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Independence may lead race to Cowal

Many will be interested in the latest Australian gold asset set to go under the hammer, but unlike most of the deals to date some serious cash is likely to be needed to become the new owner of a “jewel” of the M&A gold scene downunder – Barrick’s Cowal project in New South Wales.

In a reasonably comprehensive note to clients this week, UBS suggested the likelihood of something in the order of A$600 million (US$460 million) having to be stumped-up for the circa 270,000 ounce