This is the time when buyouts happen - when an asset prices are rising and company prices remain depressed for whatever reasons. I remember in the 2001 and 2002, when oil had just begun its multi year breakout, there was a snapping up of numerous underperforming oil companies. Consolidation in mining co's havent occured yet, but I would not be surprised if they begun to happen soon. Countries and individuals have actively begun to diversify away from dollar holdings (ex: India's purchase of IMF gold yesterday) and this trend will continue until the US economy stabilizes. That may take a full decade.

AEM and KGC are definitely candidates for buyouts as are a nuumber of junior miners that are trading at less than NAV.