Newmont Buys Goldcorpse

By Otto Rock

…and with this deal, David Garofalo cements his reputation as the luckiest mining executive in the world. Because it wasn’t talent that made him rich.

There are many ramifications to this (NR here), but one small one that keeps floating back to my mind is how worried must be now. Another would be that must be happy. Another, bet you that Bristow tries for the 40% od Pueblo Viejo they don’t own. Lots of things, here.

The other angle that comes to mind is B2Gold, as it’s no longer whether but when it gets bought out. And while thinking about suitors, don’t overlook Barrick, as having Top Dog status snatched away so quickly by Newmont/Goldcorpse (anyone for Newcorpse?) won’t go down well with somebody who’s idea of fun is shooting large animals and posing for photos next to their dead bodies.

PS: On reflection and if ever faced with the choice of buying one or the other, there’s no contest. I’d take Randick over Newcorpse every single time, the latter is going to become one bloated corporate pig.

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