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Was it wrong to sell gold to short tech?
Nice looking flag Warren has here... I'm going to take some of my wild west proffits and get some around here.... Soon.
China Will Dump US Treasuries and Ditch US Dollar From Global World
161,876 views•Sep 5, 2020
Barrick Gold Corp on the TSE - Worlds' largest (or 2nd largest Au Producer)
This "twin-top reversal / enormous plunge" in the US Dollar / Canadian exchange rate, caused almost EVERY commodity to absolutely rocket - the golds / the silvers / lumber / wheat, nickel, copper, oil? etc.....
It was easy to call that first reversal......Could calling this 1.30 level be just as elementary ?
Buffett Buying Gold What should you do?
658 views•Aug 15, 2020
Warren Buffet's Berkshire Buys 21 Million Shares Of Barrick Gold
Jet Encila
Berkshire Hathaway has made Barrick Gold Corp – the second-biggest precious metal mining company in the world – the latest addition to its growing investment in the second quarter, Bloomberg reported.
The Warren Buffett-led holdings group secured a new spot in Barrick, acquiring almost 21 million shares of the gold miner's outstanding stock, currently worth around $565 million, documents of a regulatory filing showed, Friday.
Berkshire disclosed it has unloaded shares of some of the most prominent American lenders, cutting its shares in JPMorgan Chase & Co and Wells Fargo, and ending a partnership with Goldman Sachs Group. Berkshire also disposed of shares in PNC Financial, BNY Mellon, US Bancorp, Mastercard, and Visa.
Buffett has not totally lost confidence in the banking business, after telling stakeholders in May that lenders were financially sound and had the capacity to deal with the ongoing global health crisis.
Buffet still has major stakes in several banks including Bank of America, where just this July Berkshire poured in over $2 billion and snagging nearly 12 percent shares valued at over $27 billion.
Barrick Gold's shares have gained from the increasing prices of the yellow metal, which registered a record last week, and was up 3.2 percent during extended sessions after report of Berkshire's investment. The Toronto-based miner's shares settled at 26.99 on Friday. The company did not immediately respond for comment.
The Berkshire CEO's latest investment is very unexpected considering that Buffet has been very vocal about gold, calling it "an inferior investment to businesses." In his 2011 stockholder note, he said the yellow metal is "neither of much use nor pro-creative."
Gold mining companies are now taking advantage of rising prices of the commodity that are elevating profit margins as manufacturing costs have remained firm, making them hugely enticing for investors. Giant miners like Newmont Corp. has been very optimistic about luring back investors who withdrew from the market years ago.
The surge in prices of the yellow metal has lifted investors' inclination to allot billions of money into the business, with gold miners securing $2.5 billion in secondary equity bids in the current quarter. Gold has become so in demand as central bank interest-rate reductions and a drop in federal bond output strengthened its appeal.
Meanwhile, Buffet's holding group included to its portfolio grocery chain Kroger, purchasing 3 million more shares in the second quarter. Berkshire last acquired nearly 22 million shares in the company, a stake worth around $743 million at end of the quarter.
https://www.btimesonline.com/articles/137280/20200815/warren-buffet-berkshire-hathaway-barrick-gold-yellow-metal-precious-metal.htm
Barrick Gold Corpora (ABX)
35.22 ? -3.1 (-8.09%)
Volume: 4,992,021 @08/11/20 12:09:28 PM EDT
Bid Ask Day's Range
35.22 35.23 35.02 - 36.68
ABX Detailed Quote
Nevada Gold Mines Exceeded All Expectations
in First Year, Says Barrick -
JULY 1, 2020 10:30 AM ET
Toronto –
Nevada Gold Mines (NGM), established a year ago today, has posted an
exceptional performance in its first 12 months of operation, delivering
real value to all its stakeholders, says Mark Bristow, president and chief
executive of Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX).
Barrick operates NGM, the world’s largest gold mining complex, and owns
61.5% of the business,
with
Newmont Corporation holding the rest.
https://www.barrick.com/English/news/news-details/2020/nevada-gold-mines-exceeded-all-expectations-in-first-year-says-barrick/default.aspx
God Bless
nowwhat2 thank you,
well, every correction is a good buy opportunity -
in this LT gold bull market -
the majors had a good upswing and
the junior producers will be gaining more
in the next bull hike -
like TPRFF and GPL are on the bull move )
have a great day -
Imo!
God Bless
Barrick Gold Corpora (ABX)
31.3 ? -1.05 (-3.25%)
Volume: 3,330,427 @06/03/20 12:28:13 PM EDT
Bid Ask Day's Range
31.3 31.31 30.72 - 32.07
ABX Detailed Quote
Good to see strength here, now soon the smaller explorers will follow the seniors, the so called "laggers" will come next: Smaller canadian explorers (traded at the TSX) with following symbols for example: SSE, CBI, PSL, EAS, BHS, ORG will, they will, in my opinion, provide a great leverage if the metals continue to go higher, and they might well do so thanks to unlimited money printing.
We Are Now In The Process Of Dismantling The Rothschild Banking System, Target Locked
May 13, 2020
Gold is ready to take off and sound money will be returning…
Jim Willie interviewed on X22 Report Spotlight
A Global Market Leader
Sponsored By : FOREX.com
Empowering FX Traders in the World's Largest Traded Market for over 18 Years. Forex involves significant risk of loss. . Read More
Todays interview is with Jim Willie. Jim talks about event, explains
the stats and how this is blown out of proportion.
Jim then segues ways into the economy and that the [CB] is now being
loaded up with toxic assets to bring
the Rothschild banking system down.
