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.
Canada’s Allana Potash Corp said drilling results showed that the potential of its Dallol project in Ethiopia could be extended beyond the original resource estimate, helping its shares pare some of their losses.
Shares of the potash explorer, which were down as much as six percent midday before the news, recovered to trade down two percent at C$1.70 on the Toronto Venture Exchange. More than 2.5 million shares were traded by late afternoon.
