It is clear that M&A activity in the mining industry is expected to remain slow. Deals will come through only when companies have enough cash to seize the opportunity to take over assets unloaded by peers. It remains to be seen whether the Osisko Mining acquisition could lead to a fresh round of M&As in an otherwise dormant market. Sector Q1 Earnings Scorecard – Disappointing With all the companies in the Basic Material sector having reported for the first quarter, the curtains have fallen on first-quarter earnings season.