Sources available to offer insight on Q2 Canadian mining and metals trends
TORONTO, Aug. 6, 2013 /CNW/ - Headwinds felt by Canadian mining and metals companies in the first quarter of the year continued in Q2 with the TSX and TSXV closing with a 34% decline — a drop exacerbated by ongoing uncertainty around the price of gold, according to EY's Canadian Mining Eye: Q2 2013.
The index — which tracks Canadian mining sector performance of 100 TSX and TSXV mid-tier and junior companies with market capitalizations broadly falling between CDN$1.6b and $75m — details how growing concerns around gold prices are translating into a challenging market, particularly for access to capital, as investors become more risk averse.
The report describes how these companies are addressing challenges by focusing on streamlined operations, efficient cost management and capital management practices, including the disposal of non-core assets. Many companies are also pursuing creative financing options by seeking out opportunities in debt markets and attracting private investors with a long-term perspective on the sector.
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SOURCE: EY (Ernst & Young)
EY's Canadian mining and metals team is available to offer insight into the report's findings. To reach a spokesperson, or for more info, please contact:
Erika Bennett
[email protected]
416 943 5497
Sarah Shields
[email protected]
604 648 3607
Julie Fournier
[email protected]
514 874 4308
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