Galiano Gold Inc T.GAU

Takeover target?

[shrubcrawler]

Found this (Cannacord morning coffee) on another board:

Avion Gold* (AVR : TSX : $1.72), Net Change: -0.03, % Change: -1.71%, Volume: 823,864

Keegan Resources* (KGN : TSX : $7.40), Net Change: 0.00, % Change: 0.00%, Volume: 343,620

Gryphon Gold* (GGN : TSX :
.24), Net Change: 0.03, % Change: 11.90%, Volume: 80,500

Orezone Gold* (ORE : TSX : $3.95), Net Change: -0.14, % Change: -3.42%, Volume: 114,590

Teranga Gold* (TGZ : TSX : $2.75), Net Change: -0.03, % Change: -1.08%, Volume: 175,358

Volta Resources* (VTR : TSX : $2.29), Net Change: -0.02, % Change: -0.87%, Volume: 81,992

Moving up the food chain – when the hunter becomes the target. Just days after African Barrick told the market that it was on

hunt for potential acquisitions, news surfaced that a Tanzanian miner was a potential target and that AngloGold Ashanti (AU)

could be interested in bidding. FT Alphaville, the Financial Times’ daily blog, reported RAW market chatter than two bidders

were in talks with Barrick (ABX) about its 75% holding in African Barrick. One of the bidders is believed to AngloGold

Ashanti while the other remains unknown. Shares in African Barrick Gold topped Britain's blue chip FTSE leader board,

advancing 3.7% on the back of speculation talk. This comes a couple days after African Barrick reported its quarterly results.

Earnings, however, were overlooked as investors’ focus shifted to the company’s aggressive growth plans. Management

confirmed that it was "actively looking" for acquisitions across the continent, preferring a number of countries in West Africa.

This region is no stranger to M&A activity. Last August, Kinross (K) announced a $7.1-billion deal to acquire Red Back

Mining, whose primary assets are in West Africa (Mauritania and Ghana). Kinross’ offer was seen as a potential catalyst to start

a new wave of M&A in Ghana, Mali, Burkina Faso, Cote D’Ivoire, and Senegal. Further with the price of gold continuing to

strengthen, gold miners are enjoying significant margins from their current operations. Robust cash flows are being reflected in

growing balance sheets. Many companies are generating a lot of cash without a development pipeline in place to reinvest excess

cashflow. In this context, we expect to see an increase in the cash portionof bids for junior mining companies as the larger-cap

producers look to pad their development pipelines. To sum up: M&A looks like it’s going to heat up in West Africa this year.

Likely targets include: Orezone, Keegan, Avion, Volta, Gryphon, and Teranga.