World Running Out of Gold & Barricks is in financial trouble, Who Should we Call
posted on
Apr 26, 2013 03:44PM
With the world running out of physical gold to sell, and financial trouble in the major gold mining camps, and several analysts reporting that 90% of the JRs could close their doors, WOW, we are witnessing a major paradigm shift take place before our eyes, a pivital point in history of mining, what a great opportunity for a company like Silverado Gold Mining company that is rich with both Gold-Antimony, to step up to the plate to help meet the world's demand for physical gold!! For those of you who don't know, Silverado already has most of the infrastructure in place on their Nolan Creek property, it wouldn't take much capital to get a small operation up and running at Workman's Bench tunnel. The company recently reported they are seeking financing to start mining proudction. Heck, all the company really needs is small capital financing to start, and then they could build a bigger plant as their cash flow increases. With Japanese WILLING to paying $500 premium for US Eagle gold coins, because of the shortage of physical gold, I believe we could see a paradigm shift in thinking from capital financiers to do buisness with Silverado Gold Mining company. http://agoracom.com/ir/Silverado/forums/discussion/topics/571992-nice-post-from-silverado-oil-on-rg/messages/1796777#message
Three South American executives resign from Barrick Gold
Canadian Barrick Gold (NYSE, TSX: ABX) announced Thursday three of its South American executives have resigned, Reuters reports.
Guillermo Calo, president for South America, along with Robert Mayne-Nicholls, the general director of operations, and Rodrigo Jimenez, the regional vice-president for corporate affairs, have quite the unit.
Calo, an Argentinian, started with the company last July.
Earlier in April, a Chilean court suspended Barrick's $8 billion Pascua-Lama project, which lies on the border of Chile and Argentina.
Mining industry sources have claimed the mountainous project was poorly managed.
StockMarketWire.com |
Moody's Investors Service has placed the Baa1 senior unsecured rating of Barrick Gold Corporation and all rated subsidiary issuers guaranteed by Barrick under review for possible downgrade. The review arises from the challenges facing the company on its Pascua Lama project following the Chilean government's injunction to halt construction activity on the Chilean side of the project and the uncertainty this creates with respect to the cost and timing of this project. The review is also attributable to the flat to declining production profile in 2013 relative to 2012 and increasing cost base, and the likelihood of greater-than-expected negative free cash flow particularly given the high capital expenditure profile in 2013 and possibly 2014. |