In the News (C-B2Gold)
The Financial Post reports in its Thursday edition that gold miners in Mali say they are operating as usual while monitoring a political crisis that caused the country's borders to shut and hit their share prices on Wednesday. A Reuters dispatch to the Post says that President Ibrahim Boubacar Keita resigned on Tuesday and dissolved parliament hours after soldiers detained him at gunpoint and seized power in a coup. Barrick, the biggest miner in Mali, said its Loulo-Gounkoto mine complex -- which analysts at Scotiabank estimate will account for 9 per cent of the company's production this year -- had not been affected. B2Gold, Resolute Mining, Anglogold Ashanti, Hummingbird Resources and Cora Gold said operations and staff were unaffected, but traders sold shares because of increased political risk. Resolute Mining shares fell 11.7 per cent, Hummingbird dropped 9.4 per cent, B2gold fell 8.8 per cent, Anglogold Ashanti lost 4 per cent and Barrick fell 2.7 per cent. Cora Gold shares were down 9.3 per cent. Reuters notes that gold operations in the vast, land-locked nation are located in the south and west, hundreds of kilometres from the capital Bamako where the coup took place.
© 2020 Canjex Publishing Ltd. All rights reserved.