Gold is ready to take off and sound money will be returning
Barrick Gold Corpora (ABX)
39.24 ? 1.13 (2.97%)
Volume: 2,995,658 @05/15/20 2:21:12 PM EDT
Bid Ask Day's Range
39.23 39.24 38.34 - 39.65
ABX Detailed Quote
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=154781656
ABX..Think ABX is interested in owning the Pebble deposit?
Nevada Gold Mines donates $1.5m to covid-19 Task Force
MINING.COM Staff Writer | April 3, 2020 | 11:18 am Top Companies USA
https://www.mining.com/nevada-gold-mines-donates-1-5m-to-covid-19-task-force/
The FED's balance sheet blew through $5 trillion last week....
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=154651994
Grip it and rip it!
Your post is a hoax. And you have been spinning it all over iHub.
You should be ashamed of yourself. People are dying out there.
Chart.....What Barrick does - moves the whole sector
What the.....Why's my 2s ETF up 50% the past 2 days ? (from its' lows)
Shakeout ?......Or - What gives - Regardless Thank goodness !
Ah.............It's just all about the Barrick $30 Canadian level
Don't believe me ?...........Check it out
Has an even BIGGER-strong history at its' $20 level too -
Never even noticed this 30 before
ABX which has a lot of copper and some in not as safe mining
regions vs. KL mines mostly gold and in safe areas.
In addition KL has a lot of cash on the balance sheet so that portion
of there assets (over 10% of their market cap) should have held value
in this market decline I think if the gold price rises it should
benefit KL more than ABX because of KL's greater percentage of
gold endowment.
AEM had a bad year but their 2019 earnings are only about a half of
KL's.
Is KL an undervalued bargain ?
All gold miners have taken a big shareprice drop this week much greater than gold even with fridays drop in the POG back to the US $1520 range.
In trying to make sense of the KL shareprice compared to other gold miners I looked at Barrick and Agnico Eagle.
KL showed consolidated earnings in their Feb 20 report of $2.74/share but Yahoo shows $2.65/share.
I'm not sure why. These Yahoo earnings do not include the additional
earnings that will come in from the Detour mine from 2019 so just very
roughly Detour will have mined close to 600k oz at a profit of about
$300- $400 over their costs of around $1000/oz so there should be an
addition of lets say US $350M divided by the shares now outstanding of
286 million so about $1.22/share to be added to the KL earnings for 2019 (actual shares are less than 286M now due to buybacks).
For purposes below I used the Yahoo $2.65/share plus $1.22 from
Detour to give an estimate of KL's actual earnings for 2019 of
$3.87 to compare with ABX and AEM now that the shares issued
to buy DGC are included in KL's share base.
Any input as to why this KL earnings estimate is wrong would be
appreciated.
Until we have post merger data on KL's earnings and the value put on
Detour assets and its 2019 earnings its hard to compare but using
Yahoo Finance and US dollar values below is a brief comparison:
Stock share price earnings Market Cap
ABX/GOLD 15.67 2.26 27.91 B
AEM 37.27 1.99 8.98 B
KL/DGC 23.10 3.87 6.60 B
I know the market is concerned with the life of mine at its rich
Fosterville property but this is getting ridiculous.
KL's earning per year are by far the best of these 3 in fact they are
approaching that of both ABX and AEM combined on a per share basis.
Yet it is valued at less than a quarter that of ABX only ¾ that of AEM .
AEM had a bad year but their 2019 earnings are only about a half of
KL's.
KL mines mostly gold and in safe areas vs ABX which has a lot of copper
and some in not as safe mining regions.
In addition KL has a lot of cash on the balance sheet so that portion
of there assets (over 10% of their market cap) should have held value
in this market decline I think if the gold price rises it should
benefit KL more than ABX because of KL's greater percentage of
gold endowment.
The cash provides ready funds for exploration while others need to
borrow or issue shares to afford to explore.
The only thing that would seem to be holding back KL's share price is
the perception that it has a shorter mine life which
the Detour acquisition addressed somewhat.
Any exploration success this year at either Detour Lake or at
Fosterville will likely make this stock surge ahead meanwhile
Macassa is growing and will soon have more production from
the new shaft even if Fosterville begins to decline.
Bottom line is long term an undervalued KL looks like a
far superior bet than a bloated ABX which mines copper
in dangerous jurisdictions or
AEM which is having mine problems up north.
westcoast2019
Giant Donlin Gold project obtains more necessary permits
Allen Sykora Allen Sykora
Thursday February 06, 2020 08:21
Kitco NewsShare this article:
(Kitco News) -
Novagold Resources Inc. (NYSE American, TSX: NG) announced Thursday that its flagship Donlin Gold project has received more of the necessary permits to begin construction, this time from the Alaska Department of Natural Resources.
https://www.kitco.com/news/2020-02-06/Giant-Donlin-Gold-project-obtains-more-necessary-permits.html
The project, co-owned by Novagold and Barrick Gold Corp., got final state right-of-way authorization for a buried pipeline for natural gas. The Department of Natural Resources has also given final authorization of easement, land leases, land use permits and the material site OK for proposed transportation facilities, as well as an easement for a fiber-optic cable on state lands. Also, by denying an appeal, the Department of Natural Resources affirmed the January 2019 approval of Donlin Gold’s reclamation plan and accompanied permit, Novagold said.
“We are very pleased to see the issuance of key transportation and energy infrastructure approvals for Donlin Gold,” said Greg Lang, president and chief executive officer of Novagold. “These final state land authorizations are important for the advancement of Donlin Gold.”
