ASA - Ride The Wave Of Consolidation In The Gold Sector
The gold mining sector is a highly fragmented industry. There are many players that churn out production of the precious metal – from tiny, 50,000 ounce per annum miners, to multi-million ounce producers.
The sector, though, is now seeing some aggressive consolidation among the large cap names. In September 2018, Barrick (GOLD) and Randgold announced they were merging in an $18.3 billion deal – eclipsing the size of Newmont (NEM) which recently stole the crown from Barrick – and creating the largest gold company in the sector. The ABX/GOLD union just