Friday, 1 November 2013

Junior Gold M&A - Eldorado Acquire Glory Resources

Eldorado held 20% of Glory Resources and today announced acquisition of the remainder for $30.5m.
Glory hold a small (637k oz P&P), but high grade (15.1g/T) project proximate to Eldorado on Thrace, Greece. Emphasising the renewed focus on high grade and profit margins.

A reminder of why we take note of Juniors with a Major Mining Shareholder though not always the easiest to follow holdings across exchanges. We have seen a few low cost acquisitions with strategic fit and exploration or resource "optionality" - Alamos' Orsa Ventures one of the smallest.

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