The company said a proposed 316-mile natural-gas pipeline would be 14 inches in diameter, typically buried at three to six feet deep, providing a reliable natural-gas supply regardless of weather or season to support power generation at the site.
Donlin Gold is considered one of the largest known open-pit gold deposits in the world. Once in production, Donlin Gold is expected to produce an average of more than 1 million ounces annually over a 27-year mine life.
By Allen Sykora
For Kitco News
Barrick sees gold output above estimates on Nevada boost
Reuters | January 16, 2020 | 4:45 am
Markets Top Companies Canada Gold
Barrick’s profit nearly triples, but
sees flat production for next five years
Turquoise Ridge mine in Nevada.
(Image courtesy of Barrick Gold.)
Canadian miner Barrick Gold Corp’s fourth-quarter gold production
estimates came above analysts’ expectations on Thursday, as its
Nevada Gold Mines joint venture with
Newmont Corp yielded more of the precious metal.
The company said it expects the joint venture –
the world’s biggest gold complex –
to produce 585,000 ounces of gold for the three months ended Dec. 31.
Total preliminary gold production rose 14% to 1.44 million ounces
from a year earlier, while analysts were expecting
1.40 million ounces of gold, according to Refinitiv IBES data.
NEVADA GOLD MINES JOINT VENTURE — THE WORLD’S BIGGEST GOLD COMPLEX —
IS EXPECTED TO PRODUCE 585 MILLION OUNCES OF GOLD
FOR THE THREE MONTHS ENDED DEC. 31.
Nevada Gold Mines was formed last year after Barrick pulled its $18
billion hostile bid for Newmont Corp, the world’s largest gold
producer, and combined assets with the rival.
They both expect to save more than $5 billion over the next 20 years.
Last year, Barrick also acquired Africa-focused Rangold Resources to boost its gold reserves and grades. Gold gained about 18% in 2019, fueled by investors seeking safe-haven assets on the back of global recessionary fears triggered by the long-drawn-out trade spat between the United States and China, the world’s two largest economies.
Barrick, the world’s second-largest gold producer, also benefited from the resumption of operations at its Tanzanian North Mara mine in the fourth quarter, following the lifting of restrictions at the tailings storage facility in September.
The company’s copper output gained 7.3% to 117 million pounds in the quarter, while it sold 91 million pounds of copper.
Barrick also said it expects a quarter-over-quarter decrease in total cash costs per gold ounce and all-in sustaining costs per ounce of about 1-3% and 6-8%, respectively.
US-listed shares of the miner edged higher on Thursday affording the company a market value of $32 billion.
SIGN UP FOR THE PRECIOUS METALS DIGEST
Barrick Gold Corpora (ABX)
22.77 ? -0.01 (-0.04%)
Volume: 1,453,290 @01/14/20 1:58:04 PM EST
Bid Ask Day's Range
22.77 22.78 22.56 - 22.83
ABX Detailed Quote
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=152885724
Conversion of Pueblo Viejo Power Plant Scheduled for Q1 2020
Conversion Lowers Greenhouse Gas Emissions and Reduces Costs
TORONTO, Dec. 17, 2019 (GLOBE NEWSWIRE) --
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced that the Pueblo Viejo power plant is expected to receive its first natural gas in Q1 2020 in a move that will lower greenhouse gas emissions and cut costs, in line with the Group’s clean and efficient energy strategy.
Pueblo Viejo entered into a 10-year supply agreement with AES Andrés DR, SA in May 2018 for the provision of natural gas and the construction of a gas pipeline from the AES gas terminal to the Quisqueya I power plant for the mine. This will also benefit the San Pedro region which has not previously had access to this cleaner alternative fuel.
Barrick president and chief executive Mark Bristow says since the commissioning of the Quisqueya I power plant in 2013, Pueblo Viejo has looked for ways to reduce the impact of its air emissions on the environment and the cost of energy production.”
“The conversion of Quisqueya I to natural gas will help reduce Pueblo Viejo’s power generation costs by some 30%. Greenhouse gases will also be cut by 30% and nitrogen oxide by 85%, and the mine’s dependence on oil will be significantly decreased,” Bristow said.
The gas pipeline is facilitating the conversion of other power plants in the region which will translate into further reduction in greenhouse emissions and significant savings in energy costs within the Dominican national grid. Recently other power producers in the area have announced the conversion into natural gas of an additional 525 Mw.
Pueblo Viejo is also contributing to the Dominican electricity sector with the construction of the Bonao III power substation as part of a public/private alliance with the Dominican Transmission Entity and Empresa Generadora de Electricidad Haina (EGE Haina) which owns the power plant Quisqueya 2 located next to Quisqueya I. The substation is expected to help to provide more stability to the country’s national grid. Finalization is scheduled for mid-next year.
Bristow noted, “The conversion agreement, the natural gas pipeline and the Bonao III substation represent a step forward, not only for Pueblo Viejo but for the Dominicans, as it shows not just environmental benefits, but also a significant reduction of the country’s electricity cost, less dependency on crude oil and more stability for the national power grid.”
ENQUIRIES:
President and CEO
Mark Bristow
+1 647 205 7694
+44 788 071 1386 Chief Operating Officer
LATAM and Asia Pacific
Mark Hill
+1 (416) 307 7429
+1 (416) 358 4667
Relations with Media and Investors
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com
Website: www.barrick.com
Cautionary Statement on Forward-Looking Information
Certain information contained in this press release, including any information as to Barrick’s strategy, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “expect”, “strategy”, “will”, and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to the anticipated benefits of the conversion to natural gas of the Quisqueya I power plant including lower power generation costs, reduced greenhouse gas emissions and planned improvements to the national power grid. .
