With exploration budgets having ground to a halt due to the GFC and project finance being as difficult to get as it is i think it will be increasingly likely that there will be a major round of consolidation in the gold sector over the next couple of years
A rising POG and Shallow/ highgrade resources getting scarcer and scarcer i think companies like EXM will be ripe for the picking
The gold majors have always prefered to build their reserves by aqcuisition rather than green/brownfields exploration. leave that to the explorers then when the hard work is done it is time to bring out the cheque book.
Does anyone else see this as a possible scenario ?
an interesting snipet from the fin review, page-6
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