[miningmx.com] – SENTIMENT towards gold shares was starting to recover driven by merger and acquisition activity and a guarded view that the market was showing fresh value, said Reuters citing analysts.
“The perception that mining equities show good value is starting to spread,” Hedley Widdup, a fund manager at Lion Selection Group, told Reuters. “Since the start of this year, there has definitely been a change in sentiment,” he said, though it “is far from pervasive.”
Almost four years after the price of gold began tumbling, troubled gold miners were restructuring taking the value of completed gold mining mergers and acquisitions in the first five months of this year to $3bn – twice what it was in the same period in 2014, said Reuters citing Thomson Reuters GFMS.
“There has been more interest from generalists at the broker conferences for meetings,” said David Harquail, CEO of Franco-Nevada. “Often these generalists have no positions in the gold sector,” he said.
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