Without volume there is no demand....this company and the bankers involved will need to lower the price to garner their demand...............
These 165 million shares are at lofty levels given this hedging in the gold market...
Are the terms to describe abx............due dilligence by any large players here has to involve the fraud committed at pascua......if you want to be exposed to gold you buy gold and you definitely do not buy this miner.....goldcorp is a solid player and they are down as well.....
AND WILL LOSE IT ALL...........
Committed fraud at pascua....do ya see any kind of correlation?
Sounds good however in reality when you hold barrick you do not hold gold you hold bad management and debt....also, you are holding a company that has bold faced lied about pascua and borrowed over 8 billion internationally to fund this fraud.........but hey its your cash...............
Are about to realize the truth they have been aware of since February....The title fraud at Barrick has emerged and will undoubtedly sink the current shareholders here. This guy munk needs to feel some heat for this fraud he has forced on everyone involved here. This stock should be halted immediately. Get ready.............
If you understand what the real debt to GDP is in China you will understand that the Chinese currency wont be ready for prime time until they crash the entire system and wipe out the trillions in bad debts from the books and the shadow banking system...If you also understand that CB across the globe are fighting a deflationary spiral coming from China the better off you will be...The globe is creating debt faster than revenues..The velocity of money cannot and will not pick up pace in this environment hence the reason you see gold and silver falling and not exploding higher....I have held and will continue to hold PHYSICAL METAL FROM 1999 ON...Very low cost base...I have shorted the miners, gld and slv against the physical starting in 2011...I will remain short ABX and a select few other miners till they prove their worth....Barrick however will be forced into Bankruptcy which could be a turning point for the physical market into much higher levels....Either way Barrick is GOING DOWN HARD AND THE SKUNK MUNK MAY BE FORCED INTO JAIL FOR HIS FRAUD AT PASCUA IF THE OLD FOOL DOESNT DIE FIRST!!!!
Maybe, however ABX is NOT UNDERVALUED!!! Barrick will have 12.5 Billion in debt on the books even after raping the current shareholders for a19% dilution...This death spiral share sale is on top of the 3 billion in debt issued in just April of 2013.....
Barrick will be forced at minimum to remove the Pascua mine from their list of assets...They DO NOT HOLD TITLE TO THESE ASSETS AND HAVE BORROWED CLOSE TO 9 BILLION DOLLARS AGAINST THESE ASSETS AT PASCUA....Re read that again and fully understand what the term FRAUD means.........Barrick will be forced into BK very soon and the shelving is a red flag for anyone who is long this stock...The short interest on this pig is so low that full blown complacency is still evident....Barrick is in some serious trouble here and these troubles will reveal themselves shortly!!!!
Yeah,,,,Thats on top of the 3 Billion form a debt sale in April 2013....Have ya ever wondered where all this cash is going? How bout the fact this company has lied bold face to all Investors in the US and Internationally......This fraud will be shut down...........
YET THEY SOLD MILLIONS OF OUNCES FORWARD OF GOLD AND SILVER...THIS COMPANY NEEDS TO BE SHUT DOWN NOW..
The largest gold mining company in the world, Barrick Gold and its Chilean subsidiary, Nevada Spa Mining, could lose in the coming months the Pascua deposit worth millions after a series of frauds regarding mining property and repeated poor environmental practices. The deposit is known as the Pascua-Lama, with the name Pascua from the Chilean side, and Lama from the Argentine side.
Barrick Gold is accused of illegally extracting gold minerals along with outlawed salt and nitrate concessions. The accusations include mining gold from Chile while ignoring a provisional Supreme Court measure that prohibits mining activity and securing new contracts, conducting business in the international bank with “phony” titles, and trying to obstruct justice using false testimony, among others. The accusations have been presented by Chilean mine owner, Jorge Lopehandía, who along with Mountainstar Gold Inc, were granted legal ownership of the Pascua mine in February.
On February 1, 2013, Alan GS Hultman, the lawyer for Mountainstar Gold Inc, received the Pascua Mine Chile property titles and its mining concessions.
On January 16, the titles were issued in Vallenar, Chile by the Mines Commissioner, Paulo Cortes Olguín. This grants sole legal jurisdiction over the Pascua Mine area concessions and titles, to Lopehandía, who has been threatened and pressured by Barrick Gold to waive his own rights.
