Dearth of Mid-Cap Gold Companies Could Force Diversification
Source: Mineweb.com (3/6/07)
National Bank Financial Managing Director and Mining Group head Gordon J. Bogden said Monday that a dearth of mid-cap gold companies, combined with “a shortage of decent projects” could force the diversification of pure gold companies.
In a presentation to the Prospectors and Developers Association Conference in Toronto, Bogden declared that the mining industry “shot itself in the foot” by not spending enough money for exploration, resulting in a shortage of decent projects available to gold companies.
To compound the situation, Bogden suggested that global exploration spending may not have increased quickly enough to meet today’s needs.