PRECIOUS METALS HIGHLIGHTS : Top Stories of the Day
02/21/2013| 05:08pm US/Eastern
STORIES OF INTEREST
Banro Plans $90 Million Financing; To Issue Gold-Linked Preferred Shares
Canada-listed gold mining company Banro Corp. (BAA, BAA.T) detailed plans Thursday to fund its Congolese operations with a financial instrument tied to both output and the price of gold, one of the first of this type of deal for the industry.
Greece to Approve Eldorado Gold Project After Vandal Attack on Mine
ATHENS--Greece's government is vowing to speed up approval for a gold mine in the country's north in a bid to calm Canadian miner Eldorado Gold Corp.'s (>> Eldorado Gold Corp) concerns about a swift, violent attack by masked vandals on one of its other mines over the weekend.
Pan American Silver Swings to 4th-Quarter Loss on Write-Down
The company--which mines silver and gold in Mexico, Peru, Bolivia and Argentina--last year spent about $1.5 billion to acquire Minefinders Corp., operator of the multimillion-ounce Dolores gold and silver mine in northern Mexico, to help boost near-term output. In addition to gold and silver, Pan American produces lead, zinc and copper as byproducts.
Norilsk Recommends Three Independent Board Directors
MOSCOW--Russian mining giant Norilsk Nickel (>> GMK Noril'skiy nikel' OAO) Thursday recommended three people to sit as independent directors on the company's board as the firm works to implement a recent settlement that ended a bruising shareholder dispute.
ZKB ETF Gold Holdings -0.6% Since Feb 11; Platinum -0.2%
Gold holdings in the exchange-traded fund of Zurich Cantonal Bank, or ZKB, fell 0.6% in the eight days between Feb. 11-19, according to ZKB data Thursday.
Gold Ends Higher as Prices Steady After Five-Day Slide
NEW YORK--Gold futures inched into positive territory Thursday as some investors locked in profits on gold's five-day slide by closing out bearish bets on lower gold prices, while others bought gold at levels not seen in seven months.
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