Deferred tax liabilities resulting from newly enacted Chilean tax changes of $329.5 million .I do not understand this.Is it additional taxes AUY will have to pay in future production or additional taxes to be paid for past production.Does this Chilean tax changes affect immediately cash reserves ?
My comments were very polite.Yamana, is focused in Latin America. Osisko will be Yamana's first major asset in Canada.Yamana will have a better geographical diversification and should command a better ratio share price versus cash flow.Looking 2015 forward, the acquisition should be accreditive depending of the gold price and the interest rate.Just an opinion.
The story with the OSK acquisition looks better for AEM than for AUY. AEM is in a good shape and could afford to overpay for an asset whose value became inflated because of a series of bids. GG is a winner in this situation too, as its management had the wisdom not to gamble on OSK and refused to increase its offer for the second time. At the same time, OSK is a pricey and doubtful purchase for AUY. See the article : The OSK Battle Will End Better for AEM Than AUY.
Greenlight's main fund fell 1.5 % in the 1rst quarter, according to the letter. The largest winner was a long bet on (MU) and (GMCR), a short, was the most significant loser.
Under the terms of the royalty agreement, Kirkland Lake will receive US$50 million for a 2.5% NSR royalty on production from the Company's properties including the Macassa Gold Mine. The NSR agreement provides, amongst other things, that: (i) Kirkland Lake has a 3 year option to buy back 1% of the NSR, for total consideration of US$36 million, less the royalty proceeds attributable to the buy back portion of the NSR that has been paid to Franco-Nevada prior to the date of the buy back; (ii) Franco-Nevada has a right of first refusal on any future royalty or stream interests from the Company's properties; and (iii) Franco-Nevada has the option to receive NSR payments in either gold bullion or cash
During the last few years KGI always has deceived investors with deceptive , lower results.A few years ago experts gave to KGI a value of $16.Expansion plan is going very well.Surely at $3.75 to buy KGI is worth the risk.Nothing prevents POG to move up again.
Fiat money is presently the king."We bought gold for two reasons - because we were worried about the inflationary impact of policy and because we thought the financial system was going to fall apart," Sean Corrigan, chief investment strategist at Diapason Commodities Management, said.
"Although it may be completely the wrong judgement, the market has decided that none of those at the moment is a concern."
Alcoa, which was the most valuable U.S. metal producer in 2002, has been overtaken in size and market clout by diversified commodities companies such as BHP Billiton Ltd. and Glencore Xstrata Plc. Its share of global aluminum production shrank to 9.1 % in 2012 from almost 15 % a decade earlier as production in China more than quadrupled to 19.7 M tons.
“China came on the scene 10 years ago and has really driven down global aluminum prices,”
One thing is sure is AUY at $13 is a better buy than at $17.Since a few years Central Banks are net buyers .AUY will increase production during the next years..Gold collapsed last friday by $84.At the same times Goldman Sachs cut iteverything is perfect and gold is obsolete. .I do not understand. Is it possible that there are some manipulation.Just a rationnal opinion.s 2013 price forecast for the second time in six weeks — to $1,545 an ounce from $1,610 — and predicted that average prices would tumble even more in 2014, adjusting the forecast to $1,350 from $1,490.Some European countries,Japan,China, U.S. have a very high level of debts.Suddently some try to make believe people that everything in the world is perfect.Just a rational opinion.
Is Gold About to Make a Comeback?
The gold market continues to disappoint investors as the price of gold continues to trade down. Moreover, the leading gold ETF SPDR Gold Shares (NYSEMKT: GLD) hasn’t been performing well and since the beginning of the year the ETF lost more than 10.8% of its gold holdings on account of the decline in demand for gold as an investment. The ETF’s price fell by 4.8% during the year to reach $152.81. This decline serves as an indicator for the drop in demand for gold as an investment. The launch of QE3, in which the Fed purchases each month $85 billion worth of long term securities, haven’t pull up the price of gold. People are still worried that US dollar will lose its value.
A recent article claims that several States in the U.S are moving towards gold as a legal tender. If these steps will be implemented (if these States will be able to bypass the legal issues involved) the price of gold might eventually resume its rally. If the U.S economy will pull back – the recent U.S employment report raised the concerns regarding the progress of the U.S economy – the price of gold might rally. In the meantime, the U.S dollar remains strong against leading currencies such as the Japanese yen and Euro. The decision of Bank of Japan to augment its asset purchase program is making the Fed’s asset program look conservative. The situation in Europe including the recent debt crisis in Cyprus is keeping the Euro weak. These events are likely to keep the U.S dollar from tumbling down in the near future. If the USD will remain robust, the chances of gold price rising become less likely.
The Bottom Line
I still think the gold market isn’t likely to make a comeback. This is likely to keep pulling down shares of these gold producers. Even if these companies will raise their production level, their profit margin will continue to dwindle, which will pull back investors from these stocks.
Goldman Sachs cut its 2013 price forecast for the second time in six weeks — to $1,545 an ounce from $1,610 — and predicted that average prices would tumble even more in 2014, adjusting the forecast to $1,350 from $1,490. Société Générale in France released a similar message last week, claiming that the gold price is in bubble territory