You are here
As Newcrest scoops up Pretium, gold sector turns focus to next deal
By Niall McGee
The Globe and Mail, Toronto
Sunday, November 14, 2021
With Australia’s Newcrest Mining Ltd. set to acquire Canada’s Pretium Resources Ltd., attention is now turning to which gold miner will be next to get scooped up, even as money managers caution that acquirers are likely to tread warily.
The Canadian gold industry is highly fragmented, with many companies chasing a limited pool of capital. Money managers have been pushing single-asset miners -- companies that have only one mine or development project -- to seek acquirers that are better capitalized than themselves.
Inside major producers with large portfolios of mines, single-asset miners are seen as far less risky for investors.
... Dispatch continues below ...
... ADVERTISEMENT ...
Awakening a Sleeping Giant in Ghana: Asante Gold Acquires Past-Producing Bibiani Mine
From Golden Opportunities / Gold Newsletter
Metairie, Louisiana
Tuesday, August 17, 2021
Asante Gold (ASE.CN; ASGOF.OTC) has just acquired a past-producing gold mine in Ghana that boasts near-term production potential and huge upside.
With the move, Executive Director Malik Easah is seeking to repeat his success with Cardinal Resources, another gold company with a Ghana project that he recently sold for A$600 million.
It’s a deal that came like a bolt from the blue.
Just a few weeks ago Asante Gold catapulted itself from a relatively sleepy gold story into a major development-stage company set to breathe new life into Ghana's huge, past-producing Bibiani mine. ...
... For the remainder of the report:
https://goldnewsletter.com/go081721/
Melbourne-based Newcrest's pending $3.5-billion acquisition of Vancouver-based Pretium, a single-asset miner, is being pitched as exactly the kind of deal the industry has wished for. Pretium's Brucejack gold project, its only property, has been a beast to mine, with the company on occasion encountering large swings in grade because of erratic geology. Newcrest, by comparison, is a well-diversified company with mines in Australia, Canada, and Papua New Guinea. With a market value of US$15.4-billion, it is much better positioned to roll with the punches at Brucejack.
While the field of single-asset merger-and-acquisition candidates in Canada has shrunk considerably over the past few years with the purchases of Detour Lake Gold Corp., TMAC Resources Inc., and Battle North Gold Corp., there are still a handful of companies that stand out as potential takeover targets. ...
... For the remainder of the report:
https://www.theglobeandmail.com/business/article-what-gold-company-will-be-acquired-next/
* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
