[miningmx.com] – GOLD Fields had enough firepower to spend up to $500m on an acquisition but it would only buy an operating mine, said Reuters citing the gold firm’s CEO, Nick Holland.
“We think our ability to do a new deal is somewhere between $300 and $500 million … And there are quite a few opportunities within that range and value,” Holland told Reuters at the Reuters Africa Investment Summit.
“If we did something we would only want to buy in production mines. And the reason for that is that there is a unique value curve at the moment wherein production mines are trading at a discount to net asset value,” he said.
Click here to read the full article
