Yamana Gold Inc.’s $4.8-billion takeover will be the catalyst for “much needed” consolidation in the gold industry this year, says founder Peter Marrone.
“The result of all that is there’s not only less money to go around, but there’s less money that chases quality opportunities,” Marrone, 63, said. “There are examples of assets of companies that are trading at a fraction of what they should be trading at,” the founder said. “We’re looking at those and thinking: with some elbow grease, some smart investment and our competency, we’ll create added value.”
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