Thanks, Blue
For posting that research. I much enjoyed reading it and congratulate the analysts, Siperco and Lam for a well presented report.
I especially liked pages 13 & 14 which reviewed the possibility of a takeover and the suspects who might ante up. First on the list was my personal fave, SSR Mining, which has an embarrassment of cash building up.
I hadn't considered Centerra nor Kirkland Lake as possible deal-makers, but I can see the logic. Pretium and Barrick are too obvious so probably won't be players.
I entirely agree with the idea that it's time to see some bigger-deal-consolidation in this industry. If medium to large producers don't start merging, and even if they do, it's well past time for some BIG stock buybacks. Look at what happened stateside: US companies have spent decades buying back shares to the point the AVERAGE S&P 500 company is trading at 23 X earnings or thereabouts. Time for resourcee company managements to learn from that example.