Can't make discoveries when no group wants to fund gold exploration companies.
Assuming a company has a prospective target, with a reasonable discovery cost of $25/oz. to make a 1moz discovery a company would need to spend $25mil.
the small caps are struggling to even raise $5mil for exploration & the mid tiers and top tier miners can't make discoveries for crap.
there are some major structural problems in the gold sector at the moment.
I find the mid tiers like RMS are far more agile when it comes to doing deals.
There are not many projects/companies left to acquire. Maybe a handful or so, miss the boat and it'll be over another decade till we see any projects up for grabs.
the problem is real.
Ann: STK: Sale of Millrose Project for $61M to Northern Star Res., page-5
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