'There's going to be a major winnowing' - Douglas Silver on exploration companies

- Douglas Silver, CEO of Balfour Holdings, says there are too many companies in the gold space, but consolidation is unlikely to happen during the current market bottom. Rather, he sees M&A occurring at the top of the cycle when companies can raise the funds needed to finance the merger or acquisition.orado.

"There's going to be a major winnowing because there's no capital coming into the exploration sector, so rather than having mergers you're going to have companies just die on the vine," he said, adding:Silver, a mining hall of famer in both Canada and the United States, and the author of 'Rise of the Mining Royalty Companies', is optimistic when it comes to political support for U.S. mining.

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