Russian VTB: gold demand might make a recovery

MINEX FORUM | August 14, 2017
img0 Bullion could rise to $1 360/oz within three months before climbing higher, fuelled by global political risks and buying from China and India, said Evgeny Ananiev at VTB Capital JSC, the investment-banking unit of Russia’s second-largest lender VTB Group. “We may see some correction, but I don’t think gold will drop below $1 200 as it’s well supported,” he said in a weekend interview in Goa. ...

Polyus had pledged its controlling stake

MINEX FORUM | July 31, 2017
img0 PJSC Polyus (LSE, MOEX – PLZL), the largest gold producer in Russia, announced that on 28 July 2017 Polyus Gold International Limited (“PGIL”) had pledged 66,780,561 ordinary shares of 1 Russian ruble each in the capital of the Company (the “Pledged Shares”) to secure certain obligations of PGIL. PGIL’s ownership in the Company remains unchanged.  The ...

Trump Jr’s correspondence has positive impact on gold

MINEX FORUM | July 13, 2017
img0 Funds flowed into gold on Wednesday, while the dollar tanked amid fresh political uncertainty triggered by US President Donald Trump’s son emails and meeting last summer with a Kremlin-linked lawyer that promised “sensitive information” to “incriminate” Democratic presidential nominee Hillary Clinton, mining.com reported. The news came amid an ongoing investigation by the Justice Department and the House ...

BitCoin and gold can happily co-exist

MINEX FORUM | July 6, 2017
img0 Ever since BitCoin was invented, comparisons have been drawn with gold, often to gold’s detriment. Charles Morris, chief investment officer at Newscape Group and editor of AtlasPulse.com argues that BitCoin and gold can happily co-exist, while technological advances will ultimately work to gold’s benefit, Gold Investor, the WGC edition, reported. On 2nd March 2017, the ...

Nord Gold SE provides additional guarantee coverage of $500 million Eurobonds

MINEX FORUM | July 4, 2017
img0 Nord Gold SE, the internationally diversified gold producer, announced that it has provided additional guarantee coverage under the US$500 million Eurobonds, maturing in 2018 by procuring the accession of Celtic Resources Holdings Limited and Berezitovy Rudnic LLC as further additional guarantors. Such accession was necessitated in order to ensure equal guarantee coverage to all Nordgold ...

Amur Minerals appointed Medea as Strategic Advisor to find funding for the Kun-Manie project

MINEX FORUM | July 3, 2017
img0 Amur Minerals Corporation, a nickel-copper sulphide mineral exploration and resource development company focused on the far east of Russia, announced that it has appointed Medea Capital Partners Ltd. (“Medea”), an FCA regulated corporate advisor, as Strategic Advisor to assist the Company in financing the development of the Kun-Manie Nickel/Copper Project in Russia. Highlights: Medea is ...

Paladin Energy running out of time to repay its debt

MINEX FORUM | July 3, 2017
img0 France’s Electricite de France SA (EDF) is pushing embattled uranium miner Paladin Energy for the repayment of $227-million in debt, which is due on July 10, said miningweekly.com. Paladin previously attempted to negotiate a standstill agreement with EDF under the long-term supply agreement inked in 2012, but a subsequent ruling by an independent expert had ...