The senior miners have largely recovered from the commodities bear market from a few years ago and now have the cash to be shopping for acquisitions, said Steve Todoruk, Investment Executive at Sprott. “They want new deposits. They’d ideally want to make their own discovery, it’s a lot cheaper than having to go pay top dollar to take over a junior,” Todoruk told Kitco News on the sidelines of the Precious Metals Summit in Beaver Creek. Todoruk said that juniors have found very few new deposits in the last five to eight years and so major miners have started to do more “desperate” things like financing juniors with early stage projects with maybe a “couple of drill holes at best.”
