West Africa is seeing significant M&A activity as the gold miners' shift focus to low capex, low cost projects which can make margins at lower gold prices due to higher grades or low cost heap leach projects.
There was an interesting discussion amongst Burkina Faso operators at the recent Scotiabank conference, with Truegold Mining, Orezone, Roxgold and Volta. The emphasis of the discussion was on government support and permitting to grow the gold industry.
Mark O'Dea recently discussed his favourable opinion of Burkina Faso HERE and HERE
Truegold have had more success than most in raising finance this year, with Liberty Metals & Mining for one, raising $23m.
B2 Gold made their recent offer for Volta Resources in Burkina.
Centamin have now made an offer for Ampella Resources at around $40m as they seem opportunities to grow outside Egypt as they ramp up gold production.
The Australian miners led a charge into West African exploration a couple of years ago and gained ounces in the ground and presumably more knowledge. The region in seen as generally under-explored but with great geological potential. A number of jurisdictions are seen as high risk but Burkina might be offering the miners what they need, quick progress to profitable mines.
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