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Venezuela fights crisis with biggest sovereign gold sale since 2007
By Ranjeetha Pakiam and Eddie Van Der Walt
Bloomberg News
Wednesday, May 25, 2016
Venezuela held the biggest gold sale by a central bank in eight years as the country's economic crisis deepened and the government faced concern that it may struggle to honor bond payments.
The country cut its gold reserves by 16 percent in the first quarter, following a 24-percent reduction in 2015, according to data from the International Monetary Fund. The quarterly sale was the largest by any central bank since Switzerland sold 3.2 million ounces in the third quarter of 2007. ...
... For the remainder of the report:
http://www.bloomberg.com/news/articles/2016-05-25/venezuela-s-gold-holdi...
The Gold Mine Barrick Might Regret Having Sold
K92 Mining is poised for production at its Papua New Guinea gold project and has just listed on the Toronto Venture exchange under the symbol KNT.V.
The gold mining startup came together during one of the toughest periods in mining history.
K92's main asset is the Kainantu project, a large high-grade gold resource with extensive infrastructure including underground mine development, a mill processing facility, a fully permitted tailings pond, and paved roads. The infrastructure means K92 can aim to restart mining in the near term with minimal capital costs and seek to grow through cash-flow funded exploration on the roughly 405-square kilometer property, considered prospective for additional discoveries.
For more information, please visit:
https://ceo.ca/@tommy/the-gold-mine-barrick-might-regret-selling
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