For Big Gold, 2009 was a good year

GOLD MAJORS SCORECARD

For Big Gold, 2009 was a good year

With wiped faces, is it time for major gold companies to start focusing on shareholders?

Author: Barry Sergeant
Posted:  Monday , 01 Mar 2010

JOHANNESBURG - 

The majority of major gold producers finished 2009 on a high note, generating record levels of operating cash flows, in line with the rise in the dollar gold price which notched up its eighth year of successive increases, rising from around USD 250 an ounce in 2001 to above USD 1,200 an ounce in December 2009. The fourth quarter was especially strong, underpinned as well by copper prices that moved above USD 3.00/lb, compared to the multi year low of USD 1.28/lb seen in December 2008.

For Big Gold, 2009 was a good year