|

AngloGold to acquire Augusta Gold in Nevada expansion

ByVictoria

AngloGold Ashanti (NYSE:AU) said Wednesday it agreed to acquire Augusta Gold (OTCQB:AUGG) for C$1.70/share in cash, implying a fully-diluted equity value of ~C$152M (US$111M).

The price represents a ~28% premium to Augusta Gold’s (OTCQB:AUGG) closing price on the Toronto Stock Exchange on July 15.

“This acquisition reinforces the value we see in one of North America’s most prolific gold districts,” AngloGold (AU) CEO Alberto Calderon said.

Source – Seeking Alpha

Similar Posts

  • / /

    Gold, silver prices plummet in US Fed cuts

    ByVictoria
    0 Comments

    “Gold fell sharply post-Federal Open Market Committee (FOMC) meeting as the Fed’s indication of a slower pace of interest rate cuts than previously estimated for the next year,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.

    Silver quoted 2.47 per cent lower at USD 29.98 per ounce in the international markets.

    “Investors are anticipating US weekly unemployment claims data to be released later on Thursday to assess the strength of the labour market, while focusing on the Personal Consumption Expenditures (PCE) price index data on Friday,” Abans Holdings’ Chief Executive Officer Chintan Mehta said.”

    “We expect gold prices to rise further, but any delay in additional interest rate cuts could lead to short-term declines, creating opportunities for accumulation, Mehta said.”

    Source – Press Trust of India

  • / /

    Gold and Silver up around the world

    ByVictoria
    0 Comments

    Gold prices in India skyrocketed by Rs 6,250 on Friday to reach a historic high of Rs 96,450 per 10 grams in the national capital, fuelled by robust demand from local jewellers and soaring global prices driven by heightened US-China trade tensions, according to the All India Sarafa Association.

    Gold of 99.9% purity also saw a significant jump, closing at Rs 96,450 compared to Wednesday’s Rs 90,200.

    Silver too followed suit, leaping Rs 2,300 to settle at Rs 95,500 per kg from its earlier close of Rs 93,200, mirroring the bullish global momentum.

    Comex gold futures climbed to a record USD 3,249.16 per ounce, signalling strong safe-haven demand.

    “Comex gold prices hit lifetime highs due to surging safe-haven demand, triggered by fears of a deepening global economic slowdown and further retaliation between the US and China,” said Kaynat Chainwala, AVP-Commodity Research at Kotak Securities.

    Source – The Times of India

  • /

    Gold slips, Dollar gains

    ByVictoria
    0 Comments

    Gold prices fell sharply by Rs 1,000 to Rs 98,400 per 10 grams in the national capital on Monday, amid a weak global trend and optimism surrounding a possible US-China trade agreement, according to media reports citing the All India Sarafa Association.

    “Gold prices continued to decline as easing US-China trade tensions boosted investors’ risk appetite, reducing demand for safe-haven assets like bullion while a stronger dollar added downward pressure,” said Chintan Mehta, Chief Executive Officer of Abans Financial Services, as quoted in media reports.

    “Rising geopolitical tensions could limit gold’s downside. As war risks escalate and new conflicts emerge, investors are likely to seek refuge in gold.”

    Source – Kashmir Life

  • /

    Peter Krauth: US$40 Silver in 2025?

    ByVictoria
    0 Comments

    “I think that given the setup right now, we have decent odds of returning probably — possibly — somewhere to that US$35 level before the middle of the year, and before we reach the end of this year we could probably touch potentially US$40 in silver,” he told the Investing News Network.

    Peter Krauth is the editor of Silver Stock Investor.

    Source – Investing News Network

  • /

    Amundi Physical Metals expands gold-backed ETC offerings

    ByVictoria
    0 Comments

    The Amundi Physical Gold ETC is designed to track the performance of gold prices, offering an alternative to direct investment in the precious metal. The securities are backed by allocated gold stored in secure vaults, with each ETC security representing a specific entitlement to gold, which diminishes slightly each day to cover operational expenses at an annual rate of 0.12%.

    Investors should note that the ETC securities are not the equivalent of investing in gold directly, as they are financial instruments subject to market fluctuations and other risks inherent to securities trading. 

    Source – Investing.com

  • /

    Gold reaches Rs 83,000 per 10 grams for the first time

    ByVictoria
    0 Comments

    “Gold extended gains on Friday, with spot gold in the domestic market hitting fresh all-time highs,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.

    “Prices in MCX are near record high as Trump trade policies and tariff plans created an uncertain environment in the market, which may boost safe-haven demand,” Deveya Gaglani, Research Analyst-Commodities, Axis Securities, said.

    Comex silver futures also increased 1.53 per cent to USD 31.32 per ounce in the Asian market hours.

    Source – Press Trust of India