Aug. 21, 2013, 8:21 AM
- Takeovers and asset purchases by producers based in China and Hong Kong rose to a record $2.24B this year amid the steep decline in gold prices and mine values, according to data compiled by Bloomberg.
- The busy Chinese activity comes as shareholders in Western-based miners warn executives to chill their M&A activity. Chinese miners - often with lower production costs - are less constrained and have continually perky domestic consumption to satisfy.
- Next possible targets are Papillon Resources (PAPQF.OB), Iamgold (IAG), Amara Mining, and Perseus Mining (PMNXF.PK), according to Aussie gold analyst David Brennan. China's largest producer Zijin Mining has previously said it has its eye on three Australian mines Barrick (ABX) has for sale.
- China's appetite for gold is virtually insatiable, says Jon Price of Phoenix Gold (PGLD.PK). "They have a large bank account with which to work, and a lot of U.S. dollars that they perhaps would rather see turned into physical assets."
- Gold mining ETFs: GDX, GDXJ, GLDX, PSAU, NUGT, DUST, GGGG, RING.
Dec. 10, 2012, 11:32 AMThe election of incumbent John Dramani Mahama as president of Ghana brings renewed concern about a windfall tax on miners operating there. Golden Star Resources (GSS -2.2%) and Perseus Mining (PMNXF.PK) are two producers will full exposure to Ghana; NEM, KGC, GFI, AU, KGN, PPMIQ.PK and AZUMF.PK also have some exposure. | Dec. 10, 2012, 11:32 AM | Comment!
Perseus Mining Limited has forged a reputation as one of the world's most successful gold explorers. Focused on under-explored gold belts in West Africa, we achieved our goal to become a producer during 2011 and started commercial production on 1 January 2012.
Other News & PR