RE:RE:RE:RE:Can you say just how many onces of gold underground
I differ a bit as majors are now floating in cash and all are needing resources with few meaningful opportunities available. AEM for example will generate free cash flow for the 3rd QTR of about $800 million or more. That is mind boggling! And gold keeps climbing meaning about $3 billion in free cash flow for 2024 year! Crazy numbers.
Sprott and Palisades will most likely want an all share offer for tax reasons and also liquidity reasons. AEM share price is in the $120 range now, so a $3 billion acquisition will only cost them dilution of 25 million shares or 5%! Same holds true for the other large majors. On top of that the few attractive juniors all suffer from undervaluation! Majors have started to get aggressive, and a trend in motion tends to stay in motion, and in fact will accelerate in coming months. They have to put those huge cash balances to work, and the number one priority will be reserve accumulation after years of lack of major discoveries.