When the price of gold is sky-high, you’d think a gold-mining company’s shares would also be on the rise.
Before Kinross put its Russian operations on hold, some investors, including Purpose Investments, had already bailed on Kinross, both for ethical and business reasons. While B2Gold doesn’t have any operations in Russia, whose economy has been crippled by sanctions in the wake of its invasion of Ukraine, the Vancouver-based company does have a significant operation in Mali, another country hit by sanctions.
But even if they hadn’t been lifted, limited regional sanctions are hardly equivalent to the worldwide condemnation and economic shunning aimed at Russia for the invasion of its neighbour.
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