Barrick Gold Corporation
Barrick Gold Corporation
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The world’s 2nd largest gold producer Barrick Gold’s Mar 2020 qtr (Q1 20) preliminary gold output has fallen to 1.25Moz from Q4 19’s 1.44Moz and copper to 115Mlbs from 117Mlbs, with sales down to 1.22Moz from 1.413Moz, but copper up to 110Mlbs from 91Mlbs.
Gold major Barrick Gold has signed a definitive $US10M earn-in deal for 70% of TSXV-listed Precipitate Gold’s 100%-owned Pueblo Grande epithermal gold-silver project immediately adjacent to Barrick's world-class Pueblo Viejo gold-silver mine in the Dominican Republic.
The agreement also includes delivery of a PFS within 6-years and Barrick subscribing to a $1M Precipitate private share placement.
Global gold giant Barrick has made a $US1.5M donation and is pondering the uncommon gesture of making voluntary early payments of taxes to support Covid-19 programs in Mali, home of its 80%-owned Loulo and Gounkoto gold mines.
The cash donation includes $0.4M to be spent on additional medical infrastructure regionally and in local communities close to its mines.
Endeavour Mining has launched a mutually agreed, $C1B ($US690.7M), all-share takeover bid for fellow Canadian miner SEMAFO to create the biggest gold producer in Burkina Faso and Ivory Coast.
The amalgamation creates a leading West African gold company with 6 operations, including 4 cornerstone mines, with combined FY/CY2020 year estimated output of 1Moz+, making it bigger than Newmont Goldcorp and Barrick in West Africa.
Endeavour all-share bid for SEMAFO to create the biggest gold producer in Burkina Faso/Ivory Coast
Australian-based hard-rock underground miner Barminco is making its breakthrough into the Canadian market, receiving a letter of intent to provide underground contract mining services at Barrick’s Hemlo gold mine in the Marathon mining district of NW Ontario.
The 3-year contract, worth about $A200M, commences in April covering mine development, production and haulage utilising Barrick’s equipment fleet.
The world’s 2nd largest gold producer Barrick Gold has retained an 11% stake in fellow Canadian Teranga Gold after the Barrick/Senegalese J/V partnership completed the sale of its aggregate 90% of the Massawa Gold Project in Senegal to Teranga for up to $US430M.
Barrick president/CEO Mark Bristow says Teranga is best placed to achieve Massawa’s development as it already owns the nearby Sabodala mine.
Potential for an openpit bulk tonnage development of the Simuku copper-molybdenum-gold project in Papua New Guinea has been heightened by a 90% increase in its inferred JORC mineral resource by 90% to 373.6Mt @ 0.31% Cu, 58.5g/t Mo and 0.05g/t Au.
The project on New Britain island is owned by Australian company Coppermoly, with former JV partner Barrick Gold retaining a nominal 28% interest. Coppermoly may acquire the minority interest for $US4.5M once commercial production starts.
The world’s biggest gold producer Newmont has lifted Dec 2019 year (FY/CY19) net income from continuing operations to $US2.87B from the previous year’s $380M, primarily due to the gains recognized by the formation of the Nevada Gold Mines J/V with Barrick Gold, higher production from the recently acquired Goldcorp assets and higher average realized gold prices.
World gold major Newmont’s recent global acquisitive machinations have taken the company to a $2.87B profit with more expected as the various projects settle in