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Cheap gold mines disappear as bullion buyers splurge

Mine buyers are paying higher premiums amid bullion rally and the pace of deals is accelerating

While the gold rally has boosted the value of gold deposits, it has also improved the cash flow available for mining companies looking to acquire assets.

New York

SO MUCH for the run on cheap gold mines. Producers who were forced by slumping prices to unload assets last year are regaining leverage.

With bullion off to its biggest rally to start a year in four decades - aided by the UK's vote to quit the EU - mine buyers are paying...