Kingsgate Consolidated has shared that after posting an exceptionally strong quarterly report, the company could be an attractive target for acquisitions, which could be further fueled by the fact that the firms is looking to reopen old pits.

As has been shared by Managing Director Gavin Thomas, it would be very "naive" for any cost-effective, high-quality gold producer to "think it was not being examined by potential predators".

"There is clear consolidation (in the sector), especially in the Asian sector. As a company, we have strong, well-funded aspirations and we see no reason why they can't be met. If you have a company like that, you can't hide", Mr. Thomas said.

Today, the company revealed that it has managed to beat market expectations by producing 40,224 ounces of gold in the three months up-to December, which means that Kingsgate is right on track to meet its target of producing up-to about 140,000 ounces of the metal for the 2009-10 fiscal year.

Mr. Thomas, while announcing the figures and other plans, also shared that talks with bankers over future prospects are going positive.