A staggering amount of currency is being used to obtain real money resources. Over $10 billion dollars may change hands, for not, a printing press, but for mines.
At stake of, what seems to be corporate driven hostile takeovers, is 10.6 million ounces of gold, split between West Africa and South America.
The figures involved in this transaction only attest to a strong desire from the top of the ladders for gold!
If the size and situation of this gold transaction does not wake you up to the value of gold, I’m not really sure what will.
Goldcorp Inc. has put in a bid of $3.6B in for the South American mine, Andean Resources Ltd. (ANDPF.PK), located in Argentina. The mine has a proven and probable reserve at 2.5 million ounces of our yellow precious metal
Kinross Gold Corp. (KGC) has put in a bid of $7.1 billion for the West African mine, Red Back Mining Inc. (RBIFF.PK), located in Ghana. This gold mine has a proven and probable reserve at 8.1 million ounces of gold to be unearthed.
The full comparison can be found here