51% stake in Peru project to JV partner

To participate in the forum you must log in or register.

<b>Gold</b> Fields <b>sells</b> 51% stake in Peru project to JV partner Posted: 19 Aug 2014 12:41 AM PDT JOHANNESBURG (miningweekly.com) – Gold major Gold Fields will sell its 51% stake in the Chucapaca gold mine, in Peru, to its joint venture partner in the project Compañía de Minas Buenaventura for $81-million. In addition to the $81-million, Gold Fields would also receive a 1.5% net smelter royalty on future sales of gold, copper and silver produced at the current Chucapaca concession. "We are pleased to have agreed terms with Buenaventura to sell our controlling stake in Chucapaca. The royalty agreement provides us with future upside, as we see Buenaventura, with its local expertise and experience, advancing this project fairly quickly," Gold Fields CEO Nick Holland commented. "Chucapaca, as an underground mining project located in Peru, offers an important potential to continue growing in terms of gold resources and future production. This acquisition fits perfectly with Buenaventura's expertise to develop underground mining operations that will permit the maximisation of shareholders value, adding precious metal resources to our portfolio," Buenaventura chairperson and CEO Roque Benavides stated. Meanwhile, Gold Fields said the sales price and the royalty deal would ensure that the company's investments in the project were recouped. At end-December 2013, Chucapaca had gold mineral resources of 6.1-million ounces and, therefore, the sale price equated to $26.20/oz of attributable gold resource, which was in line with weighted average enterprise values of openpit projects globally, the company noted. "The sale of our stake is in line with our strategy of focusing on growing cash flow and moving away from greenfield exploration and new project development as a strategy for growth, in favour of the acquisition of in-production ounces and near-mine exploration and development," Holland added. Earlier this year, Gold Fields sold its 85% interest in the Yanfolila project, in Mali, to London-listed Hummingbird Resources. It also sold its interest in the Talas project, in Kyrgyzstan. Edited by: Chanel de Bruyn To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.
<b>Sell</b> my <b>Gold</b> & non-PM coins to buy Silver, good investment ? - Coin <b>...</b> Posted: 19 Aug 2014 01:28 PM PDT To participate in the forum you must log in or register.
Author	Topic
Valued Member Canada 72 Posts	Posted Yesterday 4:28 pm I am wondering, given that many say the price of silver is/has been artificially manipulated downward for a long time but at some point will increase dramatically due to shortages and a return to fair market value, would now be a good time to sell my gold & non-PM coins and put it into silver ? I am interested in this community's Opinions and I fully realize that no can know for sure what the future will bring, BUT, I would really like to know what you more knowledgeable than myself folks think. I inherited a fair size but Very mixed collection which has been quite the learning curve for me, I really enjoy it but I also want to someday get the most out of it that I can. Thoughts ?

