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AKG vs. ETF Alternatives
Thursday, Mar 201:26 PM
Thursday, Mar 201:26 PM| 7 Comments
- The rally in large gold miner names (GDX +0.8%) may have gotten ahead of itself as the companies still have plenty of work ahead of them as they move to repair balance sheets and focus on cash flow over growth, writes Liam Denning. The smaller miners (GDXJ +2.7%) have rallied faster this year, but they fell further last year, and their attraction now would be the potential for deals - the larger players are pushing off projects, and thus need another way to replenish resources.
- Not all are good targets, but those with projects closer to completion and for higher grade ores are most attractive, says CIBC's Jeff Kileen, highlighting Continental Gold (CGOOF +0.5%), Premier Gold Mines (PIRGF +1.1%), and Pretium Resources (PVG -0.8%).
- Other smaller players with attractive projects starting up this decade include Asanko Gold (AKG), Golden Queen Mining (GQMNF +0.6%), and Orezone Gold (ORZCF -0.2%).
- ETFs: GDX, GDXJ, NUGT, DUST, GLDX, JNUG, RING, GGGG, JDST, PSAU
Monday, Dec 232013, 12:46 PM
Tuesday, Dec 172013, 8:27 AM
Tuesday, Dec 172013, 8:27 AM| Comment!
- Asanko Gold (AKG) agrees to acquire PMI Gold (PMVGF) in an all-stock transaction valued at ~C$183M, to create an emerging mid-tier gold producer with a pathway to 400K oz. of annual gold production.
- A highlight of the deal will be the combination of the neighboring Esaase and Obotan gold projects in Ghana, with a combined resource base of 7.5M oz. measured and indicated resources and an additional 2.9M oz. inferred resources, of which 4.8M oz. are proven and probable mineral reserves.
- A merger attempt last year by the two Ghana miners was dropped when it appeared the deal wouldn't get enough support from PMI shareholders.
Friday, Sep 202013, 5:37 PM
Friday, Mar 152013, 5:31 PM
Tuesday, Feb 192013, 9:29 AMKeegan Resources (KGN) and PMI Gold (PMVGF.PK) agree to terminate their merger plans, saying it was unlikely PMI’s shareholders would approve transactions related to the arrangement. The companies say the termination was not caused by "any differences between the respective boards about valuation issues or on account of any new facts having come to their attention." |Tuesday, Feb 192013, 9:29 AM| Comment!
Monday, Dec 102012, 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. |Monday, Dec 102012, 11:32 AM| Comment!
Wednesday, Dec 52012, 9:39 AMKeegan Resources (KGN -2.5%) and PMI Gold (PMVGF.PK) agree to merge, forming a new West African gold development company that will operate as Asanko Gold. The new entity expects a boost in near-term production from a unitized project comprised of nearby Obotan and Esaase gold deposits. |Wednesday, Dec 52012, 9:39 AM| Comment!
Wednesday, Nov 282012, 9:37 AMKeegan Resources (KGN -2.8%) reaches an out-of-court settlement of the Esaase gold concession lawsuit which had alleged irregularities in the execution of a 2007 agreement by which KGN obtained title to the concessions. KGN says financial details are confidential, but the settlement amount wasn’t material to the company. |Wednesday, Nov 282012, 9:37 AM| Comment!
Wednesday, Oct 102012, 2:05 PMKeegan Resources (KGN +14.7%) reports results of a revised mineral resource estimate for its Esaase gold project in Ghana: measured and indicated resources of 68.9M metric tons avg. 1.7 grams/metric ton of gold for 3.8M oz., inferred resource of 22.2M metric tons avg. 1.7 grams/metric ton of for 1.25M oz. |Wednesday, Oct 102012, 2:05 PM| Comment!
Wednesday, Oct 102012, 12:45 PM
Thursday, Sep 62012, 11:11 AM