. of gold in Q2 and on track to reach commercial production in Q3. |Thursday, Jul 1111:23 AM| Comment!
Thursday, May 910:51 AMThose wanting exposure to gold producers must pay close attention to both cash costs and balance sheets if they want to avoid ugly surprises, Clarus analyst Jamie Spratt says, suggesting a core holding of low-leverage names with longer-term upside, as they generally can fund their growth internally with relatively stronger free cash flow: ABX, IAG, BAA, OSKFF.PK, DRGDF.PK. |Thursday, May 910:51 AM| 1 Comment
Tuesday, Apr 1611:58 AMAnalysts at RBC Capital think credit downgrades for some top gold miners are a strong possibility. There's a “moderate probability” Barrick Gold (ABX -0.1%) could trigger a one-notch downgrade at $1,400 gold; at $1,300, Newmont Mining (NEM +1.9%) could get downgraded, and Kinross Gold (KGC +1.8%) could get cut right to junk status. TD Securities also offers similarly disturbing conclusions. (also) |Tuesday, Apr 1611:58 AM| 5 Comments