Cash without end
Despite or more precisely because of the Corona pandemic, three companies have reported high cash volumes of over five billion CAD
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The immense amount of cash has reached three companies, namely Shopify, Air Canada and Barrick Gold. This has never been seen before in the S & P/TSX Composite Index. This index is a price index that includes the 220 largest corporations on the Toronto Stock Exchange. The index level is determined solely on the basis of share prices.
The e-commerce company Shopify has seen a tremendous increase in revenue. That's because Corona's introduction of online sales software and other services led to the large revenues. Earlier this year, the company also sold $1.3 billion worth of shares. At the end of the third quarter, the company had around eight billion CAD in the till.
Air Canada was affected by the pandemic in the same way as other airlines, but with new equity, new debt and expanded cargo services, the company is well positioned.
Barrick Gold is the second largest gold producer in the world and has achieved the huge cash position due to the strong gold price. In the third quarter of 2020, Barrick generated cash flow of $1.3 billion. The dividend was increased. At the end of the third quarter, Barrick had approximately $4.7 billion or CAD 6.1 billion in cash.
Gold companies are profiting this year from the rise in the price of gold and are seeing increased investor interest. Among the promising gold companies are Skeena Resources or Condor Gold.
Skeena Resources - https://www.youtube.com/watch?v=-Oc9PdaeFaU&t=11s - is revitalizing the formerly producing Eskay Creek and Snip gold-silver mines in British Columbia's Golden Triangle.
Condor Gold - https://www.youtube.com/watch?v=DpLuZLcx4Oc&t=593s - has just commenced a diamond drill program on its La India Gold Project in Nicaragua. The project, which is 100 percent owned by Condor Gold, covers 98 percent of the historic La India Gold District.
Latest corporate information and press releases from Skeena Resources (
www.resource-capital.ch/en/companies/skeena-resources-ltd/).
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