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It's actually wild how many gold producers are trading around 10% FCF yield right now. Some are trading at 15-30% FCF yield three to five years out at these gold prices, and with reserves and resources to spare. I have no idea why some of the better quality majors would choose to acquire juniors when they can just invest more into their own organic growth while rewarding shareholders with divvies and buybacks. I guess their cost of capital is low so at the right price M&A makes sense. Just have to make sure not to overpay.
