Suggests at least 2 are serious buyers on Cadillac trend.
Post says Integra Gold shows how to attract big money
2017-07-06 09:20 ET - In the News
Also In the News (C-ELD) Eldorado Gold Corp
The Financial Post reports in its Thursday edition that gold miners have invested around $290-million in exploration companies during the first six months of the year, the highest level recorded in the past decade and double the value invested in the previous two years combined, according to CIBC World Markets. The Post's Sunny Freeman quotes CIBC as saying: "Nearly one-half of equity raised by junior gold stocks on the TSX in 2017 has been through direct investments. No previous year has exceeded 20 per cent." The dramatic increase in investment from senior gold producers comes as they search for new sources of growth to head off a potential production decline after sitting on the sidelines during one of the most brutal commodity cycles in history. Increased competition among the seniors squeezed by declining production benefits juniors by driving up their valuations, said Stephen de Jong, chief executive officer at explorer Integra Gold, which was among the first juniors to draw attention from major players. Integra shareholders approved a $590-million cash-and-stock acquisition by Eldorado Gold on Wednesday in a deal expected to close next week. Integra received two other offers before settling on Eldorado.
© 2017 Canjex Publishing Ltd. All rights reserved.