Gold has found support at the 50 day moving average.
The recent competing offers from Franco Nevada and Royal Gold for International Royalty shows the need of the large producing companies to add developing reserves to their portfolios. Many major companies are paying premiums for these pre production assets.
Barrick’s bid for the El Morro project which is joint ventured with New Gold also demonstrated the premium the large cap companies are willing to pay for these assets.
I believe we will see more buyouts of juniors in 2010 and am preparing to profit.
Please stay tuned as I will send out the top 5 buyout opportunities for 2010 before the New Year.