Barrick Gold Corp. favors a partnership with rival Newmont Mining Corp. to combine ore processing operations at some gold mines in Nevada. Barrick Chief Executive Officer Mark Bristow said in an interview Wednesday that the two companies haven't yet discussed a joint venture, but “it makes sense to work it out" with Newmont as part of a broader effort to reduce processing costs. Newmont agreed last month to acquire Goldcorp Inc. in a $10 billion all stock deal that will create the world’s largest gold miner. ... … [Read more...] about New Barrick Gold CEO Says Joining With Rival at Some Mines Would Make Sense
Barricks gold stock
Elaine Kurtenbach, Ap Business Writer Updated 7:34 am CDT, Monday, September 24, 2018 A man walks past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Monday, Sept. 24, 2018. Shares have fallen in Asia after China rebuffed a plan for talks with the U.S. on resolving their dispute over trade and technology. Shares fell in Hong Kong, India and Australia, while markets in Japan, South Korea and elsewhere were closed Monday for national holidays. The slow start to the week followed a mixed close Friday on Wall Street, where an afternoon sell-off erased modest gains for the S&P 500 that had the benchmark index on track to eke out its own record high for much of the day. less A man walks past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Monday, Sept. 24, 2018. Shares have fallen in Asia after China rebuffed a plan for talks with the U.S. on ... more … [Read more...] about World stocks fall on reports China-US trade talks put off
All amounts expressed in U.S. dollars unless otherwise indicated /EIN News/ -- TORONTO, Sept. 24, 2018 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (“Barrick” or the “Company”) today announced that it has reached agreement on the terms of a recommended share-for-share merger of Barrick and Randgold Resources Limited (the “Merger”). The Merger will create an industry-leading gold company with the greatest concentration of Tier One Gold Assets1 in the industry, led by a proven management team of owners. Superior operating metrics, including the highest Adjusted EBITDA margin2 and the lowest total cash cost3 position among Senior Gold Peers4, will support sustainable investment in growth and shareholder returns. The Merger is subject to approval by both sets of shareholders, regulatory approvals and other customary closing conditions. It is intended that the Merger will be implemented by means of a court-sanctioned scheme of … [Read more...] about Barrick and Randgold Combine to Create Industry-Leading Gold Investment Vehicle
John Paulson is taking on the gold industry. The billionaire hedgie — known for his well-timed bets against subprime mortgages ahead of the financial crisis — has teamed up with 15 other investors to form the Shareholders’ Gold Council to prod managers of gold companies to produce better returns. Paulson hinted at the formation of an investors’ coalition last year, when he lambasted the high pay of mining chief executives while shareholder returns languished, according to Bloomberg. The price of gold has fallen 9 percent this year to $1,203.30 an ounce — taking the stock value of mining companies down with it. Shares of Barrick Gold are down 28 percent this year, while Detour Gold, which is under activist attack by Paulson’s hedge fund, has seen its stock price plummet 25 percent. The SGC’s “ultimate aim is to promote constructive engagement between the gold mining industry and the investment community,” the group said in a … [Read more...] about John Paulson teams up with investors to start Gold Council
VANCOUVER, British Columbia, Aug. 27, 2018 (GLOBE NEWSWIRE) -- Cameo Cobalt Corp. (TSX Venture: CRU) (OTC: CRUUF) (FWB: SY7N) (the “Company” or “Cameo Cobalt”) is pleased to announce it has entered into a share purchase agreement (the “Share Purchase Agreement”) to acquire Forrest Kerr Resources Inc. (“Forrest”), a privately-held British Columbia corporation which holds the Big Mac gold property, a large and prospective exploration project located in British Columbia's Golden Triangle. The Big Mac Gold Project shares more than 30 kilometres of contiguous claim boundaries on the east and west sides of Aben Resources Ltd.'s Forrest Kerr gold project. The Big Mac Gold Project is also located just north of properties owned by Garibaldi Resources Ltd. and Colorado Resources Ltd. /EIN News/ -- Project Highlights Claims are contiguous with Aben Resources in the Golden Triangle; Positions Cameo Cobalt in the Golden Triangle; Known skarn-style … [Read more...] about Cameo Cobalt to Acquire Big Mac Gold Project in British Columbia’s Golden Triangle; Adjacent to Aben Resources Ltd.