Gold and Silver Mining: A Post-Mortem

There are potentially over 3000 gold and silver mining companies in existence today. Expect that number to halve over the next 2-3 years through an increasing wave of M&A activity and closures....
We would focus on companies that have current cash flow or imminent cash flow from operations and don’t need to death-spiral finance and we would focus on the highest grade deposits (the difference between 4 grams/tonne resource and 0.25 grams/ tonne, in basic terms means you have to shift 16 times less rock for the same gold which is one of the best ways of controlling costs) and those with largest exploration upside...
                                                   ................ Mark Mahaffey