If you think consumers are frenzied about turning their gold into cash, consider the ongoing restructuring process at Teck Resources (NYSE:TCK).

Faced with few alternatives to reduce the oppressive debt burden incurred through the 2008 Fording Coal acquisition, Teck continues to slough off gold assets like some kind of molting serpent. This week, Alamos Gold announced a deal to acquire two gold-bearing properties in Turkey from joint venture partners Teck Resources (60%) and Fronteer Development Group (AMEX:FRG) (40%) for total cash and stock consideration of around $90 million.

The cornerstone asset of Alamos Gold's portfolio is the Mulatos Mine in Mexico, which hosts 1.72 million ounces of proven and probable gold reserves and produced 151,000 ounces of gold in 2008. With the "bolt-on" addition of the two mine development subsidiaries in Turkey, Alamos is targeting near-term production from the more readily accessible oxide resources of 2 million ounces of gold and 13.7 million ounces of silver.

Additional treasure may lie in the sulphide deposits below the near-surface oxides. With Eldorado Gold (NYSE:EGO) vaulting into growth from the strength of its flagship Kisladag Mine in Turkey, this Fool wonders whether Alamos Gold could be Eldorado's next acquisition target to build upon its already impressive geographical diversification.

At an acquisition cost of about $40 per gold equivalent ounce (GEO) for the oxide resource alone, the deal appears to value known assets similarly to Teck's prior sale of the Lobo Marte mine to Kinross Gold (NYSE:KGC). With additional gold divestments conveyed to Barrick Gold (NYSE:ABX) and Royal Gold (NASDAQ:RGLD) earlier in the year, Teck has leveraged the attractiveness of its former gold portfolio to reduce debt and sign a new lease on life.

For Fronteer Development Group shareholders, this deal provides a welcome cash infusion to promote the company's development of America's next top gold mine: the Long Canyon project with its estimated 64% internal rate of return. While Fronteer's outlook has improved dramatically since I spoke to CEO Mark O'Dea in September 2008, the share price has lagged the sector's recovery to a surprising degree.

Stay tuned, Fools. Consolidation activity continues to heat up within the precious-metals sector, signaling that industry participants may be keen to pounce upon growth during any pauses, like the one under way in gold's recently relentless climb.

Gold is a hot topic on the blogs at Motley Fool CAPS. Join the free service today and see just how many Fools are taking the long view when it comes to investing in gold. The "Gold" tag at CAPS lists 49 potential investments, and you'll find Christopher's comments on most of them.

Fool contributor Christopher Barker carries a silver coin that reads: "Honest value never fails." He can be found blogging actively and acting Foolishly in the CAPS community under the user name TMFSinchiruna. He tweets. He owns shares of Eldorado Gold, Fronteer Development Group, Kinross Gold, and Royal Gold. The Motley Fool's disclosure policy is 0.999 pure.