Full Report - Includes longer interview with Randy Smallwood of Silver Wheaton.
And this trend in the M&A drivers;
During the last 12 months, financial investors increased their share of total M&A undertaken by value from 5% in 2012 to 19% in 2013. This stands to reason given that many financial investors are countercyclical, attracted by the prospect of potentially strong returns driven by low asset valuations
The major producers are committed to a focus on improving free cashflow and returns — to be delivered through productivity improvements, recycling of capital, major cost saving initiatives, new production coming online and (now to a lesser degree) non-core divestments.
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