KINROSS GOLD CORP to buy BEMA?
Print This Post
| Topic: Gold Mining Companies — November 6th, 2006
According to Reuters - Kinross Gold Corp. will make a takeover bid for fellow Canadian miner, Bema Gold Corp. trading halted on Monday morning.
This is a rather interesting move, which should be good for Bema’s stock price. We will need to see the details of the bid before we can comment further.
Kinross Gold Corp trades on TSX as K and on the NYSE as KGC.
Bema Gold Corporation trades as BGO.
06 November 2006
|
|
Related Articles
Bema Gold Mining Corp
Bema Gold Corp. (BGO)
Kinross Gold Corp: Add to Holdings
Kinross Gold Up Over 10% Since We Signalled Add to Holdings
Kinross Gold: Q2 Production Up 14%
![[Most Recent Quotes from www.kitco.com]](http://kitconet.com/images/quotes_4b2.gif)
![[Most Recent Quotes from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_2.gif)
If this bid is to be accepted by BGO, that would make KGC the biggest among the medium-sized gold producing mining companies. I must admit that I prefer preys rather than predators in this indsutry, for obvious reasons. The premiums that are being paid are already quite substantial and as the metals boom gains momentum, the acquisition premiums will grow along.
Comment by Joey — November 7, 2006 @ 10:09 am
Agreed.
For us this takeover will make Kinross a bigger part of our portfolio than we are comfortable with. So now we need to look for the next ‘Bema’ - your call on Yamana was bang on so if you have any suggestions or thoughts on the next ‘prey’ we would be delighted to hear them.
Comment by Bob — November 7, 2006 @ 11:35 am
There are simply too many!! I think if you diversify in your portfolio and buy the smaller mining companies, you’re pretty likely to have a couple that will be taken over. I’ve just seen my EZM shares increase as the result of a merger with Lundin (now AMX:LUN).
I think the logical step for gold mining companies is to diversify and buy themselves some copper, zinc or lead producers. I like CUP in that respect. Southern Copper might also try to take over CUP.
As for others: GRZ, KRY, AZK, NSU, NXG, TGB, name them. There’s too many that are likely to be acquisition targets. That’s the beauty of this industry which awaits an enormous consolidation!
Comment by Joey — November 8, 2006 @ 9:01 am