Volume 99 Number 2 Feb 25 - Mar 3, 2013

Editorial: Writedowns and the damage done

Another week, and we present yet another issue filled with talk of writedowns, dividend cuts and CEO exits among the majors. It’s been the theme of much of the producers’ side of the industry these past few months.

Pit stripping and excavation activity at Turquoise Hill Resources' Oyu Tolgoi copper-gold project in Mongolia's South Gobi dessert. Sources: Turquoise Hill Resources

Oyu Tolgoi’s feasibility study delayed

Turquoise Hill Resources (TRQ-T, TRQ-N) updated the market with good and bad news about its 66%-held Oyu Tolgoi copper-gold project in Mongolia’s South Gobi desert.

Processing facilities under construction at Santacruz Silver's Rosario silver-gold-zinc-lead project in Mexico. Source: Santacruz Silver

HSBC’s sunny silver outlook

James Steel of HSBC in New York is raising his average price forecast for silver to US$33 per oz. for 2013 and to US$31 per oz. for 2014, up from US$32 per oz. and US$28 per oz. owing to improving industrial demand and investor appetite, and a…

The Hinge mine portal at San Gold's Rice Lake mining complex in Manitoba. Source: San Gold

San Gold sinks on higher costs, lower guidance

San Gold (SGR-T) shares tumbled 42% over three trading days after the gold miner missed market expectations with its 2012 production results, three-year guidance and updated reserve-and-resource estimate, all published on Feb. 8.

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