By Tommy Humphreys
CEO.CA
Gold miners will have to acquire new projects in 2015 and 2016 if they intend to stay in business.
This from Brent Cook, economic geologist and the editor of Exploration Insights, a respected mineral exploration investment research service.
A dearth of new economic discoveries, reluctance to make acquisitions, the “high-grading” of existing mines, and cuts to exploration and development expenditures over the past three years are the key reasons for Mr. Cook’s thesis.
By 2015 and 2016 the boards of these companies will “wake up to the fact” that they are running out of new projects to replace their declining gold mines.
“At that point there’s maybe a dozen projects out there that they are going to want,” Mr. Cook told CEO.CA in a Skype interview.