RE:RE:Newmont makes $17 Billion bid for NewcrestMaxmoe wrote: jrj90620 wrote: Newcrest is supposed to be Australia's largest precious metals miner.Central banks record purchase of gold last quarter.This is a good place to be.
https://stockhouse.com/news/press-releases/2023/02/05/newmont-confirms-proposal-to-combine-with-newcrest
Back in the day Peter munk and barrick board couldn't stand the thought of not being the biggest gold producer in the world. Now abx is slipping to an also ran. Getting their hat handed to them from one 3rd world dictator after another didn't help abx. Maybe, just maybe, someone on that board will suggest making an acquisition in Canada for a change.
It's a shame newcrest has chosen to sell out rather than continue its growth trajectory. SBB would have been a perfect fit for newcrest in terms of size, grade, and geography. But SBB fits the bill for any company looking to add millions of ounces in the , relatively, safe jurisdiction of Canada. Safer than South America, Central America, Africa, turkey, Saudi Arabia, Pakistan, or any country ending in "Stan". I'm quite comfortable waiting for SBB "first pour" and some cash flow with a sprinkle of exploration updates, but I'm not going to be surprised if there is a bid sooner rather than later.