AngloGold’s bid for Centamin has underlined the value in Africa-focused gold miners says broker Panmure Liberum, which predicts more M&A activity in the sector
“AngloGold’s offer for Centamin is just the latest in a global trend that we expect to continue for the foreseeable future,” said the broker.
Rainbow Rare Earths Ltd (LSE:RBW, OTC:RBWRF) has signed off a royalty financing and share subscription agreement with Ecora Resources PLC (LSE:ECOR, TSX:ECOR, OTCQX:ECRAF) for the Phalaborwa project in South Africa.
All conditions precedent required for the payment of the US$8.5 million royalty consideration have been met, Rainbow added, and the funds, net of US$229,000 transaction costs, have been received.
Empire Metals Ltd (AIM:EEE) has started work on environmental impact assessment studies for the Pitfield titanium project in Western Australia.
Ecology (fauna and flora) and baseline dust monitoring are the first of several studies to be initiated and are key for the permitting and development of the project, said Empire.