Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
Ivanhoe Mines has appointed Tony Giardini as its new president, effective immediately. Giardini was most recently the executive vice president and CFO of Toronto-based Kinross Gold, a position which he held since December 2012.
Tony Giardini, new president of Ivanhoe Mines. Image courtesy of Kinross Gold’s Facebook page.
Before joining Kinross, Giardini served as senior vice president and CFO at Capstone Mining. Between 2006 and 2012, he was CFO of the original Ivanhoe Mines (now Turquoise Hill Resources), which was advancing the Oyu Tolgoi copper mine in Mongolia. Prior to that, he spent 10 years at Placer Dome (now Barrick Gold).
“It is a great privilege to once again work alongside Robert and the rest of the Ivanhoe team to lead Ivanhoe into our next chapter of growth,” Giardini commented.
In addition, the company has announced that CEO Lars-Eric Johansson will retire by the end of June.
Johansson has been at the helm of Ivanhoe Mines and its predecessor since May 2007. He led the company through its $300 million initial public offering in 2012, which now has the assets to become a major producer of copper, zinc and nickel.
