Endless cash – columns

Despite or more precisely because of the corona pandemic, three companies have reported the high cash volume of over five billion CAD.

The immense amount of cash has reached three companies, namely Shopify, Air Canada and Barrick Gold. This has never been seen in the S & P / TSX Composite Index. This index is a price index that includes the 220 largest public companies on the Toronto Stock Exchange. The index level is only determined on the basis of the share prices.

The ecommerce company Shopify has seen a huge surge in revenue. Because Corona led to the introduction of online sales software and other services to the large revenues. It also sold shares worth $ 1.3 billion earlier this year. At the end of the third quarter, around eight billion CAD were in the till.

Air Canada was hit by the pandemic just like other airlines, but with new equity, new debt and expanded freight services, the company is doing well.

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 had cash flow of $ 1.3 billion. The dividend was increased. At the end of the third quarter, Barrick had cash of approximately $ 4.7 billion, or CAD 6.1 billion.

Gold companies are benefiting from the rise in gold prices this year and are seeing increased investor interest. Promising gold companies include Skeena Resources and Condor Gold.

Skeena Resources – – In the Golden Triangle in British Columbia, revives the formerly producing gold-silver mines Eskay Creek and Snip.

Condor gold – – has just begun a diamond drilling program on its La India gold project in Nicaragua. The project, wholly owned by Condor Gold, covers 98 percent of the historic La India gold mining district.

Current company information and press releases from Skeena Resources (- -).

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