Streetbeat News

KRRGF

Karora Resources Inc

http://www.rncminerals.com/

CEO

Mark Selby

Industry

Gold Ore Mining

Open

5.00

Mkt cap

863M

Volume

32K

High

5.05

P/E Ratio

80.50

52-wk high

5.10

Low

4.77

Div yield

N/A

52-wk low

2.62

Gold prices are nearing an all-time high, driven by central bank buying and anticipation of U.S. Federal Reserve policy meeting minutes and inflation data. Spot gold rose to $2,343.76 per ounce, close to the record high of $2,353.79. U.S. gold futures also saw a 0.5% increase. The surge in gold prices reflects concerns over potential Federal Reserve rate cuts and their implications on cryptocurrencies and precious metals. Additionally, the $1.45 billion merger between Karora Resources and Westgold Resources, aiming to boost gold production to 400,000 ounces annually, highlights the bullish trend in the gold market.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 6:03 am

Karora Resources (OTCQX:KRRGF) and Westgold Resources (OTCQX:WGXRF) announced a merger valued at $1.45 billion, aiming to create a mid-tier gold producer with an annual production of 400,000 ounces of gold. The merger is expected to unlock $320 million in synergies and establish the combined entity, Enlarged Westgold, as the sixth-largest Australian-based gold miner. The deal gives Westgold a 50.1% majority stake, with Karora shareholders receiving a 10.1% premium. The merged entity will focus on cost synergies, international visibility, and has a significant exploration portfolio.

Portfolio Pulse from Stjepan Kalinic

April 08, 2024 | 2:29 pm

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