News

The Winter 2011/12 issue of World Gold Analyst is now available for download by subscribers.

In this issue:

Record Margins = Dividends Windfall?
Producers' margins are outpacing cash cost inflation, so with treasure chests full, will the miners deliver a New Year present to their shareholders?

Metals & Markets
Gold's final fix of 2011 reached US$1,574.50/oz, posting a 10% intra-year increase, and an annual average gain of 28%. The picture for gold equities was much less impressive; in fact it was poor with all major indices losing a significant proportion of their value year-on-year. The Amex Gold Bugs fell by 13%; the FTSE Gold Mines index by 16%; the TSX/S&P by 17% and the XAU by a mighty 20%. In contrast, the Dow Jones posted a 6% gain.

September 2011 Quarter Review
For the three months ending September 2011, the average reported producer cash costs rose by 17% year-on-year, to US$634/oz, lifted by higher energy, labour and consumable costs, while the appreciation of many producer currencies and the higher gold price also had a significant bearing.
In terms of production, the company reporting the highest increase in output was Petropavlovsk with a production increase of 65%, to 228 koz. Randgold Resources' production rose by 81%, reaching 182 koz and Canadian Osisko Mining, delivered 74 koz of fresh production from its Canadian Malartic project.

World Gold Explorer
World Gold Analyst has just published its latest Special Reports, on gold exploration and development in the Canadian Provinces of Ontario and Quebec. In World Gold Explorer we summarise the main findings of the reports.

World Gold Analyst's new independent reports on Ontario and Quebec are now available for download.

The Canadian provinces of Ontario and Quebec have always been known for their geological prospectivity and their long heritage of deep-level, hard rock gold mining in such districts as Timmins and Val d'Or.

The Fraser Institute, reports that out of seventy nine jurisdictions worldwide, Ontario is the eighteenth most popular destination for exploration, with Quebec in third place.

These major reports present a comprehensive review of the current status of gold exploration and development activity in what is one of the most active regions of the world and cover the whole spectrum of exploration from grassroots work, through resource definition up to producing mines.

The Ontario report covers 93 companies and over 200 individual projects. The Quebec report includes the activities of 66 companies and 175 projects.