Anyone familiar to the gold mining business knows about the acquisition of mid-tier producer Osisko Mining by Agnico Eagle and Yamana Gold. Excess working capital of Osisko was pooled in a new gold streamer named Osisko Royalties.
Tuesday, 24 May 2016
Monday, 9 May 2016
Ever since bottoming barely above 100 on Jan 19, 2016, the HUI gold miners index more than doubled. It closed at 226,1 on Friday May 6, up 125% from its trough or 103% year-to-date. However, after peaking at 233.5 by the Apr 29 close, we witnessed a week with wild gyrations, starting with a three days losing streak culminating in the 10.25% landslide loss on Wednesday May 4. Much overdone so it seems, since the Thursday recovery rally was in fact anticipating precious metals eventually firming on Friday May 6.