An Insider's Guide to the Mining Sector

How to Make Money from Gold and Mining Shares

Michael Coulson (Autor)

Buch | Softcover

244 Seiten

2004
Harriman House Publishing (Verlag)
978-1-897597-38-5 (ISBN)

Infos

The prospect of instant riches gives the mining sector an obvious glamour. And when the mining sector begins to run it can be an awesome sight and the excitement generated can be every bit as seductive and heady as that which enveloped markets during the internet boom. But due to the counter-cyclical nature of many mining stocks, they can also offer a valuable refuge when stock markets turn down. In this book, Michael Coulson gives a masterly overview of the sector, explains both the rewards and the pitfalls of investing in mining shares and argues convincingly that mining should once again form a core sector for all investors. The book is for anyone interested in mining, and particularly mining as an investment. Whilst it contains material which will be useful to even experienced followers of the sector, its main target is those who are interested in mining but perhaps not particularly familiar with the sector, and would like to know more. All the subjects are covered that are fundamental to acquiring sufficient knowledge about the mining sector to invest in it with confidence.
While the mining sector's global focus is both educational and rewarding, on a more basic level the sector has been (indeed still is) enormous fun to follow and invest in. This book reflects that and also provides some thoughts as to how this fun can be turned to profit.

Autor

Michael Coulson has been associated with the mining sector for over thirty years. He first worked as a graduate trainee on the legendary mining desk at James Capel in 1970, for many years the leading mining stockbroker in the City. After that he became a mining salesman at Sterling & Co and also developed the firm's research coverage of the sector. In 1973 he joined Fielding Newson-Smith (later to become NatWest Markets) as a gold mining analyst where he began a long association with the South African gold mining industry. Two years later he became senior mining analyst at L Messel (latterly Lehman Bros) where he started to produce an annual gold review which he published every year until 1991. In 1979 he moved to Panmure Gordon and in 1982 he left and joined Phillips & Drew (UBS) with the task of establishing the firm in the mining market. After a successful four years there, where two years running he was voted No 2 gold analyst in the Extel Analysts Survey, he moved to Kitcat & Aitken where he set up a highly regarded integrated mining desk. In 1990 the firm's Canadian owners closed the firm and he was briefly with County NatWest. The following year he set up a small mining team at Durlacher, but in 1992 was back in the mainstream at Credit Lyonnais Laing where he was a salesman/analyst on the firm's specialist mining team and established an expertise in African shares. He was then approached by South African bank, Nedcor, to join a start-up broking operation the bank was establishing in London. This operation was closed in 1997 and the following year he joined Paribas to head its Global Mining Team. He left Paribas in 2000 following the completion of the merger with BNP. Since then he has been doing independent research, mainly on a commissioned basis, primarily for small UK brokers lacking mining expertise. He is currently Chairman of the Association of Mining Analysts and is a non executive director of City Natural Resources High Yield Trust.

Inhalt

Preface What the book covers Who the book is for How the book is structured Supporting web site Introduction 1. INDUSTRY BACKGROUND Mining countries The world of metals major industrial metals precious metals/minerals minor industrial metals other minor metals Non-Metals energy minerals industrial minerals Gold a brief history of gold the role of the Central Banks investing in gold what drives gold? buying gold shares gold shares in the stock market cycle what and when to buy pitfalls and pointers in gold. 2. MINING MARKETS London Johannesburg Sydney Toronto New York Other markets 3. MINING SHARES Mining finance houses - BHP Billiton - Rio Tinto - Anglo American Medium sized miners Case study: Avmin The smaller mining companies Managed investment vehicles Stock market cycles Madness in mining markets: - Bre-X - The Australian nickel boom - Poseidon - Tasminex - Endurance Mining - Leopold Minerals - Mineral Securities Mining Projects that Refuse to Die. 4. DEALING, INFORMATION AND VALUATION Dealing and settlement Valuation Sector P/E ratios Discoounted cash flow Internal rate of return Net assets per share Metal value per share Return on capital employed (ROCE) Enterprise value (EV) - Economic value added (EVA) 5. INFORMATION SOURCES Press and specialist press, Companies Internet Brokers 6. CONCLUSION 7. APPENDICES Glossary Biobliography Index

Produkt-Details

• Erscheint lt. Verlag: 16.4.2004
• Verlagsort: Petersfield
• Sprache: englisch
• Themenwelt: Wirtschaft ► Betriebswirtschaft / Management ► Finanzierung
• ISBN-10: 1-897597-38-X / 189759738X
• ISBN-13: 978-1-897597-38-5 / 9781897597385
• Zustand: Neuware