Thursday, 30th September 2004 (2991 views)

Wheaton River Minerals has revealed it will continue to acquire gold mines around the world, after a proposed takeover threat has been stopped.

The firm now plans up to $500 million of acquisitions, according to the Canadian Press.

It hopes to focus on gold projects or companies in Australia, Asia and the Americas and hopes to producer 200,000 ounces or more of the precious metal each year.

Chairman and chief executive, Ian Telfer, commented: "We're looking very much forward to getting on with the process of building our company… We're bullish on the metal price; if you're bullish on the metal price you should go and do something right now."

The firm, set up just three years ago, has not made any acquisitions since January, although it made six purchases in the 18 months before this.

 

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