Mining companies are selling shares at the fastest clip in a decade, and investors looking for exposure to sharply higher gold prices and in-demand critical minerals can’t get enough.
With October nearly finished, mining and metals companies across North America have raised $2.9 billion across 185 deals – an accelerated pace that will mark the largest monthly volume for sales of new shares by public companies in the sector since November 2013, according to data compiled by Bloomberg.
Gold and silver companies account for a third of the number of October’s stock sales and, even as the precious metals prices have fallen in recent days, investment bankers say appetite for more deals has been consistently strong.
“I can’t even think of a deal that’s struggled for the last while,” said Daniel Nowlan, vice-chairman and managing director of equity capital markets, corporate and investment…
