% | $
Quotes you view appear here for quick access.

Barrick Gold Corporation Message Board

  • mooseonaplane mooseonaplane May 3, 2011 3:09 PM Flag

    Bonehead Acquisition Of The Century

    Barrick's $7.2 billion purchase of Equinox Minerals will prove to be an extremely ill advised blunder, rivaling even Ken Lewis (BAC) takeover of Countrywide.

    China and the other emerging markets are about to crash, inflation is spiraling out of control. China's housing bubble will make the USA's debacle look tame.

    Oh, and there is the sovereign debt crisis in Europe which remains in the early innings...

    It's going to get ugly and ABX is going to get slammed. I can't think of a more dangerous stock than ABX to own in this environment. Low 30's is a given.

    Not a good idea to have a gambling CEO with a huge ego running the show. This guy is going to get schooled and the stockholders are going to pay a very heavy price for his painful education.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • OMG, panic! Sell Sell Sell!

    • You are right so far...The only people suffering through this mess of a stock price is the shareholders like myself that are now stuck in this stock. It will go up but I do not feel like waiting to 2013 to see a profit when my money could of been making a nice gain elsewhere.

    • This is nonsense, it is negligible with respect to degrading the value of the company and will immediately add to earnings.

      The company will have enough additonal cash flow this year to pay for it all. Heck that had a 1.4 billion cash flow increase in the 1st quarter!

      • 1 Reply to advental
      • There are various angles herein.

        Depletion of cash to benefit insiders involved: True

        Handsome shares-options package for some - shares for others - options for others: more than likely.

        cash flow? mmmm for cash flow, place MINA PASCUA CHILE a USD40 Gold ounce, closed due to low prices, in rpoduction 2000, ABX! perhaps 2003 or with Gold at USD300 per oz as promised in ABX Annuals 2000, 2001, 2002. Or 2006 as per 2003?

        That leaves Copper reserves? that is phoney. With the EQUINOX cash, ABX could have produced twice if not thrice the Copper in Chile, for 2/3 of the money.

        So why deplete ABX? because in the dance of the Billions, there are too many invested at the top, in filing their personal stach before the ship goes down.

        ABX a TITANIC Peter Munk fraud at Mina Pascua iceberg zone...

        EQUINOX a TITANIC irresponsible miner's decision, to leave rich stable Chile - very exploitable mines of Gold Silver & Copper, for EQUINOX?

        Is that a favor due to HOMESTAKE'S pillage by ABX ceding a % of Pascua in free zone deals?

    • Nowadays CEO only take whatever risk to reap the biggest bonus for themselves only. We need to stop the un-ethical attitude starting at ABX. Let's fire the ABX mgmt team as an example to rest of the world.

    • You were warned is going to get much worse, cut your losses.

    • Dont get too caught up in your analysis - commodities do very well in the environment you just described and your going to miss a good entry point on top of it

    • Agreed.

      The need to deplete barrick seems to have reached the point of "desperation to fleece commissions and stock perks per insider after any and all ill acuisitions".

      Thus far.

      Instead of creating thousands of jobs and get 2-3 times that Copper & Gold in Chile, these crooks decided to bankrupt ABX in a sense.

      By ignoring Pascua fraud & buying SUTTON -HOMESTAKE - PLACER to intercept Mina Pascua owner's business with these paryies prior to.

      All to coverup Pascua theft.

      Is EQUINOX a preemtive strike to replace Chile assets in Barrick's books after it gets shutdown or expelled for fraud to Chile & Argentina?

      stay tunned...

17.42-0.97(-5.27%)Aug 30 4:00 PMEDT