An Insider's Guide to the Mining Sector: An In-Depth Study by Michael Coulson

By Michael Coulson

The chance of quick riches provides the mining region an visible glamour. And while the mining zone starts off to run it may be an amazing sight and the thrill generated could be each piece as seductive and heady as that which enveloped markets in the course of the net increase. yet as a result of the counter-cyclical nature of many mining shares, they could additionally supply a precious shelter whilst inventory markets flip down. during this e-book, Michael Coulson supplies a masterly assessment of the field, explains either the rewards and the pitfalls of making an investment in mining stocks and argues convincingly that mining should still once more shape a center zone for all traders. The e-book is for somebody attracted to mining, and especially mining as an funding. while it comprises fabric so one can be precious to even skilled fans of the sphere, its major objective is those people who are drawn to mining yet possibly now not quite acquainted with the field, and want to be aware of extra. the entire topics are lined which are funda

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Precious metals The other area we will look at is the precious metals sector, including gold. Gold is a metal with characteristics which mean that it can perform very well during times of economic weakness if that weakness is accompanied by inflation and/or strains in the financial system. It also does have linkages with the economic cycle, as one of the key areas of consumer demand for gold is jewellery. Other precious metals, particularly platinum, are influenced by consumption driven economic growth, although platinum is seen as something of a technological metal which does give it some ability to outperform the economic cycle.

Its central importance to the economy is unarguable, but this does give it a high profile, and because of that it is currently in the firing line of both government and political groups seeking to siphon off its cash flow. During the apartheid era most South African mining companies could be counted on to pay out good dividends as a counter to the perceived political risk. These days, dividend flows from South African companies, with the possible exception of the fairly full distributions of the platinum companies, are more modest as companies seek to emphasise the growth prospects of retaining earnings for expansion.

In the course of this a number of new mining 9 An Insider's Guide to the Mining Sector companies have sprung up, ARM, which amongst a wide portfolio of assets has a 16% stake in Harmony Gold, is probably the best known. However, there are a number of problems associated with these deals. The main one is the question of how they are financed, as many of the interested groups do not have the resources to make straight asset purchases. The most usual route is for the empowerment group to borrow money to make the purchase, using the cash flow from the asset to pay interest and principal.

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