Goldcorp and Penmont (partly owned by Newmont) are locked up in a furious bidding war for advanced explorer, Canplats, in Mexico even during this festive seasons. Both have counter offered. Is this a reflection of things to come for advanced explorers? The big gold miners are depleting their mines faster than they can replenish and they are fighting intensely over junior miners that are not far from production. Maybe Goldcorp will go back to the drawing board to have another look at San Anton where they have an existing shareholding.
KMN Price at posting:
18.7¢ Sentiment: Buy Disclosure: Held
