O3 Mining investor knocks Agnico offer
Agnico, the second-largest gold miner by stock market value, agreed to acquire O3 last month for about C$204 million.
The gold:silver ratio, which describes silver’s buying power by dividing the per-ounce price of gold by that of silver, has averaged 60:1 over the past 35 years, meaning it’s taken 60 ounces of silver to purchase one ounce of gold. Though with silver’s most recent push to the $36/oz level, it now takes much less.
