Mining Review 15th September 2024

Gold reached a new intraday all-time high as anticipation of a US rate cut boiled over.

American Creek was acquired by Cunningham Mining, as the takeover season hots up, with Centamin Egypt also being bought out, and Newmont sold out their interest in Haveiron to Greatland Gold.

 

 

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City Investors Circle Mining Review 15th September 2024

 

 

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Gold reached a new intraday all-time high as anticipation of a US rate cut boiled over, and heightened political tensions over the west arming Ukraine with long range weapons to strike deep inside Russia.

Silver also responded and other industrial metals turned positive after Russia threatened to cease the export of certain strategic metals to “unfriendly countries”.

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American Creek was acquired by Cunningham Mining, as the takeover season hots up. This is a strange transaction as Cunningham is funding the takeover with a token issue, as opposed to raising capital via a share issue or simply paying cash.

The takeover price is 43 cents, considerably higher than the share price on the day of the offer, over 100% in fact. The current share price of 27 cents is puzzling, and suggests that the market doubts that Cunningham can pull off the deal in my opinion.

I wonder if there’s an opportunity here?

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Centamin Egypt , listed in London, is also being bought out, by Anglogold Ashanti, and Newmont sold out their interest in Haveiron to Greatland Gold. 

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Looking at the news from other companies on our watchlists, G Mining Ventures and Calibre Mining continue to churn out good news with regularity. Westgold also reported further good news during the week.

To read the news in full for last week, please click on the links below to be taken to the full story.ive