Frenzy of deals by China's state gold miners may stall on regulatory hurdles from Canada, Australia

Section:

By Jeff Lewis and Melanie Burton
The Globe and Mail, Toronto
Monday, July 6, 2020

Growing scrutiny by mineral-rich Australia and Canada may cut short a deal frenzy led by China's state miners and limit Beijing's role in gold-sector consolidation, bankers and analysts said.

Shandong Gold Mining Co. and Zijin Mining Group Co. Ltd. have driven a wave of acquisitions from the Canadian Arctic to South America to West Africa this year.

... Dispatch continues below ...



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Enduro Metals Reports Drill Intercept Cut
144 metres of 3.18 g/t Gold; Identifies
Additional Gold Targets at Newmont Lake
in British Columbia's Golden Triangle

Company Announcement
Monday, July 6, 2020

KELOWNA, British Columbia Canada -- Enduro Metals Corp. (TSXV: ENDR; OTC: SIOCF; FSE: SOG-FF), formerly Crystal Lake Mining, is pleased to report drill results as part of the ongoing exploration program on the company's 551-square-kilometer Newmont Lake Project in the heart of British Columbia's Golden Triangle.

These results are from previously unsampled drill core by a previous operator whose focus was on narrow high-grade intersects, with the result that only a portion of the core was previously sampled. Infrastructure in the region has greatly improved, including power and road access now within 16 kilometers, leading to a dramatic change in the approach to exploration and potential development at Newmont Lake.

An ongoing comprehensive technical review of the project recently identified three gold mineralization styles associated with the 20-kilometer-long McLymont Fault, one of multiple target areas within the Newmont Lake Project. The study determined that previous operators did not identify all gold mineralization styles, and as a result only 19 percent of the total drill core has been assayed to date. ...

... For the remainder of the announcement:

https://endurometals.com/enduro-metals-reports-drill-intercept-cut-144-m...



Canada and Australia have recently tightened restrictions on investment by state-backed firms, fearing economic dislocation caused by the coronavirus pandemic will make it easier to buy strategic assets. No specific countries have been named under the revised guidelines.

"The concerns are almost entirely with China," said Gordon Houlden, a former Canadian diplomat with extensive Chinese experience who heads the University of Alberta's China Institute. ...

... For the remainder of the report:

https://www.theglobeandmail.com/business/industry-news/energy-and-resour...

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