http://www.mineweb.com/mineweb/view/...

"Gold mines tend to show high cash margins but poor ROI due to short mine lives," Citigroup advised. "As such, the wave of M&A for gold developers has been less impressive with more current availability of single asset gold developers. Key examples that could be considered targets include Osisko and Detour Gold in Canada, Minefinders and MAG Silver in Mexico, Guyana Goldfields in Guyana, Crystallex and Gold Reserve in Venezuela, and Greystar Resources in Colombia, among others."