The Phaserl


Where Silver Wheaton Saves Junior Gold Miners and Massively Profits by It

by Rich Duprey,

ver since the financial markets collapsed in 2008, the landscape for financing has been upended and the difficulty of navigating through the tumult is seen no better than in the mining industry, where falling commodity prices and China’s slowing economy have exacerbated the situation.

Yet mining majors like Barrick Gold (NYSE: ABX ) and Newmont Mining (NYSE: NEM ) have a set of tools to work with that are unavailable to lesser operations particularly those of rival junior miners. Barrick was able to target some $2 billion in additional costs and capital expenditure cuts last September and previously cut its dividend by 75% to save money. Newmont lowered its capex budget all throughout 2013 and last month said it expected to reduce this year’s budget by another 25%.

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