Gold production was down four percent but operating profit increased 33% at Harmony. The company announced second quarter results on Monday for the period ending Dec. 31, 2010.
Randgold's full-year profit $120.6M, compared with $84.3M last year. Company proposes to increase dividend by 18% to 20 cents per share; predicts attributable production of 750,000-790,000 ozs for 2011.
The surge in gold prices has spawned a modern-day “gold rush” in British Columbia, Alaska and the Yukon. Where gold panners once searched for nuggets in the frigid waters of northern streams, junior exploration companies are drilling, sampling and pushing ahead with development of new mines. One company that appears to be on the move to becoming that next big producer is Spanish Mountain Gold Ltd. (SPA-V).