Daily Archives: 12/02/2019

Serbia, Slovakia Join Sudden Eastern European Gold Repatriation Push

The gold rush continues…

Just a few short days after Poland’s government touted its economic might after completing the repatriation of 100 tons of the barbarous relic; and with Hungary’s anti-immigrant Prime Minister Viktor Orban also ramping up holdings of the safe-haven asset to boost the security of his reserves, more Eastern European nationalist leaders are demanding their country’s gold back on home soil.

As Bloomberg reports, former Slovak Premier Robert Fico, whose odds of returning to power are rising quickly, urged parliament to compel the central bank into repatriating the nation’s gold stocks, which are currently stored in the U.K..

Zijin Mining to buy Canada’s Continental Gold in $1 billion deal

Zijin Mining, China’s No.1 gold producer, is buying Canadian miner Continental Gold (TSX: CNL) for almost C$1.4 billion ($1bn), in a move aimed at increasing the company’s bullion reserves and boosting cash flow as well as profit.

The mining giant is offering C$5.50 a share in cash, a
premium to Friday’s close price of C$4.87. The friendly deal will give it
access to Continental’s main asset — the Buriticá gold project in Colombia — which
is expected to begin production next year.