After alert took a dip, now climbing. ABX 7.5401 0.5001 +7.10 21,367,506 7.54 7.55
Posted On: 07/31/2015 8:33:45 AM
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Posted By: fitzkarz
Re: fitzkarz #4539
Barrick> ABX 7.05 0.00 0.00 38,031 7.00 7.05
Read More: http://investorshangout.com/post/view?id=3086...z3iRO6mVG5
Posted On: 07/31/2015 8:13:25 AM
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Posted By: fitzkarz
Barrick sells 50% of Zaldivar for $1 billion cash
Frik Els | July 30, 2015
PeopleMine
Barrick sells 50% of Zaldivar for $1 billion cash
Top gold miner Barrick Gold on Thursday announced the sale of a 50% stake in its Zaldivar copper mine in Northern Chile to London-listed Antofagasta Plc for a shade over $1 billion in cash.
A number of well-known mining companies including BHP Billiton (ASX:BHP) which operates the nearby Escondida mine, Canada’s Teck Resources (TSX:TCK, NYSE: TCK), Hudbay Minerals (TSX:HBM) and China Molybdenum Co were said to have been in the running and the family-controlled copper miner's bid came as something of surprise.
Antofagasta, which last year produced 705,000 tonnes of copper and 270,000 ounces of gold, and Barrick will operate Zaldivar as a joint venture. The deal is expected to close before the end of the year.
Barrick has off-loaded assets worth $800 million this year including Cowal mine for $550 million in cash and $298 million for its Porgera mine, as it comes to terms with a $13 billion debt load.
Zaldivar, an open-pit, heap-leach mine, produced 222 million pounds of copper in 2014, according to Barrick’s website.
Proven and probable copper reserves from the mine as at Dec. 31, 2014, were 5.56 billion pounds. Production costs last year were US$1.65 a pound and they are increasing as head grades fall.
Barrick Gold Corp (NYSE:ABX, TSE:ABX) was trading up slightly in after hours trade in New York on the news following a 2.7% decline during regular trading.
Barrick's market value has decline 45% just over the last three months and is now worth $8.4 billion in New York.
That compares to a $64 billion capitalization when gold was at $1,900 in 2011. Barrick's gold production is expected to fall to between 6.2m – 6.5m ounces as it disposes of underperforming assets.
Read More: http://investorshangout.com/post/view?id=3086...z3iRNf5HGY
Posted On: 07/31/2015 8:33:45 AM
Avatar
Posted By: fitzkarz
Re: fitzkarz #4539
Barrick> ABX 7.05 0.00 0.00 38,031 7.00 7.05
Read More: http://investorshangout.com/post/view?id=3086...z3iRO6mVG5
Posted On: 07/31/2015 8:13:25 AM
Avatar
Posted By: fitzkarz
Barrick sells 50% of Zaldivar for $1 billion cash
Frik Els | July 30, 2015
PeopleMine
Barrick sells 50% of Zaldivar for $1 billion cash
Top gold miner Barrick Gold on Thursday announced the sale of a 50% stake in its Zaldivar copper mine in Northern Chile to London-listed Antofagasta Plc for a shade over $1 billion in cash.
A number of well-known mining companies including BHP Billiton (ASX:BHP) which operates the nearby Escondida mine, Canada’s Teck Resources (TSX:TCK, NYSE: TCK), Hudbay Minerals (TSX:HBM) and China Molybdenum Co were said to have been in the running and the family-controlled copper miner's bid came as something of surprise.
Antofagasta, which last year produced 705,000 tonnes of copper and 270,000 ounces of gold, and Barrick will operate Zaldivar as a joint venture. The deal is expected to close before the end of the year.
Barrick has off-loaded assets worth $800 million this year including Cowal mine for $550 million in cash and $298 million for its Porgera mine, as it comes to terms with a $13 billion debt load.
Zaldivar, an open-pit, heap-leach mine, produced 222 million pounds of copper in 2014, according to Barrick’s website.
Proven and probable copper reserves from the mine as at Dec. 31, 2014, were 5.56 billion pounds. Production costs last year were US$1.65 a pound and they are increasing as head grades fall.
Barrick Gold Corp (NYSE:ABX, TSE:ABX) was trading up slightly in after hours trade in New York on the news following a 2.7% decline during regular trading.
Barrick's market value has decline 45% just over the last three months and is now worth $8.4 billion in New York.
That compares to a $64 billion capitalization when gold was at $1,900 in 2011. Barrick's gold production is expected to fall to between 6.2m – 6.5m ounces as it disposes of underperforming assets.
Read More: http://investorshangout.com/post/view?id=3086...z3iRNf5HGY
I'm in it to win it!
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