Forward-looking statements are necessarily based upon a number of estimates and assumptions; including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; diminishing quantities or grades of reserves; increased costs, delays, suspensions, and technical challenges associated with the construction of capital projects; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges, and disruptions in the maintenance or provision of required infrastructure and information technology systems; changes in national and local government legislation, taxation, controls, or regulations and/or changes in the administration of laws, policies, and practices, expropriation or nationalization of property and political or economic developments in Canada or the Dominican Republic; lack of certainty with respect to foreign legal systems, corruption, and other factors that are inconsistent with the rule of law; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; timing of receipt of, or failure to comply with, necessary permits and approvals; failure to comply with environmental and health and safety laws and regulations; litigation and legal and administrative proceedings; damage to the Barrick’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Barrick’s handling of environmental matters or dealings with community groups, whether true or not; the impact of global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; the impact of inflation; fluctuations in the currency markets; contests over title to properties, particularly title to undeveloped properties, or over access to water, power, and other required infrastructure; employee relations including loss of key employees; business opportunities that may be presented to, or pursued by, the Company; our ability to successfully complete divestitures; risks associated with working with partners in jointly controlled assets; and availability and increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development, and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding, and gold bullion, copper cathode, or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements, and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
Primary Logo
Gold Miners Sign Record Deals Valued At Over $30 Billion This Year -
https://www.btimesonline.com/articles/122880/20191205/barrick-gold-randgold-china-gold-gold-miners-gold-price.htm
Major gold mining companies are set to extend a deal rally after sealing a record $30 billion worth of contracts this year, latest data show.
The deal spree marks the most valuable merger and acquisition binge since gold prices hit their highest peak almost 10 years ago.
Led by top producers Newmont Goldcorp Corp and Barrick Gold Corp, miners are bulking up to replace dwindling reserves and win back investors who, due to disappointing returns, have shunned the industry in recent years.
According to information from Refinitiv Eikon, this year there were 348 transactions valued more than $30.5 billion, including net debt.
That figure is up from last year's $10.8 billion, exceeding a previous $25.7 billion set in 2010, the data show. Gold topped $1,900 per ounce in 2011 and is trading around $1,484 at the moment after hitting a six-year high in September.
Cautious stance
The gold boom in 2011 prompted buyers to spend too much on acquisitions, leading to billions of impairments when prices collapsed in the years thereafter. This time, investors say they are more cautious about buyers.
The premiums associated with recent gold deals are well below those charged in the previous price bubble when the premiums were not rare at 40 percent to 50 percent.
In September, the gold investment group Paulson urged the smaller gold miners to seek zero-premium fusions to eliminate duplication and lower costs.
When it bought Africa's Randgold last year, Barrick paid no premium, while Newmont offered an 18 percent premium when it snapped Goldcorp to create the world's largest gold mining conglomerate.
More deals are likely among mid-tier miners, who are faced with pressure from activist investors to reduce costs and financial constraints, said Peter Grosskopf, chief executive officer of precious metals fund manager Sprott Inc.
Mergers galore
In a whirlwind of acquisitions this week, a $1.9 billion all-stock takeover offer for Africa-focused Centamin Plc was initiated by Canada's Endeavour Mining Corp.
A day ago, China's Zijin Mining Group Co Ltd signed an agreement to procure $1.3 billion in cash from Continental Gold Inc.
Kirkland Lake Gold Ltd. offered a buyout bid for Detour Gold for C$ 4.3 billion in November, while Saracen Mineral Holdings Ltd. took a major share at Barrick Gold in Australia's Super Pit gold mine.
"That pendulum has just begun to swing and it has much more to go," said Grosskopf, referring to more deals.
According to industry sources, among possible targets are Pretium Resources Inc, Pure Gold Mining Inc, Roxgold Inc, and Silvercrest Metals Inc.
Iamgold Inc, a Canadian producer, has also drawn attention from state-backed China Gold International Resources Corp Ltd.
Investment Industry Hall of Fame 2019 Inductee - Eric Sprott
Eric Sprott explains what investors are getting wrong about Kirkland's all-stock Detour Gold deal
'The more I reflect on Detour, I think we’re ‘stealing value’ — value that the market’s not seeing,' Sprott told the Financial Post
GABRIEL FRIEDMAN Updated: November 25, 2019
A Detour Gold mine in Cochrane, Ont. HANDOUT/TIMMINS DAILY PRESS FILES
Toronto-based Kirkland Lake Gold Ltd. on Monday announced a
multibillion dollar acquisition of Detour Gold Corp., a deal
that would elevate it into a major gold miner and
could attract new institutional investors.
The combination marries two near opposites:
Kirkland Lake operates two high grade underground mines
at some of the lowest cash costs in the sector,
whereas Detour operates a single, low grade bulk tonnage
open pit mine at comparatively higher costs.
https://calgaryherald.com/commodities/mining/eric-sprott-explains-what-investors-are-getting-wrong-about-kirklands-all-stock-detour-gold-deal/wcm/f9adea35-e43d-4398-b519-535342a012ac
In GOD We Trust -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
Barrick reaches agreement to sell its share of Australian Super-pit for $750M -
T.ABX | 16 hours ago
All amounts expressed in U.S. dollars
TORONTO, Nov. 17, 2019 (GLOBE NEWSWIRE) --
Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced it has reached an agreement to sell its 50 percent interest in Kalgoorlie Consolidated Gold Mines ("KCGM") in Western Australia to Saracen Mineral Holdings Limited (“Saracen”) for a total consideration of $750 million in cash.
