Some time back Stoeger pointed out that activity amongst the gold miners was dead; there were no mergers nor capital raisings and he was right at the time. But there are now several good signs that we have seen the bottom and times are changing in the gold sector.
There have been a series of purchases of old gold mines: Metaliko is taking over the old Bronzewing mine, Monument Mining has purchased Kentor Gold's Murchison project, Saracen is buying the Thunderbox gold mine and Gutnick has bought back the Wiluna gold mine.
On the takeover front Centamin has made a takeover bid for Ampella Mining which has a promising gold mining project in Burkina Faso.
Boart has held up well after rising from its low of 25.5c and I am feeling good that the next move will be upwards.
GPASAS
BLY Price at posting:
46.2¢ Sentiment: Hold Disclosure: Held
