Well poised to meet the upswing.
from Mine Web
With reporting season now behind us, we decided to take a look and see what health South Africa’s largest gold mining companies were in following a long period of consolidation that had forced many of them to take some painful decisions.
Like many resource companies, gold producers let their costs rise too quickly when the gold price rallied towards the $2,000/oz level a few years ago. Many undertook vast capital expansion programs utilising debt that came back to savagely bite them when the price reversed to $1,100/oz. The four gold majors below have all reported earnings for the quarter and year ending December, and there are a number of common themes.