"Waterton Adds To List Of Private Equity Deals In Mining"
JACQUELINE NELSON Wrote:
"Private equity firms are increasingly pursuing assets in the mining sector, as higher costs and industry volatility have made assets available at cheaper prices. In some cases, these private equity firms are edging out major mining groups in their acquisitions.
Waterton Global Resource Management Inc.’s purchase of Nevada’s Hollister gold mine and Esmeralda Mill announced Tuesday offers access to a high-grade mine being sold in bankruptcy restructuring. Waterton beat out several traditional mining companies, including runner-up Hecla Mining Co., the largest primary silver producer in the United States." Quoted for the Globe & Mail
I am thinking; no praying GBG may have a JV with Waterton Global Resources ? Business people are refering to this as an equity deal and not an acquisition??? Waterton Global Resources/Barrick is an equity financing firm and not a mining firm so... unless they have purchased our Nevada assets & Hollister Mine for Barrick Gold?
Why? Well, this is a long shot but I see no mining jobs being advertized for the Hollister Mine this week? I cannot envisage all of the GBG miners wishing to stay with a new employer unless they have been told not to worry and it will be business as usual so...Ron Thiessen would still be in a bit of drivers seat.
A Waterton/Barrick Gold JV would please the creditors etc.
Stranger things have happened and the $15 million price tag is far too low unless this was a JV and Waterton Global Resources/Barrick Gold will be absorbing many of our outstanding debts for ONLY a year or two.
If this is the case, the miners are really going to need to produce and the price of gold will need to rise above $1550 USD for us to have a viable golden business oportunity IMHO!
Cheers,
Golden~Polar~Bear
PS I think it will take GBG until at least July if GBG Team is going to properly get Burnstone Mine ramped up, ,with 1000+ miners etc. and a solid backer with incredibly deep pockets??? Praying also for a Southgold-Burnstone Mine JV with ... ?
