Consolidation among smaller gold miners is expected to be top of mind as much of...
TORONTO - Consolidation among smaller gold miners is expected to be top of mind as much of the industry meets in Toronto this week, with dealmakers cautiously optimistic a fresh wave of buyouts is imminent once major pending transactions are settled.
These deals, their expected outcomes and the impact on the broader gold mining industry are expected to dominate the conversation at the annual conference of the Prospectors and Developers Association of Canada, when tens of thousands of participants from around the world - from executives to investors to regulators - descend on Toronto.
Deals hashed out before Barrick’s surprise offer for Newmont are still likely to go ahead, Hoffmann added. Australian miners are likely to be potential buyers, as companies such as Northern Star Resources and Evolution Mining have benefited from disciplined management and “have all made oodles of free cash flow in the past few years,” said Maria Smirnova, senior portfolio manager at Sprott Asset Management, which invests exclusively in miners.Northern Star and Evolution Mining could not be immediately reached for comment outside business hours.
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