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)

Disclaimer: The content on this website, including, without limitation, news, videos, interviews and commentaries, is provided by Kitco Metals Inc. ("Kitco") for informational purposes only and is not intended as any form of advice, whether legal, accounting, investment, financial or tax advice. Therefore, it cannot be relied upon as such. Should you require such advice, contact a licensed professional. The content provided herein is provided on an "as is" basis without any warranty of any kind, whether express or implied and your use of the information provided in said content is entirely at your own risk. In no event will Kitco be held liable for any indirect, special, incidental, or consequential damages arising out of the use of the content on this website.