"The sale of our non-operating interest in KCGM represents the first step in our plan to realize in excess of $1.5 billion from the disposal of non-core assets by the end of next year.
While this iconic gold mine has been a valuable contributor to Barrick over the years, the asset does not fit with our strategy of operating mines that we own.
The sale allows us to further focus our portfolio on core operations," says Mark Bristow, Barrick president and chief executive officer.
Bristow said Barrick was pleased to have achieved a successful outcome following a competitive sale process and was confident that Saracen would be an excellent partner at KCGM going forward.
Proceeds from the sale will be used to further strengthen the balance sheet, invest in our future and support our commitment to deliver returns to our shareholders.
The transaction is expected to be completed in the fourth quarter of 2019 and is subject to customary closing conditions.
Saracen is an ASX200 listed gold company with two gold operations in the Kalgoorlie region of Western Australia.
Credit Suisse Securities (Canada), Inc. is acting as financial adviser to Barrick.
Davies Ward Phillips & Vineberg LLP and Herbert Smith Freehills LLP are acting as legal counsel to Barrick.
Enquiries:
Mark Bristow
President and CEO
+1 647 205 7694
+44 788 071 1386 Kevin Thomson
Senior executive vice-president, strategic matters
+1 416 307-5150 Kathy du Plessis
Investor and Media Relations
+44 20 7557 7738
barrick@dpapr.com
Website:
http://www.barrick.com
Cautionary Statement on Forward-Looking Information
Certain information contained in this press release, including any information as to Barrick’s strategy, plans, or future financial or operating performance, constitutes “forward-looking statements”. All statements, other than statements of historical fact, are forward-looking statements. The words “plan”, “would”, “expected”, “will”, and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: timing for completion of the transaction with Saracen and the expected use of proceeds to invest in Barrick’s business; and dispositions of additional non-core assets and potential proceeds from any such transactions.
Forward-looking statements are necessarily based upon a number of estimates and assumptions; including material estimates and assumptions related to the factors set forth below that, while considered reasonable by Barrick as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper, or certain other commodities (such as silver, diesel fuel, natural gas, and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation, and exploration successes; diminishing quantities or grades of reserves; increased costs, delays, suspensions, and technical challenges associated with the construction of capital projects; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges, and disruptions in the maintenance or provision of required infrastructure and information technology systems; changes in national and local government legislation, taxation, controls, or regulations and/or changes in the administration of laws, policies, and practices, expropriation or nationalization of property and political or economic developments in Canada, the United States or Australia; lack of certainty with respect to foreign legal systems, corruption, and other factors that are inconsistent with the rule of law; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; timing of receipt of, or failure to comply with, necessary permits and approvals; failure to comply with environmental and health and safety laws and regulations; litigation and legal and administrative proceedings; damage to the Barrick’s reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Barrick’s handling of environmental matters or dealings with community groups, whether true or not; the impact of global liquidity and credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; the impact of inflation; fluctuations in the currency markets; contests over title to properties, particularly title to undeveloped properties, or over access to water, power, and other required infrastructure; employee relations including loss of key employees; business opportunities that may be presented to, or pursued by, the Company; our ability to successfully complete divestitures; risks associated with working with partners in jointly controlled assets; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; and availability and increased costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development, and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding, and gold bullion, copper cathode, or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).
Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements, and the risks that may affect Barrick’s ability to achieve the expectations set forth in the forward-looking statements contained in this press release.
Barrick disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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November 17, 2019 - 2:37 PM PST
Tags:
GOLD INDUSTRIAL METALS & MINERALS
The South Arturo Mine is a joint venture between Premier and
The South Arturo Mine is a joint venture between Premier and
Nevada Gold Mines LLC, a joint venture between
Newmont-Goldcorp and Barrick Gold Exploration Inc.
("Barrick") operated by Barrick -
Mine at Gold Producer's JV Project in Nevada Commercially Producing
Streetwise Reports
Observations from a recent site visit there are provided in a BMO
Capital Markets report.
1.jpg
In an Oct. 22 research note, BMO Capital Markets analyst Andrew
Mikitchook reported the main takeaways from a site visit to
Premier Gold Mines Ltd.'s (PG:TSX) South Arturo joint venture project
with Nevada Gold Mines.
The primary highlight, Mikitchook indicated, is that
the El Niño mine at South Arturo in Nevada is now in
commercial production, which began in September.
Further, mine output could reach 30,000 ounces in 2019, which would
surpass the previous expectation of 21,000 ounces.
Of note as well, the analyst wrote, is that "El Niño has
extra capacity to mine existing reserves faster or to extend
the mine plan to depth toward additional resources and
new exploration intercepts."
In addition, the potential exists via exploration to expand the
mineralization not only at El Niño but also at
Phase 3 and East Dee.
As for work in progress at the South Arturo property, noted
Mikitchook, testing by five autonomous trucks at
Phase 1's prestrip is scheduled to be completed by year-end 2019.
Also, the joint venture is constructing and evaluating an
oxide heap leach at Phase 1
as a standalone development at South Arturo or
for processing at the North Area.
Further, geological and metallurgical studies are being conducted on
Phase 3 to inform the decision on whether or not to add
the Phase 3 pit to the reserves and mine plan.
BMO has an Outperform rating and a CA$4.75 per share target price on
Premier Gold.
The stock is currently trading at around CA$1.95 per share.
Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
Disclosures from BMO Capital Markets, Premier Gold, October 22, 2019
IMPORTANT DISCLOSURES
Analyst's Certification
I, Andrew Mikitchook, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Analysts who prepared this report are compensated based upon (among other factors) the overall profitability of BMO Capital Markets and their affiliates, which includes the overall profitability of investment banking services. Compensation for research is based on effectiveness in generating new ideas and in communication of ideas to clients, performance of recommendations, accuracy of earnings estimates, and service to clients.
Disclosure 16: A research analyst has extensively viewed the material operations of Premier Gold.
Disclosure 17: Premier Gold has paid or reimbursed some or all of the research analyst's travel expenses.
For Important Disclosures on the stocks discussed in this report, please click here.
Tags: INDUSTRIAL METALS & MINERALS
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Read more at https://stockhouse.com/opinion/independent-reports/2019/10/29/mine-gold-producer-s-jv-project-nevada-commercially-producing#jy7QOJk6H9QGwoSf.99
Mine at Gold Producer's JV Project in Nevada Commercially Producing
Streetwise Reports
Observations from a recent site visit there are provided in a BMO
Capital Markets report.
1.jpg
In an Oct. 22 research note, BMO Capital Markets analyst Andrew
Mikitchook reported the main takeaways from a site visit to
Premier Gold Mines Ltd.'s (PG:TSX) South Arturo joint venture project
with Nevada Gold Mines.
The primary highlight, Mikitchook indicated, is that
the El Niño mine at South Arturo in Nevada is now in
commercial production, which began in September.
Further, mine output could reach 30,000 ounces in 2019, which would
surpass the previous expectation of 21,000 ounces.
Of note as well, the analyst wrote, is that "El Niño has
extra capacity to mine existing reserves faster or to extend
the mine plan to depth toward additional resources and
new exploration intercepts."
In addition, the potential exists via exploration to expand the
mineralization not only at El Niño but also at
Phase 3 and East Dee.
As for work in progress at the South Arturo property, noted
Mikitchook, testing by five autonomous trucks at
Phase 1's prestrip is scheduled to be completed by year-end 2019.
Also, the joint venture is constructing and evaluating an
oxide heap leach at Phase 1
as a standalone development at South Arturo or
for processing at the North Area.
Further, geological and metallurgical studies are being conducted on
Phase 3 to inform the decision on whether or not to add
the Phase 3 pit to the reserves and mine plan.
BMO has an Outperform rating and a CA$4.75 per share target price on
Premier Gold.
The stock is currently trading at around CA$1.95 per share.
Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.
Disclosures from BMO Capital Markets, Premier Gold, October 22, 2019
IMPORTANT DISCLOSURES
Analyst's Certification
I, Andrew Mikitchook, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Analysts who prepared this report are compensated based upon (among other factors) the overall profitability of BMO Capital Markets and their affiliates, which includes the overall profitability of investment banking services. Compensation for research is based on effectiveness in generating new ideas and in communication of ideas to clients, performance of recommendations, accuracy of earnings estimates, and service to clients.
Disclosure 16: A research analyst has extensively viewed the material operations of Premier Gold.
Disclosure 17: Premier Gold has paid or reimbursed some or all of the research analyst's travel expenses.
For Important Disclosures on the stocks discussed in this report, please click here.
Tags: INDUSTRIAL METALS & MINERALS
0
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Comments
No comments yet. Be first to comment!
Leave a Comment
Read more at https://stockhouse.com/opinion/independent-reports/2019/10/29/mine-gold-producer-s-jv-project-nevada-commercially-producing#jy7QOJk6H9QGwoSf.99
Gold rush ahead? Price may surge to Rs 42,000 by Dec-end,
say analysts
The yellow metal is likely to continue to remain bullish till
the end of the year mostly due to sustained Central bank buying,
geo-political uncertainties -
Press Trust of India | Mumbai
Last Updated at October 29, 2019 00:31 IST
https://www.business-standard.com/article/markets/gold-rush-ahead-price-may-surge-to-rs-42-000-by-dec-end-say-analysts-119102900010_1.html
(btw. - this fundamental side of one of the biggest POG buyers.)
nowwhat2,
This might now be happening.....2am pacific (on the POG technical side)
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151965783
nowwhat2 thank you, RE: Investors Start Cringing At Prospect(s) Of Gold Crash -
yes, most news paper and Tv media channels owned by NWO banks owners etc.
they don't like gold to go up for NWO want it all for less -
The South Arturo Mine is a joint venture between Premier and
Nevada Gold Mines LLC, a joint venture between
Newmont-Goldcorp and Barrick Gold Exploration Inc.
("Barrick") operated by Barrick -
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151951609
have a great day
Join Greg Hunter as he goes One-on-One with Egon von Greyerz,
founder of Matterhorn Asset Management, which can be found on
www.GoldSwitzerland.com
https://www.youtube.com/watch?v=vKvsqPOOX7M
This might now be happening.....2am pacific
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151965783
Or wait - No - Here I got the arrows pointed different....
Attacks On Gold/Silver Are Losing Their Impact
By Stefan GleasonCommodities3 hours ago (Oct 28, 2019 11:48AM ET)
https://www.investing.com/analysis/gatas-powell-attacks-on-goldsilver-are-losing-their-impact-200478888
nowwhat2 thank you, RE: Investors Start Cringing At Prospect(s) Of Gold Crash -
yes, most news paper and Tv media channels owned by NWO banks owners etc.
they don't like gold to go up for NWO want it all for less -
The South Arturo Mine is a joint venture between Premier and
Nevada Gold Mines LLC, a joint venture between
Newmont-Goldcorp and Barrick Gold Exploration Inc.
