ANDY HOFFMAN

Globe and Mail Update

February 11, 2009 at 7:14 PM EST

They've got the cash, so how are they going to spend it ?

With the price of gold approaching $950 (U.S.) an ounce, the big bullion producers have been aggressively tapping the equity markets and loading up the war chest to go after beaten-down juniors miners.

There are plenty of bargains to be found, according to analysts at Canaccord Adams. The brokerage has compiled a list of some of the top takeout candidates and is also speculating on who might be doing the buying....

Detour Gold Corp.

It is endowed with a total resource of 13.2 million ounces at its Detour Lake gold project in northeastern Ontario, so this company's property certainly has the size to attract the big boys. Detour's [DGC-T] market value is just $361-million (U.S.), meaning the market is valuing the company at or about $27 an ounce of gold.

Canaccord identifies only one potential suitor for Detour — Goldcorp.

"We would put Goldcorp near the top of the list of potential interested buyers given its regional presence in Northern Ontario with three operating mines: Porcupine JV, Musselwhite and Red Lake," Mr. Butler said....