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Mining

Drivers of Gold-Mining Sector Consolidation and Impact on Smaller Companies

On the surface, all the typical omens of a bull rally in metals seem present: a drop in the dollar index, disappointing economic and jobs data in the US, and the escalating geopolitical tensions in key locations like Iran and Venezuela – which have pushed investors towards safe haven assets and pushed the price of gold up. The trend is likely to bolster further consolidation in the mining sector, analysts claim. But one notable M&A transaction has shaken up the industry, raising important questions about the long-term effects and consequences of that consolidation – as well as the extent to which assets like gold remain save havens, explains Angelos Damaskos, manager at Junior Gold Fund.

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A seasoned fund manager and investor with over 15 years experience directing open-ended funds and private equity investments in natural resources.

Earlier 14 year career in Emerging Markets investment banking with leading financial institutions. Founded Sector Investment Managers Ltd in 2004, a U.K., FCA-authorized and regulated company specializing in private and public companies exploring for and producing oil, gas and precious metals. In the precious metals mining segment, the Junior Gold fund which he manages invests in smaller gold and silver mining companies in safe political territories.

Most of the portfolio companies have growing production, sustainable operating structures and active exploration programmes that could add materially to reserves. Born in Athens, Greece in 1963. Graduated in 1985 from the University of Glasgow with a BSc in Mechanical Engineering. In 1990 obtained a Masters in Business Administration (MBA) from the University of Sheffield.

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