Diggers and Dealers' golden lining stretching all the way to North America:
http://www.abc.net.au/news/rural/2018-08-08/local-gold-industry-in-lure-to-north-america-at-diggers-dealers/10082508.
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Kalgoorie-Boulder's Diggers and Dealers woos investors from across the world to Australia's golden heart. The scent of mergers and acquisitions mingled with free coffee and frying bacon as the annual Diggers and Dealers mining conference in Kalgoorlie-Boulder kicked off its 27th year. The Western Australian city is home to the massive Super Pit gold mine, and it is the prospect of actually touring operating mine sites that puts Diggers — as it is colloquially known — on the must-do dance card of miners and investors from around the world. This year it is the local miners on the front foot as there are new suitors in town. Australia's mining industry is at the top of its game, and in a role reversal they are being courted by beaus from the northern hemisphere. They may not have carnations poking coyly from their top pockets, but they definitely have golden rings and nuptial agreements all ready to be signed and tucked safely away in inside pockets. There is also a sizable contingent of Australian and Canadian investors and gold miners that may not be proposing marriage, but are definitely ready to cosy up for cross pollination. Historically, developments in Australian gold mining have been to consolidate local assets like prospective tenements, or operating plants or mines, and wait for cashed-up South African or North American investors to fly in, pay a premium for the assets, pick up the tab for the French Champagne, and fly out again. After the GFC, miners had to tread water for years, but they did keep their heads above the waterline. All that has changed in the last 18 months or so. The lessons learned, and the costs cut during that time, have put the locals in a position of strength. Australians are now trading at a premium, and it is not all about the lower Australian dollar pushing up the local price of gold — which is usually priced in $US. "Miners cut their production cost down from $1,400 an ounce before the GFC to around $1,000," said the principal of mine brokerage firm PCF Capital, Liam Twigger. "Now the spot price is $1,600-1,700. It's a fabulous margin, and the Australian gold sector is trading at a premium. Kirkland Lake Gold, for example, is certainly well beyond the courtship stage. The blushing bride has walked down the aisle three times already on the Toronto Stock Exchange (TSX), New York Stock Exchange (NYSE), and the Australian Securities Exchange (ASX). "The right type of geographic diversification can be a fantastic thing for a company," said Mark Utting from the company's investor relations unit, which owns Australia's Fosterville and Cosmo mines. "The thing about the mining industry is it's a global industry, but it's a small community. "It depends on how they operate their company and the quality of the orebody." Cathy Moises, the head of research with industry consultants Patersons, said the industry was currently primed for mergers and acquisitions (M&A). "'Diggers' is usually the start of the M&A
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