Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Canadian Warrants Only -- Ignore unavailable to you. Want to Upgrade?

To: onepath who wrote (6934)	1/22/2009 10:27:41 AM
From: onepath	Read Replies (1) \| Respond to of 23103

Globe says Kinross, other gold producers tap markets 2009-01-22 05:23 ET - In the News See In the News (C-K) Kinross Gold Corp (2) The Globe and Mail reports in its Thursday edition that there is a "fervent demand" for the shares of gold producers. The Globe's Andy Hoffman writes that Kinross Gold is the largest gold miner yet to tap the receptive stock markets, unveiling a bought-deal financing Wednesday that could raise $414.6-million (U.S.). The company is topping up its war chest by issuing as many as 24 million shares. Even with the equity markets in a tailspin, investors have been willing to buy gold shares on the belief that the bullion price will remain strong amid a severe global downturn. Gold is "one of the few commodities that people believe has a potential upside," says Credit Suisse analyst Anita Soni. Unnamed sources say investment bankers have been beating a path to gold producers, urging them to issue stock while they can. Several already have. Agnico-Eagle Mines raised $290-million (U.S.) last fall. Yamana Gold was next, unveiling plans for a $100-million share offering in December. Because of strong demand it has since increased the financing to $135-million. Even small gold producers such as Red Back Mining and Minefinders have been able to issue stock, raising $60-million and $40-million. -------------------------------------------------------------------------------- R