Big surprise early today with Goldcorp buying Gold Eagle.
Goldcorp's flagship deposit is in the
Red Lake area and Gold Eagle's deposit is nearby which allows them to consolidate deposits.
This means greater efficiency and greater cost control over the long-term for Goldcorp.
But with Aurelian snapped up and now Gold Eagle it will be interesting to see how companies like Yamana, Barrick, Agnico-Eagle, and Newmont respond.
Bigger picture, this is very bullish for the price of gold as companies realize that by buying now they will get in BEFORE the next leg up which will send valuations sky high.
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