View Resources warns on gold output

Investors thinking of buying gold might like to know that another gold mining firm has warned of significantly lower yellow metal output.

Australia-based View Resources has issued a statement today (February 6th) that indicates gold production at its key Bronzewing mine was about 6,500 ounces in January - down from an expected total of 10,000 ounces.

It said that its first-quarter expectations of 30,000 ounces of mined gold are unlikely to be met as a result of the lower January output.

The announcement is the latest in a series of statements from mining firms around the world warning of lower than anticipated gold production.

With GFMS stating that global gold mining production fell by one per cent last year, and fewer gold deposits being found internationally, pressures on yellow metal supply could help to sustain high gold prices for some time.

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