("Barrick") operated by Barrick -
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151951609
have a great day
God Bless
Wo - Nice information dude - Thanks for your effort(s)
Nice intercepts there huh ?
However MY newspaper this morning reads :
News Flash : (headlines read)
Investors Start Cringing At Prospect(s) Of Gold Crash
The South Arturo Mine is a joint venture between Premier and
Nevada Gold Mines LLC, a joint venture between
Newmont-Goldcorp and Barrick Gold Exploration Inc.
("Barrick") operated by Barrick -
Premier Provides South Arturo Mine Update - Declares Commercial Production
Canada NewsWire
THUNDER BAY, ON, Oct. 28, 2019
Drilling Intersects 112.8 m of 7.29 g/t Au at Phase 3 and 24.4 m of 20.60 g/t Au at El Niño
THUNDER BAY, ON, Oct. 28, 2019 /CNW/ -
PREMIER GOLD MINES LIMITED (TSX: PG) (OTCPK: PIRGF) ("Premier",
"the Company") is pleased to announce commercial production has been
achieved, ahead of schedule, at the El Niño underground mine, the
Company's 40%-owned South Arturo Property located in the Carlin Trend of
Nevada.
Also, new definition and step-out drilling results from the ongoing
2019 campaign are showing better outcomes than projected.
Initial production supports this and emphasizes the continued
opportunity to expand high-grade mineralization on the property.
The South Arturo Mine is a joint venture between Premier and
Nevada Gold Mines LLC, a joint venture between
Newmont-Goldcorp and Barrick Gold Exploration Inc.
("Barrick") operated by Barrick.
Highlight intercepts include:
https://web.tmxmoney.com/article.php?newsid=4635557330281273&qm_symbol=PG
Gold sector is on major buy signal -
GLD is on short-term buy signal -
GDX is on short-term buy signal -
GDXJ is on short-term buy signal -
Analysis
$GOLD a technical bullish cup signal -
Between gold and gold stocks has a text book perfect buy signal -
$HUI breakout start from the multi-week consolidation -
If the current situation results in a similar fashion as 2016 -
looking at a 30 to 40% rally in coming weeks - *~<)
Summary
Long-term – on major buy signal -
Short-term – on mixed signals -
Gold sector cycle is down, a multi week consolidation/correction
is in progress but may have ended this week -
Traders holding a core position for the long-term, and will become more
bullish invested upon the cycle turning UP -
IMO!
Eric Sprott is a precious metals billionaire and mentions the potential
in silvers price to boom as well as explaining why! Link to the ...
Preliminary Third Quarter Results Show 2019 Targets Well Within Range
News Provided by GlobeNewswire2019-10-17 -
http://crweworld.com/article/news-provided-by-globenewswire/1277475/preliminary-third-quarter-results-show-2019-targets-well-within-range
Bank Gold Price Manipulation Continues -
Craig Hemke
October 4, 2019
1
You didn't actually think that a couple of indictments were going to change things, did you? By now you must understand that The Banks will continue to manage and rig prices until the time comes that it is no longer profitable for them to do so.
In case you need a summary of recent events, please take time to review these three links:
• https://www.cnbc.com/2019/08/20/another-ex-jp-morg...
• https://www.nbcnews.com/news/us-news/justice-depar...
• https://www.zerohedge.com/markets/abject-corruptio...
What was once dismissed as "conspiracy theory" is instead becoming widely understood as "historical fact." Yes, the market-making Bullion Banks seek to manage price for their benefit, and yes, gold price management dates back to the 1950s. However—and despite the recent indictments—these illegal schemes continue to this day.
Case in point? Last week.
As you know, the price of COMEX Digital Gold has rallied from a low of $1280 on May 28 to a high of $1565 on September 4. Why? As global economies slowed, global central banks began to reverse policies and head toward lower/negative rates and renewed quantitative easing. This reality created a surge of demand for gold in all its forms, one of which is futures contracts on the COMEX.
As of May 30, the total amount of gold futures contracts on COMEX (total open interest) was just 443,231 for 44,323,100 ounces of "digital gold." By now you should be familiar with The Bullion Bank strategy of increasing the total float (supply) of contracts in order to meet increasing demand in a rising market. If you don't understand this dirty trick, then please take time to read this seminal piece from 2017: https://www.tfmetalsreport.com/blog/8252/econ-101-silver-market-manipulation
Thus, it should be no surprise that by the time price peaked at $1565 on September 4, total contract supply also peaked at 643,563 or 64,356,500 digital ounces. This is an increase of slightly more than 200,000 contracts in three months...just over 45%! No new physical ounces were added to the COMEX vaults over this time. Instead, these new contracts were created by The Banks. These Banks took the short side and offered them to Specs looking for "gold exposure" and taking the long side.
Over time and with the 15% rally in price, The Banks began to experience some rather hefty potential losses, and at this point, anyone who has followed the precious metals for any length of time should have expected the eventuality that followed.
First, the global bond market began a correction in early September. Bond prices had also seen a tremendous rally in 2019 and were due for some profit-taking. Since COMEX gold and global bonds had been moving in tandem all summer, it was logical to expect a correction in gold, and it soon came to pass with prices falling from $1565 to $1492 in less than five days.
However, the global bond market began to recover in mid-September, and COMEX Digital Gold prices stabilized, too. What happened next is what finally drove The Banks to take direct, overt action.
