Bloomberg article: Cheap Gold Mines Disappear as Buyers Splurge for Disappearing Bullion

"The value of reserves held by major producers has almost doubled since the third quarter of last year, according to Bloomberg Intelligence. ... The number of acquisitions worth at least $1 million rose 14 percent last year to 192, the first increase since 2010, data compiled by Bloomberg show. ...

"The average premium paid on deals worth at least $1 million is about 42 percent in the current quarter, up from 29 percent in the first quarter, data compiled by Bloomberg show. The 60 deals pending or completed in the quarter are the most since the fourth quarter of 2011, the year that bullion surged to a record high of $1,921.17 an ounce. ...

"A gauge of 14 senior gold producers tracked by Bloomberg Intelligence has more than doubled this year. On average, their reserves were valued at $178.43 an ounce in the second quarter, the highest since the first quarter of 2013, data compiled by Bloomberg Intelligence show. In the third quarter last year, the average was $90.90."

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