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CGOOF - Zijin Mining Acquires Continental Gold: How The Acquisition Stacks Up Against Past Takeovers
Continental Gold Ltd
It's been a busy couple of weeks in the mining sector (GDX), with over 20 million ounces of gold taken off the market in 10 trading days between the Detour Gold (DRGDF) and Continental Gold (CGOOF) acquisitions. It is clear that gold majors are not yet satiated when it comes to adding to their production profiles, and Continental Gold is the most recent example. The company was acquired Monday by Zijin Mining (ZIJMF), a Chinese mining group, for $1.053 billion dollars. This works out to an enterprise