"Newcrest adds $806.5 million mine as Gold M & A rolls on"- Bloomberg, 10.3.19 via Yahoo.
In essence:
"We have identified a clear pathway to potentially turn this orebody into a TIER 1."
"Imperial Metals last yr began a restructuring process ....to explore options including a sale, re-organisation and a JV venture."
"In the past yr, Newcrest has also held conversations about transactions with Barrick, Goldcorp and NEVSUN Resources before those miners opted for other deals, people familar with the matter said last month."
"The copper and gold miner is facing $325m of bonds due this month and investors have been waiting to see if Fairholme Capital Management, the co*s biggest bondholder and Canadian oil billionaire,Murray Edwards, the biggest shareholder would step in to rescue the co, two people with knowledge of the matter said last month."
"Baswas has set a DEADLINE for the END of 2020 to increase its expose from 4-5 so called tier 1 assets-the industry highest quality mines. The producers is also scanning the market as it seeks to add between 2 and 4 so called tier 2 assets over the course of the next DECADE, Biswas said in a Bloomberg TV interview last month."
Comment:
As I said in my earlier post, 2020 is the date the industry is looking at?
This article from Bloomberg is more detailed.
Looks like M & A has began and continuing after the Barrick and Goldcorp plus Newmont news.
Very interesting.
sol1, Sun 10 Mar 2019.
DGR Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
(20min delay)
