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Organic path for gold seniors

While strengthening balance sheets and debt reduction are still key tasks for senior gold producers, recent precious metal price strength has turned attention to brownfield growth, several company CEOs said during the senior gold producer session at the Denver Gold Forum in Colorado, US.

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The gold M&A spate, which saw Kinross acquire Bald Mountain (pictured), is likely to peter out

Growth of production ounces is not a goal in and of itself for producers, instead they are looking at growth in cash flow and net asset value (NAV).