Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Canadian Gran Colombia Gold Corp. (TSX:GCM), the largest underground gold and silver producer in the South American country, announced that senior managers and members of the board of directors have purchased a combined 380,000 common shares of the company.
CEO Maria Consuelo Araujo and Executive Co-Chairmen, Serafino Iacono and Miguel de la Campa bought 120,000, 130,000 and 130,000 shares respectively, paying an average price per share of $0.321, $0.310 and $0.310. The shares were purchased between August 23 and August 27, 2012 on the open market.
The Toronto-based miner has several underground mines in operation at its Segovia and Marmato sites in Colombia. In addition, it is advancing a project to develop a large-scale, gold and silver mine at its Marmato operations.