Early last week, gold and silver prices began to stage a sharp, comeback rally. COMEX silver bounced all the way to $18.70 while COMEX gold traded back to $1540. Keep that level in mind... $1540.
As COMEX gold prices rallied on economic and impeachment concerns, The Banks went into hyperdrive in contract creation. Over just four days, The Banks increased the total float of COMEX gold contracts by nearly 5%, from 628,464 on September 18 to a NEW ALL-TIME HIGH of 658,944 on September 24. Why the sudden need to exceed the previous all-time highs from July 2016? In order to paint the chart with a head-and-shoulder top in the hope of inspiring the type of consistent, relentless selling that would bring a sharp selloff. The Specs sell their gold exposure, The Banks buy back and cover their shorts, pain and margin pressure is eased, and total open interest declines. It looks like this:
• On September 18, total OI was 628,464 contracts with price at $1515
• Four days later on September 24, to cap price at $1540, OI was moved to an all-time high at 658,944
• Four more days later, after price was smashed for $67, OI is back to 610,343 on September 30
And you can see this on the charts. Last Tuesday the 24th, price was obviously and clearly capped at $1540. The immediate reversals seen on the chart below reveal the deployment of the 11,600 contracts created that day alone by The Banks.
At the time, we quickly caught on to their intent. Here's the daily chart from that same day:
And now, after frightening the Specs into selling and closing nearly 50,000 COMEX gold contracts in just four days, the chart has been painted with that head-and-shoulder top that The Banks hope will inspire even more Spec selling in the days ahead.
So, anyway, if you want to bury your head in the sand, ignore the evidence and indictments, and claim that all you've just read is nonsense and "conspiracy theory," knock yourself out. A wise man once said, “it’s impossible to save someone who doesn’t want to be saved.” Indeed. All I can do is explain to you how these "markets" actually operate and remind you that the manipulation remains ongoing and active. You can take it from there.
One day, The Banks will either voluntarily or involuntarily leave this business and prices will be allowed to find a true equilibrium between physical metal and fiat currency. In the meantime, you must understand that the greedy, criminal, COMEX market-making Banks will continue to fight us every step of the way...regardless of whether a few of their trading Monkeys are indicted/incarcerated.
********
1
Craig Hemke
Our Ask The Expert interviewer Craig Hemke began his career in financial services in 1990 but retired in 2008 to focus on family and entrepreneurial opportunities. Since 2010, he has been the editor and publisher of the TF Metals Report found at TFMetalsReport.com, an online community for precious metal investors.
Egon von Greyerz - Compared to Gold Assets Will Fall 95%
65,052 views•Sep 24, 2019
Greg Hunter
228K subscribers
This from 2mo ago (it had not even hit $26.50 yet)
Why the upspike seen today ?.....From 22.50 to 24.00 ?.....
Answer = Silvers' $18 bucks......Currently 17.83 (not good)
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=151187550
Barrick uncovers gold discovery hole in Northern Nevada
(Barrick Gold Facebook)(Barrick Gold Facebook)
By Bailey Schulz Las Vegas Review-Journal
September 17, 2019 - 7:15 pm
Don't miss the big stories. Like us on Facebook.
Barrick Gold Corp. has uncovered a new discovery hole near its Fourmile project in Northern Nevada, a sign of the potential for more high-value discoveries in the region, the company’s chief executive said.
The hole points to the delivery of at least one more Tier One gold mine through the combination of Fourmile with the nearby Goldrush development project, according to a Tuesday press release. Mineralization is open in all directions, and Barrick Gold expects “significant resource growth” from continuing the step-out drilling program.
Mark Bristow, the company’s president and chief executive, said diligent exploration and detailed geological modeling had led to effective targeting at Fourmile.
“Discovery is fundamental to value creation and the latest results from Fourmile confirm the potential for further high-value discoveries in the greater Cortez – Carlin region which has been a prolific source of gold discovery and production for 150 years, and still holds an untapped wealth of geological endowment,” Bristow said in the statement.
In March, Barrick agreed to merge its assets with Newmont Mining Corp. to create the world’s largest precious metal mining operation. Fourmile was not included in the merger, but the statement from Barrick said it has the right to bring the project into the joint venture “for full market value provided certain agreed investment criteria are met.”
Bristow added that the company is on track to achieve its targets for 2019.
“Production is trending towards the top end of the 5.1 to 5.6-million-ounce guidance range while costs are likely to be at the lower end of the cost forecasts,” he said in the statement. “The market is starting to recognize and reward this performance, and it’s worth noting that the Barrick share price has increased by 90% since the Randgold deal announcement a year ago, outstripping the GDX index and the spot gold price by a wide margin.”
Details of Barrick’s five-year plan would be shared with the market when it publishes its third quarter results in November, Bristow said.
“Our aim is to make the Barrick brand synonymous with value creation. That value will be generated by its existing Top Tier operational base of long-life mines, located within world-class geological provinces and run by management teams that can unlock and bring to account opportunities where others have failed,” he said.
Barrick Gold’s stock closed up 5.38 percent on Tuesday, up $0.92 to $18.02.
https://www.reviewjournal.com/business/casinos-gaming/barrick-uncovers-gold-discovery-hole-in-northern-nevada-1850565/
In GOD We Trust -
https://www.kitco.com/images/live/silver.gif?0.8344882022363285
http://www.kitconet.com/images/live/au0001wb.gif
Gold & Silver is the only REAL Legal Tender -
by The Founding Fathers for your -
Rights, Liberty and Freedom -
http://www.biblebelievers.org.au/monie.htm
God Bless America
Ps.
opinion appreciated
TIA
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