Valued Member South Africa 323 Posts	Posted Yesterday 4:36 pm No one can say what silver will do its only a guess but if I where you I wont sell, rather Just start buying silver Send note to staff
Valued Member Canada 271 Posts	Posted Yesterday 4:41 pm I'd sell what you don't want to keep to buy stuff you want to buy. Personally I'm selling some of my coins and going to bullion. Send note to staff
New Member Canada 24 Posts	Posted Yesterday 4:51 pm You might get more traffic if you post this in the P.M. forum, Canadtech. I have been buying silver lately because a) it is pretty low right now and b) I have my first "real" job. Like ASEnut said no one can say for certain and you can always just buy silver but if you are strapped for cash or you want to develop, lets say, a really nice Maple Leaf collection you could sell some of your inherited clutter and re-focus. I find the occasional prune is good for my collection. Have you done all your homework so you know the pros and cons of things like rounds, junk, coins, N.C.L.T, bars etc. etc,? Send note to staff
Pillar of the Community United States 505 Posts	Posted Yesterday 5:15 pm I don't like any of the metals right now. I would sell and go to cash or an alternative investment. Send note to staff
Pillar of the Community Canada 894 Posts	Posted Yesterday 5:19 pm I would hold off on swapping your gold for silver until the GSR gets up to around 75 - 80... (if it ever gets there). As for the price of silver... well who's to say what on that.. It is my opinion that the price of silver shot up to nearly $40 an oz because of the "paper silver" and silver derivatives all having to hold as much physical as they were selling on paper. This in short cause a spike in demand.. Silver has been dancing around 18-24 for the last two years and I personally don't see any reason why it would "spike" in price at anytime soon. I would caution the purchase of PM's in terms of an "investment" strategy.. and state that buying PM's is more like hedging against inflation. Now what would I do if I was in your shoes? Well if I had a bunch of coins which I really wasn't interested in... I would most likely sell them to get into something I was more interested in... be it skiing, fishing, dance lessons or PM's .. what ever tickles your fancy... life is short enjoy it! Send note to staff
Pillar of the Community Canada 1423 Posts	Posted Yesterday 5:43 pm Why sell gold now? To replace it with silver, a metal that trends with gold? Joined on Nov 05 2011 Became a valued member on Nov 28 2011 Pillar of the Community -- May 28 2012 Send note to staff
Valued Member Puerto Rico 76 Posts	Posted Yesterday 6:10 pm No, I am a collector, not an investor or speculator. Send note to staff
Pillar of the Community Canada 791 Posts	Posted Yesterday 6:45 pm Quote: Why sell gold now? To replace it with silver, a metal that trends with gold? Peterson......silver does not trend with gold. Over the last 15 years, you could have greatly increased your PM ounces by swapping silver for gold and then swapping back the gold for silver when the ratios favoured this. The GSR (gold silver ratio) has fluctuated from 35:1 to 100:1. EX. at 100:1 you swap your 5 ounces of gold for 500 ounces of silver. When the ratio hits 35:1, you swap your 500 ounces back to gold and you receive 14.2 ounces of gold. The beauty of this system is you need not pay attention to the price of the PM's, rather you must focus in on their 'relative' price to each other. Edited by doubleeagle59 Yesterday 6:46 pm Send note to staff
Valued Member Canada 72 Posts	Posted Yesterday 6:51 pm Interesting replies so far, along the same lines of what I've been thinking. from my reading it is clear the gold/silver ratio is a long way from the historical average, with silver much lower. some are saying that both are likely to go up, that suppression can't last forever and that if the historical ratio returns silver will gain more in value than gold. from what I'v been reading it sounds like "paper" gold and silver is a giant scam, with many people supposedly "owning" the very same possibly even non-existent piece of metal, I will not go anywhere near that. If I had more expendable cash I would be buying more silver, and I am wondering if there's more to gain with silver than gold, I've read some quite convincing sounding arguments for silver over gold. Send note to staff
Valued Member Canada 72 Posts	Posted Yesterday 6:59 pm doubleeagle59 i hadn't thought of that, interesting, I was mainly thinking about swap and hold. More food for thought ! Send note to staff
New Member Canada 24 Posts	Posted Yesterday 6:59 pm The bottom could drop out of either or. I do not play the metals game per se (other then to use as trading tools) but I suppose the old adder "Don't put all your eggs in one basket" applies here. Send note to staff
Pillar of the Community Canada 791 Posts	Posted Yesterday 7:23 pm I believe for the long haul, PM's is the only way to go. Think of it this way. If you were handed $100,000.00 and told you had to invest it for 20 years and you could only invest it in one sector without changing it for the 20 years, would you choose: a) cash b) stock market(choose one blue chip stock) c) balanced mutual fund (most likely includes a good percentage of bonds) d) Precious metals, Platinum, gold and/or silver. With the abundance of money printing and huge run up of government debts, I would hope everyone would choose 'd'. Send note to staff
Valued Member Canada 315 Posts	Posted Yesterday 7:25 pm e) Real Estate Send note to staff
Pillar of the Community Canada 894 Posts	Posted Yesterday 11:00 pm The GSR swap is THE best way to gain free metal. And as one previous poster had mentioned you don't have to care about what the price of gold or silver is at any point... Now I have my own opinions on gold and silver... I really don't use either as an "investment"... sure I buy them but to me owning them is like storing money in the mattress.. just this currency is recognized all over the world.. easily transportable and very malleable. If you look at what an ounce of gold could buy 100 years ago, it's pretty much the same.. the difference in dollar value is attributed only to inflation. That's why I don't look at PM's as investment at all.... To answer doubleagle's proposition with 100K I would NEVER place all the eggs in one basket.. but IF I had to pick one it WOULD be stocks... but MORE than just one.... Send note to staff
Pillar of the Community United States 1880 Posts	Posted Today 7 Hrs 21 Min ago Then the gov steps in and caps PM prices, or even outlaws ownership, to protect the dollar. Anything is possible. Oldest dug 2014: 1851 LC 2014 silvs from circ: 38 Oldest finds circulated: 1894 Barber half 1900 Victoria dime Oldest dug: 1758 Reale Minelab Explorer 2 Send note to staff
	Topic