Sprott CEO Hunting for Bargains Among Beaten-Up Gold Miners
- Sprott sees Detour Gold, Torex Gold as potential M&A targets
- Junior miners getting ‘act together’ is paving way for deals
Peter Grosskopf.
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
Canada’s $8 billion precious metals-focused fund manager is bargain-hunting for stakes of mining firms that have seen valuations tumble.
“Look for the companies that are beaten up,” Sprott Inc. Chief Executive Officer Peter Grosskopf said, sharing his company’s investment strategy. If the bigger producers of the metal don’t end up buying their smaller rivals, “the juniors will consolidate among themselves to create bigger companies,” he said.