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Second Quarter Writedowns Worse Than We Thought
Kitco News speaks with Exploration Insights Editor Brent Cook about the struggling mining industry in this edition of “Mining Minutes.” Cook discusses the challenges junior miners are facing and warns of fewer discoveries as more companies cut exploration. “My guess is we’re in for a long bottom,” Cook says. “There’s a lot more writedowns to come.” Cook also points out that miners will focus on higher grade deposits and leave lower-grade materials on the side, which will effectively sterilize the rest of the deposit. Profitable companies need to focus on acquiring deposits that are making money and prove to investors they can make money in mining, Cook says. Kitco News, August 6, 2013. (show less)
Kitco News speaks with Exploration Insights Editor Brent Cook about the struggling mining industry in this edition of “Mining Minutes.” Cook discusses the challenges junior miners are facing and warns of fewer discoveries as more companies cut exploration. “My guess is we’re in for a long bottom,” Cook says. “There’s a lot more writedowns to come.” Cook also points out that miners will focus on higher grade deposits and leave lower-grade materials on the side, which ... (read more)
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