Acquisitions cause a major update of the GoldMinerPulse database

Since Nov 2010, we have been maintaining a database of Gold and Silver miners, explorers and developers, initially coinciding with the Gold Miner Pulse database.

Upon many acquisitions and delistings, only a limited number of original list components is still on board. Since early January, acquisitions have caused a major update of the GoldMinerPulse database. 

1. The acquisition of Filo Mining (our top performer) by a joint-venture of Lundin Mining and BHP was closed on Jan 17. The intented acquisition was announced on July 29, 2024.
2. Bluestone Resources (BSR) was acquired by Aura Minerals (ORA). The deal was closed on Jan 14.
3. The acquisition of Gatos Silver by First Majestic Silver Mining (AG) has been covered in an earlier blog article. The deal was closed on Jan 15.
4. Finally the acquisition of Silver Crest by Coeur Mining has also been covered in an earlier blog article. That deal was closed on Feb 14.

The four stocks have been delisted after acquisition.

The acquisitions of explorer-developers or junior miners is the main cause for the 'equal initial weight' index outperforming as compared to the market capitalization weighted GMP gold miners index, with gold mining behemoths tending to do less well.

You find new graphs on the Gold Miner Pulse page. At this moment the more detailed Gold Miner Pulse extended article equally contains fresh graphs.

The long term performance of the (94) miners in the GMP database is covered in another article. It also contains a list of miner names next to the trading symbols and an extended overview of acquisitions and delistings going back to Nov 2010.

A useful disclaimer to end this story with: not all acquisitions result in a profit for most shareholders of the target. Bluestone Resources has been a less successful explorer, with the majority of shareholders diluted and only recovering part of their loss after the bid. Remember also Primero Mining, where the acquisition finally ended years of suffering by shareholders. Only with a (timely bought) tenbagger like Filo Mining among your holdings you may thrive, since inevitably you will also screw it up badly a couple of times.