Tuesday, April 16, 11:58 AM
Analysts 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)
5 Comments[Commodities, On the Move]
Tuesday, November 27, 2012, 6:23 PM
The two-week selloff in Osisko Mining (OSKFF.PK) since its purchase of Queenston Mining is overdone and creates an attractive entry point for investors, TD Securities says. The market is overlooking "encouraging" production results from the Canadian Malartic mine, the firm says; with ~$300M in free cash flow likely coming next year, Osisko will have “ample liquidity” to pay a dividend for the first time.
1 Comment[Commodities, Quick Ideas]
Monday, November 26, 2012, 3:36 PM
Agnico-Eagle Mines (AEM +0.9%) pushes near a 52-week high after agreeing to sell nearly 7.8M common shares of Queenston Mining (QNMNF.PK) to Osisko Mining (OSKFF.PK) for C$5.43/share, or total cash proceeds of ~$42M. Osisko's acquisition of the 9.2% stake in Queenston will be completed using available cash on hand.
Monday, November 12, 2012, 4:01 PM
Osisko Mining's (OSKFF.PK) $549M deal to buy Queenston Mining (QNMNF.PK) allows it to gain access to Ontario's Lake Kirkland region, which once produced more than 3.5M oz. of gold. The Upper Beaver project, expected to produce 1.1M oz. of gold over a 10-year mine life, has necessary permits to begin advanced exploration and is expected to go into production in 2016.