The rise and fall of gold: M&A activity has bottomed Report

Insight 24 June 2015

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Report summary

With the gold market having entered its third year of a bear market gold mining companies have continued their tumultuous slide which has left share prices at levels last seen over a decade ago. In a bid to rebuild sentiment and begin to deliver shareholder value, the industry has embarked on a journey of radical cost cutting and renewed capital allocation discipline in order to shore up levered balance sheets. Gold industry mergers & acquisitions (M&A) deal spend in 2014 came in at ...

Executive summary
- Gold industry corporate activity
- Transaction review
Corporate transactions
Asset transactions
- Resource size, TCPS costs and implied value
The money trail
Conclusions and outlook

Tables and charts

This report includes the following images and tables:

Historical M&A deal spend, gold price sensitivity and evidence of market bottom in 2014
Top 20 corporate transactions by deal value
Top 20 asset transactions by deal value

Asset acquisition by acquirer nation - 2014
Historical M&A deal spend, gold price sensitivity and evidence of market bottom in 2014
Relationship between resource size, TCPS costs and implied value
Relationship between reserve size, TCPS costs and implied value
Relationship between development status, TCPS costs and implied value
The rise and fall of gold: M&A activity has bottomed: Table 4
Share price performance of Northern Star Resources compared to top ten gold producers and gold price