"Gold discoveries peaked in 2007 and production will soon follow, strengthening the value of the yellow metal and possibly fueling a boom in mergers and acquisitions in the gold-mining sector, according to Sprott Asset Management. Discoveries of gold has collapsed since then, "despite exploration budgets increasing by 250 percent from 2009 to 2012," Sprott's gold team said in a recent note. ..." http://www.marketwatch.com/story/impending-gold-production-cliff-may-deliver-a-jolt-to-prices-2016-07-26