'Huge' Opportunities for Consolidation Among Juniors
Source: Mining Weekly, Liezel Hill (6/12/09)
"It's basically an arbitrage between those of us who can raise money and those of us who cannot."
"If this market doesn't turn around dramatically, 80% of the juniors are going to hit the wall; they are going to be insolvent," he said in a presentation in Toronto on Thursday.
And Williams has not wasted time in moving to take advantage of the difficulties in which Victoria's rivals find themselves.
In the space of 10 months, the company snapped up two cash-strapped juniors—Gateway Gold and, most recently, StrataGold—adding projects in Canada's Yukon territory, Nevada and Guyana and 4.4-million gold ounces in the ground.
"And there will be more," Williams added.
"It's basically an arbitrage between those of us who can raise money and those of us who cannot. And so the opportunities for consolidation are huge."