By James Paton
Reuters
Wednesday March 31, 2004
http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=4717350 [1]
NEW YORK, March 31 -- Gold mining executives rubbed
elbows on Wednesday at an investor conference on Wall
Street, but in coming months some are likely to come
together in a different kind of way.
Iamgold Corp.'s planned merger with rival Wheaton River
Minerals, announced on Tuesday, may be one of a series
of unions this year as smaller mining companies seek to
raise their production and their profile.
"During the lean years, in 2000, for instance, everyone
was talking about survival," Cambior Inc. Chief Financial
Officer Bryan Coates said in an interview, speaking on
the sidelines of the American Stock Exchange
conference.
"Now they're talking about acquisitions."
These days more small gold miners are aiming for "critical
mass," the size needed to attract investors' attention, Coates
said. In 2004, he believes, the gold mining sector can expect
"at least a few more deals."
As the financial picture of gold miners has brightened as gold
prices rise, so has the likelihood of even more consolidation,
executives said. Doubts about the stock market and the
economy and a weaker dollar have pushed investors to gold.
Cambior's earnings nearly tripled in the fourth quarter as the
Quebec-based miner sold more gold and cut costs.
But the top brass at the companies are quick to note there's
a catch: Many gold players have loftier stock prices, boosting
their pricetags in the eyes of potential buyers and raising
concerns about paying too much for a rival.
"A better time to buy would have been a couple of years ago,"
Ken Stowe, Chief Executive of Northgate Exploration, another
Canadian miner, noted in an interview.
Still, at least some of the smaller mining companies, with
bold ambitions of becoming a giant, will try to strike some
kind of deal this year, said Fred George, chairman of
Gammon Lake Resources Inc..
"I think this year is the year that they will take place," he
said in an interview after making a presentation to investors.
"Everyone's striving to be the next Barrick Gold or Placer
Dome."
George said he is betting his company will buy -- or be
bought -- at some point this year, declining to give any
specific plans. Gammon Lake Resources is trying to
become a mid-sized gold producer.
Iamgold and Wheaton River, both of Canada, said their
transaction would create one of the world's 10 biggest
gold producers, with 1 million ounces of gold production
a year and forecast "a period of considerable consolidation."
The chief financial officer of Cambior, which expects to
raise gold production in 2004 by 35 percent to 705,000
ounces, said the company seeks to grow from within, but
certainly would entertain a deal.
"Like all other producers, we're following a number of
situations," he said.
* * *
Seabridge approved for AMEX listing
Company press release
http://biz.yahoo.com/ccn/040331/be544af391295c8f1708fe868b5950cc_1.htm [2]
l
TORONTO, March 31, 2004 -- Seabridge Gold reported
today that it has been advised by the American Stock
Exchange that its application for listing of its common
shares has been approved.
This approval is contingent upon the company being in
compliance with all applicable listing standards on the
date it begins trading on the exchange and may be
rescinded if the company is not in compliance with such
standards.
Following selection of a specialist and other final
arrangements, Seabridge Gold's common shares will
trade on the American Stock Exchange under the
symbol SA.
A date for the commencement of trading has not yet
been set.
Seabridge Gold's common shares will also continue
to trade on the TSX Venture Exchange under its current
symbol, SEA.
----------------------------------------------------
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RECOMMENDED INTERNET SITES
FOR DAILY MONITORING OF GOLD
AND PRECIOUS METALS
NEWS AND ANALYSIS
Free sites:
http://www.cbs.marketwatch.com [6]
http://www.gold-eagle.com/ [8]
http://www.capitalupdates.com/ [12]
http://www.goldenbar.com/ [13]
http://www.silver-investor.com [14]
http://www.thebulliondesk.com/ [15]
http://www.sharelynx.com/ [16]
http://www.mininglife.com/ [17]
http://www.financialsense.com [18]
http://www.goldensextant.com [19]
http://www.goldismoney.info/index.html [20]
http://www.howestreet.com [21]
http://www.depression2.tv [22]
http://www.moneyfiles.org/ [23]
http://www.howestreet.com [21]
http://www.minersmanual.com/minernews.html [24]
http://www.a1-guide-to-gold-investments.com/euro-vs-dollar.html [25]
http://www.goldcolony.com [26]
http://www.miningstocks.com [27]
http://www.mineralstox.com [28]
http://www.SilverSeek.com [30]
http://www.investmentrarities.com [31]
http://www.kuik.com/KH/KH.html [32]
(Korelin Business Report -- audio)
http://www.plata.com.mx/plata/home.htm [33]
(In Spanish)
http://www.plata.com.mx/plata/plata/english.htm [34]
(In English)
Subscription site:
http://www.lemetropolecafe.com/ [35]
Eagle Ranch discussion site:
http://os2eagle.net/checksum.htm [37]
Ted Butler silver commentary archive:
http://www.investmentrarities.com/ [38]
----------------------------------------------------
COIN AND PRECIOUS METALS DEALERS
WHO HAVE SUPPORTED GATA
AND BEEN RECOMMENDED
BY OUR MEMBERS
Centennial Precious Metals
3033 East 1st Ave.
Suite 403
Denver, Colorado 80206
www.USAGold.com [39]
Michael Kosares, Proprietor
US (800) 869-5115
Canada 1-800-294-9462
European Union 00-800-2760-2760
Australia 0011-800-2760-2760
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www.ColoradoGold.com [41]
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Gold@gwe.net [42]
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Glendale, Arizona 85316
http://www.eldoradogold.net [43]
Harvey Gordin, President
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harvey@eldoradogold.net [44]
Investment Rarities Inc.
7850 Metro Parkway
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http://www.gloomdoom.com [45]
Greg Westgaard, Sales Manager
1-800-328-1860, Ext. 8889
gwestgaard@investmentrarities.com [46]
Kitco
178 West Service Road
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Toll Free:1-877-775-4826
Fax: 518-298-3457
and
620 Cathcart, Suite 900
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Lee Certified Coins
P.O. Box 1045
454 Daniel Webster Highway
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www.certifiedcoins.com [48]
Ed Lee, Proprietor
1-800-835-6000
leecoins@aol.com [49]
Miles Franklin Ltd.
3015 Ottawa Ave. South
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1-800-822-8080 / 952-929-1129
fax: 952-925-0143
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Resource Consultants Inc.
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Metalguys@aol.com [51]
Swiss America Trading Corp.
15018 North Tatum Blvd.
Phoenix, Arizona 85032
http://www.swissamerica.com [52]
Dr. Fred I. Goldstein, Senior Broker
1-800-BUY-COIN
FiGoldstein@swissamerica.com [53]
----------------------------------------------------
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