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Commodities Briefing - Categorized | Bullion/Gold, Metals and Minerals more

Gold miners’ reserve cuts may mean near-term pain, long-term gain

Posted on 27 January 2014

Barrick Gold Corp’s warning this week that its in-the-ground gold reserves will shrink is widely expected to be echoed in the coming weeks by miners around the globe, spelling more asset writedowns for an already beat-up sector.
For the first time in years, miners from Canada to Australia will tell their shareholders that reserves - the future source of production, cash flow and growth - have significantly diminished, hit by bullion’s 28 percent price slide in 2013………………………………………..Full Article: Source


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