AND moving thingsSome of our movement today, and the movement of other juniors with significant finds, is due to the overnight takeover offers of AND.TO by both ElDorado and Goldcorp.
Several of the gold companies I watch are powering higher. Look at VEN.T, GUY.T for example. It's no secret that some of the large caps are flush with cash and looking for ways to spend it.
Honestly, I don't expect any takeover offer for CAN anytime soon. They need a feasibility study at the very least. Larger companies want to know what they're spending their money on, and CAN just can't provide solid estimates at this point in time. We all know that they have something significant - but that significance hasn't yet been defined as per NI 43-101 standards.
We're probably close to a year away from any kind of feasibility. There's just too much drilling yet to be done.
However, we can benefit from this speculation bubble. So far there have been 2 major deals - Kinross/Red Back and Goldcorp/Andean. More will definitely follow - Barrick is probably eyeing someone... but who?