Salient to Investors: Gold miners will accelerate spending cuts and trim high-cost output as gold’s biggest fall since 1980 threatens to make about 30 percent of production unprofitable. Gold is down more than 20 percent since its record close in August 2011, thus signalling a bear market. Dundee Capital Markets
READ MORE... →Salient to Investors: The gold-mining industry has underperformed bullion for each of the past 6 years. The weight of gold behind ETFs has quadrupled to 2,530 tons since the start of 2007. Neil Gregson at JPMorgan Asset Mgmt said the industry has done nothing to persuade investors that hold gold ETFs to buy gold
READ MORE... →Salient to Investors: Billionaire hedge fund managers have been heavily buying gold. John Paulson has been accumulating gold and gold mining stocks at a fevered pace. George Soros, Louis Moore Bacon, Julian Robertson et al have been buying gold, mining equities and ETPs. Bill Gross at Pimco has urged investors to buy precious metals. George
READ MORE... →Salient to Investors: A Bloomberg Industries index of 20 mid-tier gold miners has risen 1.3 percent in the past 3 versus a 19 percent decline in an index of 14 senior gold miners. Craig West at GMP Securities said intermediate gold miners offer more upside. Read the full article at http://www.bloomberg.com/news/2012-11-09/barrick-gold-s-former-chief-sees-virtue-in-being-small.html
READ MORE... →Salient to Investors: Jim Chanos at Kynikos Associates says: He expects declines in companies that may be inexpensive compared with earnings, like in natural gas, which have enormous cash needs, and iron-ore producers, where industry capacity will expand globally even as demand stalls because of China’s slowdown A number of high-profile natural gas companies may be in financial
READ MORE... →Salient to Investors: PayScale reports 2012 graduates from South Dakota School of Mines & Technology received a median salary of $56,700 versus $54,100 for graduates from Harvard. jobs4mining.com says shortages in mine engineering and project management are acute, driving tremendous salary inflation. New mineral deposits are getting harder to find, and companies are
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