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Gold/Mining/Energy : Gold and Silver Mining Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Claude Cormier who wrote (164)	3/9/2000 12:22:00 PM
From: Ptaskmaster	Read Replies (1) \| Respond to of 4051

Consolidation in the Australian gold mining industry.- "Australian analysts and investors have long called for a rationalisation of the local gold sector, characterised by dozens of small players. The hope has been that a wave of mergers and takeovers would see the creation of at least a handful of sizeable producers worthy of capturing the attention of investors. In fact, it is remarkable that a country that produces more than 300 tonnes of gold annually has only one world-scale player in Normandy Mining. "But even Normandy struggles to make it on to the radar screens of investors in the way that Anglogold and Barrick and other of world producers do. It is against the backdrop of "get bigger or wither' that the Sydney-based Delta Gold, headed up by its ebullient CEO Terry Burgess, has been casting around in the last couple of years for an acquisition or merger opportunity. "Burgess thought he had found the right deal last year with Delta's cheeky bid for the larger Acacia Resources. But the Melbourne-based Acacia had other ideas and eventually had itself taken over by Anglogold. Burgess pushed on, knowing full well that Delta itself was a prime takeover candidate, if not by Anglogold then by Placer Dome or Normandy. He finally delivered his catch last week, the Brisbane-based Ross Mining NL." From "Delta Gold gets its catch - but it stinks!" by Barry FitzGerald, full story in Miningweb on Moneyweb at mny.co.za