Distressed Gold Miners Set To High Grade Their Assets

Gold miners facing closure or maintenance care threats are set to begin high grading their assets, amid weaknesses in gold prices. Nomura published its equity research report today on global metals and mining.  The report focused on gold, and offers the opinion that with average all-in costs near the current gold price, gold mining companies may face the threat of closures. Anticipating a short-term rebound in gold prices, the Japanese broker upgraded its ratings for some gold mining peers. Upgrades Randgold, Polymetal and African Barrick Gold Tyler Broda and the team at Nomura, however, feel high grade miners such as…