The titles were authenticated by the Ministry of Justice and the Ministry of Chilean Exterior Relations and have been validated by the Canadian Embassy in Santiago, Chile. This happened after Barrick tried to invalidate Lopehandía’s actions in Canada several times.
This is a check or almost checkmate for Barrick, because in Chile the only person authorized to grant a valid mining property certificate, or for that matter, who can validate the right [to mining property], is the Mines Commissionar, who in this case is from the the jurisdiction of the city of Vallenar.
The Mines Commissioner established in a legal document that the concessions of the Pascua Project in Chile: Tesoros Uno 1 al 30 through Tesoros Doce 1 al 5 are in Jorge Lopehandía’s name, making him the valid title-holder from 2013 onward.
Thus this advance ruling underscores that Barrick Gold Corporation (ABX), or its affiliates in Chile do not have titles nor have they ever had titles for these concessions.
Secondly, the Commissioner established through the work of Lopehandía’s mining agent, Mr. Villar, that “Amarillos North (12,850 acres) and Amarillos South (8,400 acres) have been Lopehandía’s property since 1996.
Both Lopehandía and Brent Johnson, his partner from Mountainstar Gold Inc, reiterated their confidence in the Chilean justice system, adding that “all the false declarations made by Barrick executives and their affiliates in Chile in relation to these titles, have given way to criminal chrges, and a call for jail sentences against those involved with the case.”
TORONTO (Reuters) -
Barrick Gold Corp said on Monday that it would issue some $3 billion in debt securities to pay down a revolving credit facility, repay principal on notes due in 2013, and for general corporate purposes.
The world's largest gold miner will offer $650 million in 2.5 percent notes due 2018, $1.5 billion in 4.1 percent notes due in 2023, and $850 million in 5.75 percent notes due in 2043. The 2043 notes are guaranteed by the company.
Toronto-based Barrick, which had previously said that it planned to issue long-term debt securities to further improve liquidity, expects the offering to close around May 2, 2013.
The company's total debt stood $14.8 billion as of March 31, according to its first-quarter earnings release.
Barrick has struggled in recent weeks with the sharp fall in gold prices, a shareholder revolt over its executive compensation plan and new setbacks at its flagship Pascua-Lama development project on the border of Chile and Argentina.
The company was downgraded last week by both Moody's and S&P, after a Chilean court ordered a partial suspension of construction at Pascua-Lama
OK...KEEP LOOAADDDIN UP...YOU SOUND LIKE A REAL SMART "INVESTOR"....SWORD OF LIKE THE REAL SMART ONES AT 40,30,20 AND NOW 18 SOON TO BE 10 THEN ULTIMATLEY ZERO!!!!!! KEEP LOADIN UP,,,,,CHEAP PRICES.........
Nothing is "over"...If their cash flows were so strong they wouldn't need to sell 165 MILLION SHARES AT 18...........HOPEFULLY YOU ARENT THAT STUPID..........Only 75 million shares traded today....Most of those shares were PEOPLE WHO WERE FED UP WITH THIS INEPT FRAUDULENT MANAGEMENT...THEY STILL NEED TO FIND BUYERS FOR AT LEAST 125 MILLION SHARES..........................JCPENNEY DEATH SPIRAL IN YOUR FACE....GOLD THE COMMODITY WILL RISE ONCE BARRICK IS FORCED INTO BK AND NOT TILL THEN.....................GOOD LUCK...ILL SEE YA ON MONDAY OHH SMART ONE!!!!!!
What most don't understand is Barrick has sold forward millions of ounces of GOLD AND SILVER to several banks and SLW,RGLD....The banks were more than happy to take those sell forwards however BARRICK NEVER OWNED THE RIGHTS TO THE PROPERTY THEY WERE SELLING FROM....FRAUD.....
They will need to lower the price more and raise the the share count to get the money they need....this ship is like jcpenney.even more debt than jc
if you are long this fraud get out.......THESE SHYSTERS ARE/HAVE COMMITTED FRAUD..PERIOD...SELLING OUNCES FORWARD AT PASCUA...THEY ARE SELLING SHARES IN A DEATH SPIRAL
There are 11 million shares short on a float of over a billion....consider this a huge selling opportunity beofre the wekend.....the lawsuits are just begining....the fraud has been exposed
ON THE HOOK FOR BILLIONS IN LIABILITIES
THEY DONT OWN THAT MINE AND NEVER DID...