Gold Silver Reports — Gold miners seem to be justifying their barnstorming performance this year. Bullion producers are among the bestperforming equities, with the BI Global Senior Gold Valuation Peers index more than doubling in 2016 as the metal rallied to a two-year high. They’ve also benefitted from a lot of self help, as payback from years of cost-cutting and improving operations start to materialise.
Gold Miners Justify Rising Shares
Acacia Mining is the latest example. The London-based company had a torrid time since listing in the city in 2010 with a series of project setbacks and missed production targets. Un der new CEO Brad Gordon, it has sought to turnaround its fortunes and focus on cutting costs and improving its flagship Bulyanhulu mine in Tanzania.
The company said that fullyear production may exceed its target, raised its interim dividend by 43% and expects costs to fall further. — Neal Bhai Reports