UPDATE: Newcrest Cuts Gold Production Guidance by 10%
SYDNEY--Newcrest Mining Ltd. (>> Newcrest Mining Limited) cut its output guidance for the third time in two years after production was disrupted at two Southeast Asian gold mines, rattling investors' confidence in the reliability of the Australian miner's targets.
STORIES OF INTEREST
LBMA: February Gold Ounces Transferred -0.5% On Month; Silver -19.6%
Gold ounces transferred in February fell 0.5% on the month, while silver ounces transferred tumbled 19.6%, the London Bullion Market Association said Thursday.
Mariana Resources Widens Loss but Confident of New Direction
LONDON--Mariana Resources Ltd. (>> Mariana Resources Ltd.), a South America-focused gold, silver and copper miner, Thursday posted a slightly wider loss, reflecting a slight drop in revenue, but said it is confident that the new direction of the company will deliver results in 2013.
ZKB ETF Gold Holdings Down 0.2% March 21-26; Silver +0.1%
Gold holdings in the exchange-traded fund of Zurich Cantonal Bank, or ZKB, fell 0.2% in the five days between March 21 and 26, ZKB data showed Thursday.
Randgold Resources 2012 Attributable Reserves +803,000 Oz GOLD
LONDON--Gold miner Randgold Resources Ld. (GOLD) said Thursday its attributable reserves increased 803,000 ounces in 2012, and its overall reserve grade increased to 3.87 grams per ton, or g/t, to 3.84 g/t.
Randgold Resources Well Placed for Further Growth, Eyes New Prospects
LONDON--Randgold Resources Ltd (>> Randgold Resources Limited), said Thursday that it is rapidly advancing its further growth projects and examining new joint-venture opportunities generated by stress in the gold mining industry's junior sector, adding that it is strongly placed for further growth.
Serabi Gold Narrows Loss, Focuses on Palito Production
LONDON--Serabi Gold PLC (>> Serabi Gold PLC), the Brazilian focused gold mining and exploration company, Thursday posted a narrowed pretax loss for 2102 and said its objective now is to start gold production at its Palito mine site in the coming months.
Minera IRL Pretax Profit Falls 47% on Lower Production
LONDON--Minera IRL Ltd. (>> Minera IRL Limited), a Latin America-focsued gold miner, Thursday posted a 47% drop in 2012 pretax profit as lower production incurred higher costs and less revenue, despite a slightly stronger gold price.
Hummingbird Resources Drilling Shows Potential at Dugbe F, Tuzon
LONDON--Hummingbird Resources PLC (>> Hummingbird Resources Ltd), a Liberia-focused gold explorer, Thursday said that the first six holes in the 2013 infill drill campaign, which incorporates both the Dugbe F and Tuzon deposits, suggests that there is significant potential for higher-grade starter pits to be incorporated into the mine plan.
Johnson Matthey Acquires Formox AB for GBP107M
LONDON--Johnson Matthey PLC (>> Johnson Matthey PLC), a producer of catalysts, precious metals and specialty chemicals, said Thursday that it has completed the purchase of Formox AB for 107 million pounds in cash from Perstorp Specialty Chemicals AB, a company owned by PAI Partners.
AngloGold Ashanti Reports Fatality at Mponeng Mine
LONDON--AngloGold Ashanti Ltd. (>> AngloGold Ashanti Limited) Thursday reports the death of an employee at Mponeng Mine near Carletonville, following a fall of ground incident Wednesday morning.
Gold Slips Below $1,600 as Stronger Stocks Lessen Desire for Haven
NEW YORK--Gold futures settled at less than $1,600 for a second time in three trading days Thursday as brighter economic data and stronger equities bolstered investor risk appetite.
-By Tatyana Shumsky, Dow Jones Newswires; 212-416-3095; firstname.lastname@example.org