News

Folks are wondering if Ramelius’ (RMS) switch to Pac-Man mode this week signals the start of a wave of merger and acquisition activity in the junior gold space.

Folks are wondering if Ramelius’ (RMS) switch to Pac-Man mode this week signals the start of a wave of merger and acquisition activity in the junior gold space. In the space of a couple of days, the $240 million Ramelius has launched a hostile $54 million scrip bid for Explaurum (EXU) and has secured an agreement to acquire the Marda gold project from its owner’s liquidator for $13m.

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Given a choice between fear and greed, cautious investors always opt for fear because they never know if there’s bad news on the way.

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This week’s $59 million hostile takeover bid by Ramelius Resources for fellow WA gold group Explaurum has set tongues wagging about the potential valuations of other emerging producers.

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The approach by Ramelius Resources this week to buy smaller explorer Explaurum marks the first hostile takeover bid among Australian gold miners for many years, and some now wonder whether it will kick off what would be a highly anticipated round of consolidation in the industry (reports The Australian).

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14th September 2018

Millennium Minerals' Nullagine gold operation has reached its targeted 100,000 ounces per annum run-rate a quarter ahead of schedule (reports MiningNews).

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Gold could find support as finance fears resurface and short-covering ensues, according to Thomson Reuters GFMS (reports MiningNews).

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The big miners may be the new superstars of the dividend scene, but this has failed to translate through to any big appetite for their shares over recent months (reports The Australian Financial Review).

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The sell-off in local gold equities in the last two months

The sell-off in local gold equities in the last two months – with the exception of Northern Star which has pogoed higher – has been remarkable stuff. Market leader Newcrest is down 14%, which is bad enough in itself. Then there is the 22% hit on Evolution, St Barbara’s 24% slide, and Regis’ 20% fall. It is remarkable stuff because while the US dollar gold price is off by about $US60 or 5%  to just under $US1,200/oz, the Aussie price at more than $A1,660/oz is “only” off by $A20, or 1.2%, due to the slide in the US exchange rate.

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