With the gold price breaking records and the dollar sinking into the abyss, the major gold miners are planning for the future and shoring up their resources through acquisitions. The latest of which is Newmont’s announcement that it would acquire 100% of Miramar in a $1.5 billion all-cash transaction. Miramar’s shareholders were promptly rewarded with a 23% single-day gain. Some analysts are anticipating rival bids, which could push up the value of Miramar to levels even higher than their $6.31 close on October 10th. If you have followed Miramar over the years, you are well aware of Hope Bay, which is considered one of the largest undeveloped gold projects in North America.
Continue reading Newmont Grabs Miramar – Who Is Next Gold Takeover Target?
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I thought this was worth sharing. It is nothing new to goldbugs, but caught my attention when I noticed it was Citigroup making the statement. We are buying gold stocks on dips such as today and have also been doing very well with international ETFs such as ILF (Latin America) and FXI (China). These [...] |
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