RE: Ford on Gold4 Aug 2020 20:00
''Australian boom set the stage
And it’s actually in Evolution’s home stomping ground of Australia that the action initially got underway. Because although the gold price may be hitting record levels in US dollar terms right now, in Aussie dollar terms, it’s been doing so for some time. And that in turn has led to an ebullience in the Australian gold scene that the rest of the world is only just beginning to catch up to.
In part, this has been helped along by the recent successes of Kirkland Lake Gold (TSE:KL)(ASX:KLA) at the Fosterville mine in Victoria. But it’s also been buoyed by exploration successes scored by the likes of Greatland Gold (LON:GGP) and Newcrest (ASX:NCM) in the Paterson region and elsewhere in Western Australia. Activity in both states is humming along, and the corporate manoeuvring has been underway for some time.
One of the more recent examples is Shandong Gold’s battle with Nordgold for control of Cardinal Resources (ASX:CDV), with Shandong at this stage currently holding the upper hand. But watch this space – both for more on the fate of Cardinal, which has now recommended shareholders accept the Shandong offer, and for new signs of corporate activity bubbling up.''