“Some of the juniors are stressed and we’re looking at what they have,” he said, adding Randgold would consider any asset which has a resource base of at least three million ounces.
According to a report by Reuters, Liberum analysts have cited Gryphon, which has a development project in Burkina Faso, and Papillon in Mali as likely targets for the company.
Many of Randgold’s existing mines were borne from the group’s own greenfield exploration projects – an exception being Kibali, which it and AngloGold acquired as an exploration project in a C$546m cash-and-share transaction for Moto Goldmines in 2009. The asset has an existing resource base of over 10 million ounces.
GRY Price at posting:
95.0¢ Sentiment: Hold Disclosure: Held