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Tuesday, 6th March 2007 (5311 views)

Gold companies could be forced to extend the remit of their operations on the back of a reduction in the number of viable projects available.

Gordon J Bogden, financial managing director and mining group head of the National Bank, said that pure gold companies would have to look to other avenues of opportunity.

He used the example of Goldcorp, which has taken on almost half of its holdings in non-gold form, as an example of such diversification.

Citing reasons behind the predicament, Mr Bogden said that there were not enough mid-cap gold companies in existence, reports Mineweb.

Presenting a speech to the Prospectors and Developers Association Conference in Toronto, he also said that not enough funds had been put into exploring projects, which would necessitate the.

Smaller companies would need to collaborate to counteract the growth of bigger players in the gold mining industry, Mr Bogden also said.

 

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