Perseus Mining's chief executive, Craig Jones, says fluctuations in gold prices are complicating how buyers and sellers value target companies, leaving many mergers and acquisitions in limbo before they close. He added that activity in the sector remains robust, but deal execution has become the main hurdle as buyers and sellers operate under divergent gold-price assumptions.

Industry coverage noted that higher bullion prices have supported several deals, including Northern Star Resources' takeover of De Grey Mining and Equinox Gold's acquisition of Calibre Mining. At the same time, larger transactions have struggled, such as Zijin Gold's planned $4 billion bid for Allied Gold and Gold Fields' A$38.7 billion approach to Northern Star that has stalled.