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Daily Dispatches
Barrick CEO blasts rivals for chasing mergers -- while grappling with his own big writedown
Submitted by admin on Fri, 2023-02-17 09:45 Section: Daily DispatchesBy Tim Kiladze
The Globe and Mail, Toronto
Wednesday, February 15, 2023
https://www.theglobeandmail.com/business/article-barrick-stocks-q4-losses/
Barrick Gold Corp. CEO Mark Bristow cannot believe rival miners are contemplating expensive mergers and acquisitions all over again, after the industry suffered through tens of billions of dollars' worth of merger and acquisition writedowns when the last commodity supercycle crashed.
From an African hell hole, Reuters suggests that gold is the ultimate money
Submitted by admin on Thu, 2023-02-16 19:44 Section: Daily DispatchesBurkina Faso Buys 200 kg of Gold from Endeavour's Mana Mine
From Reuters
Thursday, February 16, 2023
OUAGADOUGOU, Burkina Faso -- Endeavour Mining has sold kilograms (7054.79 oz) of gold from its Mana mine in Burkina Faso to the West African country's government, the company told Reuters on Wednesday.
The UK-headquartered multinational is the biggest gold miner in Burkina Faso, which is funding a battle against a rampant jihadist insurgency that spurred two military coups last year.
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India's January gold imports plunge 76% to 32-month low
Submitted by admin on Thu, 2023-02-16 19:27 Section: Daily DispatchesBy Rajendra Jadhaw
Reuters
Thursday, January 16, 2023
MUMBAI -- India's January gold imports plunged 76% from a year earlier to a 32-month low on subdued demand after domestic prices rallied to record highs and as jewellers postponed purchases, hoping for a reduction in import duty, a government source said.
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Alasdair Macleod: Gold's return as money
Submitted by admin on Thu, 2023-02-16 12:42 Section: Daily DispatchesBy Alasdair Macleod
GoldMoney. Toronto
Thursday, February 16, 2023
The consequences of Russia and her Asian allies embracing gold backing for their currencies are poorly understood in western capital markets. This move could lead to the destruction of the global fiat currency system.
Newcrest tells Newmont to raise its acquisition bid
Submitted by admin on Wed, 2023-02-15 21:42 Section: Daily DispatchesBy Nick Toscano
Sydney Morning Herald
Thursday, February 16, 2023
Top Australian gold miner Newcrest has rejected a takeover proposal from U.S. mining giant Newmont, arguing that it undervalues the company, but has agreed to open its books to see if it can extract a higher offer from the suitor.
Newmont, the world's largest listed gold miner, launched a bid this month to acquire all of Melbourne-based Newcrest's shares at a 22% premium to their previous closing price in a deal that values the company at nearly $US17 billion (A$24.4 billion).
Barrick eyes Nevada gold mines, won't bid for Newcrest
Submitted by admin on Wed, 2023-02-15 11:55 Section: Daily DispatchesBy Divya Rajagopal and Helen Reid
Reuters
Wednesday, February 15, 2023
Barrick Gold Corp. would be open to taking over Newmont's stake in its Nevada Gold Mines joint venture, CEO Mark Bristow said today, after Newmont's $16.9-billion bid for Newcrest ramped up pressure on gold miners to do deals.
The Newcrest acquisition by Newmont, if successful, could result in the enlarged company shedding some assets.
Turkey to temporarily suspend some gold imports after quakes
Submitted by admin on Tue, 2023-02-14 22:24 Section: Daily DispatchesBy Firat Kozok
Bloomberg News
Tuesday, February 14, 2023
Turkey will suspend some gold imports as part of an emergency plan to mitigate the economic fallout from twin earthquakes that hit the country’s southeast last week, according to an official with direct knowledge of the matter.
The Treasury and Finance Ministry has finalized the regulation that will force a pause in gold purchases from abroad that fall into the category of "cash against goods," the official said, asking not to be identified as the decision has not been made public.
Clint Siegner: Choose your bullion dealer carefully
Submitted by admin on Tue, 2023-02-14 13:14 Section: Daily DispatchesBy Clint Siegner
Money Metals News Service, Eagle, Idaho
Monday, February 13, 2023
Regal Assets, a somewhat prominent gold and silver dealer in southern California, is in serious trouble based on news released last week. Tyler Gallagher, the firm's high-flying owner, has reportedly vanished -- perhaps to avoid arrest and prosecution.
Regal clients are now talking to the press about their inability to get delivery of the metal they bought and paid for. The Regal website has been taken offline.
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On 'Live from the Vault,' Maguire and Macleod discuss Russia's weaponizing gold
Submitted by admin on Sun, 2023-02-12 10:10 Section: Daily Dispatches10:09a ET Sunday, February 12, 2023
Dear Friend of GATA and Gold:
On Kinesis Money's "Live from the Vault" program this week, London metals trader Andrew Maguire and GoldMoney research director Alasdair Macleod discuss the plans of Russia and other countries to develop a gold-based trade settlement currency. As Russia weaponizes gold, Macleod sees the U.S. dollar as being extremely vulnerable in the foreign exchange markets.
The discussion is an hour and 18 minutes long and can be viewed at YouTube here:
Egypt says it ranks third in growth of gold reserves
Submitted by admin on Sun, 2023-02-12 10:01 Section: Daily DispatchesBy Al-Masry Al-Youm
Egypt Independent, Cairo
Saturday, February 11, 2023
The adviser to the minister of supply and internal trade for gold industry affairs, Nagy Farag, announced Friday that Egypt ranks third globally in the growth of gold reserves.
He specified that Egypt does not rank third in total gold reserves but in terms of the strategic growth of its reserves.
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