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Glencore: 2016 Half-Year Report - further Losses

"Delivering on our debt reduction plan, underpinned by industry-leading cost performance and robust operating cash flows"

Glencore's Chief Executive Officer, Ivan Glasenberg, commented: "Since we announced our measures to reduce debt levels last September, we have made considerable progress towards achieving our goals.

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Sika AG: dynamic Growth

  • Sales growth of 7.6% (6.9% in CHF) to CHF 2,806 million
  • Growth in all regions
  • Net profit up 24.8%
  • 2 new national subsidiaries; 6 new factories
  • Confirmation of annual targets: 6-8% sales growth and disproportionately high growth in profitability
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Why Mining Stocks Are Rising post-Brexit

  • Miners followed gold

Most mining companies reversed their 2015 losses during the first few months of 2016, posting substantial gains. The correlation between mining stocks and gold remains high. Most miners surged following the gains in gold. Friday was important. Gold rose to a two-year high due to additional haven bids on the Brexit referendum. Almost all mining stocks rose on Friday.

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SSAB’s Rights Issue oversubscribed

 

The preliminary result of SSAB AB’s rights issue, for which the subscription period ended on June 17, 2016, indicates that 472,855,180 class B shares, corresponding to approximately 98.4 per cent of the class B shares offered, were subscribed for by the exercise of subscription rights. Additionally, applications for subscription without subscription rights of 190,420,454 class B shares, corresponding to approximately 39.6 per cent of the class B shares offered, have been received. Thus, the rights issue is oversubscribed. As a result of the rights issue, SSAB will receive proceeds amounting to approximately SEK 5 billion before transaction costs.

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Turquoise Hill Resources: 4-Q-2015 Production for Oyu Tolgoi - continued to operate at Record Levels

Jeff Tygesen, Turquoise Hill Chief Executive Officer, said, “Oyu Tolgoi continued to operate at record levels for the fourth quarter. Productivity improvements in the concentrator implemented throughout the year led to throughput for the quarter exceeding nameplate capacity. Thanks to the focus and dedication of Oyu Tolgoi’s workforce, we beat our 2015 copper production guidance and met our gold target.”

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Eldorado Reports 2015 3Q Financial and Operational Results

For the third quarter ended September 30, 2015, Eldorado Gold Corporation, reports gold production of 183,226 ounces (Q3 2014 - 192,578 per ounce) with average cash costs of $552 per ounce (Q3 2014 - $488 per ounce).  Adjusted net loss for the quarter was $4.0 million ($0.01 loss per share) compared to a $36.1 million profit ($0.05 per share) in Q3 2014.

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SNL Metals & Mining: Mining Industry Valuation goes below USD1 trillion

  • Mining industry valuation goes below US$1 trillion according to SNL Metals & Mining’s latest report.
  • The mining industry's value to investors has fallen for five consecutive months.

The market value of the mining industry's listed companies has fallen below US$1,000 billion for the first time since April 2009. In its recently published Industry Monitor, SNL Metals & Mining notes that the aggregate market capitalization of 2,684 listed companies tracked in the SNL database at the end of September was only US$934 billion, compared with US$1,030 billion at the end of August. This represents a 9.3% month-on-month decline (there was the same number of listed companies).

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