Adds confirmation what I have said recently. The goal is 600K AuEq annually . That is the magic number to into the Sp 500. With El Gallo we are half way there.
The lower level of funding, which has helped depress company valuations, makes conditions “conducive” to consolidation in the industry, said Rob McEwen, the founder of Goldcorp Inc. (G) who is now chairman and CEO of Toronto-based McEwen Mining Inc. (MUX) He’s seeking purchases to add about 300,000 ounces of annual gold output by the end of 2015.