Gold miners see share prices soar
Victoria Hewitt-Marsh, News Editor
17 Feb 2014, 10:24 a.m.
Petropavlovsk share price increased by 25% to 91p last week upon news that its current hedging program finishes later this year leaving the company exposed to the spot price.
Fresnillo the Mexican gold and silver miner rose 20% to 971p, helped by strong metal prices and the news that its explosives permit at Herradura and Soledad mines has been reinstated.
UK listed African Barrick Gold climbed 16% to 273p helped by gold’s strong performance and news that production increased by 3% to 641,931 ounces. Although, it is worth noting that Barrick’s all in sustaining costs of production remains above the current spot price at $1,362 per ounce.