Gold Fields sees progress in winning investors over to Yamana deal.
Shares in South Africa-headquartered Gold Fields dropped 20% when the deal was unveiled on May 31, as investors worried about the dilution to their holdings and the premium being paid.Griffith, who has been talking to investors to try to persuade them of the merits of the deal, said Gold Fields was “very much on track” to get the deal approved by shareholders at a meeting expected by early November.
“Given the fact that we had spent seven months doing due diligence, it was highly unlikely that shareholders were going to understand it on day one,” he said. Gold Fields, which has operations in Africa, Australia and South America, reported a 29% jump in half-year profit, driven by higher metal prices and increased production.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
A cross-country analysis of macroeconomic responses to COVID-19 pandemic using Twitter sentimentsThe COVID-19 pandemic has had a devastating impact on the global economy. In this paper, we use the Phillips curve to compare and analyze the macroeconomics of three different countries with distinct income levels, namely, lower-middle (Nigeria), upper-middle (South Africa), and high (Canada) income. We aim to (1) find macroeconomic changes in the three countries during the pandemic compared to pre-pandemic time, (2) compare the countries in terms of response to the COVID-19 economic crisis, and (3) compare their expected economic reaction to the COVID-19 pandemic in the near future. An advantage to our work is that we analyze macroeconomics on a monthly basis to capture the shocks and rapid changes caused by on and off rounds of lockdowns. We use the volume and social sentiments of the Twitter data to approximate the macroeconomic statistics. We apply four different machine learning algorithms to estimate the unemployment rate of South Africa and Nigeria on monthly basis. The results show that at the beginning of the pandemic the unemployment rate increased for all the three countries. However, Canada was able to control and reduce the unemployment rate during the COVID-19 pandemic. Nonetheless, in line with the Phillips curve short-run, the inflation rate of Canada increased to a level that has never occurred in more than fifteen years. Nigeria and South Africa have not been able to control the unemployment rate and did not return to the pre-COVID-19 level. Yet, the inflation rate has increased in both countries. The inflation rate is still comparable to the pre-COVID-19 level in South Africa, but based on the Phillips curve short-run, it will increase further, if the unemployment rate decreases. Unfortunately, Nigeria is experiencing a horrible stagflation and a wild increase in both unemployment and inflation rates. This shows how vulnerable lower-middle-income countries could be to lockdowns and economic restrictions. In the near future, the main concern for al
Read more »
Garcelle Beauvais’ son Jax shares despicable messages from ‘RHOBH’ fans“I’m a f–king 14 year old leave me alone please,” the reality star’s son wrote via Instagram, calling one of the messages “too far at this point.”
Read more »
Breast cancer survivor in Orange County shares story in hopes of empowering others'You have every right to fight for your health care, and if you're not feeling okay with what you're getting, find it elsewhere,' Philecia La'Bounty said is the message she wants other young women to know
Read more »
NASA shares 'spectacular' image of the southern lights from international space stationIn the image, a greenish glow arises above the curve of the Earth. The color changes to red as the light goes higher above the horizon. At the right, a section of the International Space Station can be seen.
Read more »
Hodl until mega yacht: Mintable founder shares crypto journeyFrom broke and jobless to founding an NFT marketplace. mintable_app founder Zach Burks shares his Web3 journey that began when Bitcoin was trading at $5.50. (Reporting via ezrareguerra)
Read more »
Tua Shares Top Takeaway From Time With Jalen Hurts at AlabamaBoth won a national championship while with the Crimson Tide in 2017.
Read more »