Merger and acquisition activity in the local gold scene is developing a head of steam. And so it should too with both asset and equities values yet to fully reflect the benefits being harvested from the costs out and weaker dollar thematic.
The latest example is not exactly an M&A deal. But the disclosure that gold and base metals producer Independence Group (IGO) had picked up a 3.7 per cent line of shares in Gold Road (GOR) at 38.5c a share certainly has a M&A smell about it.
Gold Road went out of its way to welcome the interest of the cashed up and growth hungry Independence: “The company welcomes such a well credentialed corporate as IGO to its register of members.
GOR Price at posting:
43.5¢ Sentiment: Buy Disclosure: Held
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