Meanwhile today in Wendell Zerb’s Junior Mining
Weekly they take a look at Kinross Gold for some very
interesting reasons...they have money and tons of it in
the bank. They had about $700 million in cash at the
end of the third quarter according to Gord Chan in Canaccord’s
Morning Coffee, and they just raised another
$360 million in financings. Why are they doing this?
Well, that’s a good question, but the suspicion by many
is that they are about to buy someone out as Kinross is
lousy with cash, but doesn’t have a lot of new projects
for down the road.
On the list of possible take-over targets is Yamana
Gold, which does not have a lot of money, but does have
a fairly decent list of projects to develop down the road.
Also on his list is IAMGOLD and Anglogold Ashanti, under
those that would be called producers.
Amongst the advanced explorers that also could become
potential targets includes Andina Minerals, for its
Volcan project in Chile; Detour Gold, with a potential 10
million ounce deposit being worked on and Exeter Resources,
a story we are going to start following much
more closely because of their Caspiche—a large, gold/
copper project in Maricunga, Chile with potential for 10
million ounces combined.
Kirkland Lake Gold
Yamana Gold
Exeter Resources |
