Highest debt overload of all the major miners.
Sold off or wrote off half their assets, debt will still be $9 Billion after sales.
Cut the dividend to 2 cents. You can wipe your #$%$ with the dividend receipts.
ABX is being run by grocery clerks sent by central Banksters.
Not an ounce of Mining experience in the whole bloody lot of
them. Crooked Banksters are using ABX as their piggy bank to
suppress the price of Gold in the West, and transfer it for cheap
to commnist China.
A shake-up (shakedown?) at ABX marks a total takeover by Banksters, with Jim Gowans retiring as senior executive. The changes leave a void at Barrick, as Gowans was the only member in the senior ranks with experience in running mines, The remaining upper escargot execs don't know their axe from a mining hole in the ground.
Lost hundreds of thousands on this consistent Loser, while upper escargot mangement have skimmed off $Billions to their offshore accounts. This is not a mining company, it is a bottomless pit, where you throw your hard earned money, never to be seen again.
Three of the Big Five most crookedest Banks in the World. Only ones missing are J.P. Morphine, and Douche Bank. They would probably give ABX a double digit rating also, because they aren't done robbing the shareholders of all their working capital, before they call in their loans. Anyone who believes these ANALysts deserves to lose all their money. These same dudes said ABX was a buy at $24/shr, then downgraded AFTER it fell to $12.
Way to go Boyz, that's what smart Banksters do.
Barrick selling off Trucks, Generators, mining equipment, basically anything not bolted down, at a loss from their Pascua Lama project to make Debt payments. Doesn't sound like they will be mining there anytime soon, if ever. Although the $8.5 Billion shareholder's "investment" was written off as a Paper Loss in 2014, the $8.5 Billion dollar debt incurred and owed to creditors and banks did not go away.
Barrick selling Trucks and generators from the Pascua mine - anything not bolted down, at a great loss. Doesn't look like they'll be opening this endless money pit again soon, if ever.
They cut the dividend to pad their own bonuses, and expect the shareholder's to jump for joy?
More like cut dividend to pad the Fat Cat executive bonuses for reaching 90% of their Goldman Sasks goal of selling off half of the company's assets. These bozos couldn'r find their buts with both hands.
Didn't see that coming, now, did we?
ABX also trading away 75% of the Silver Stream from Dominican mine for a quick cash payday loan from Royal Gold. This co. is like a zombie loosing limbs as pieces of its rotting flesh fall off.
Sorry about the dated analogy, but Hilly just opened up the Clinton joke bag again, when she announced her bid for candidate. Let's put it another way: Good mining people are leaving ABX like Rats leaving a burning boat.
This evil co. will never see double digits again.
Enron did also.
The fulltime workers running the huge file shredders mysteriously "disappeared."
Funny, but I can't seem to pull up their stock ticker.
At this point, Bankruptcy would be their best option financially, but because the egomaniac clowns "running" this circus are only interested in preservation of their huge salaries and bonuses, they will milk this dying cow dry until it is a bag of skin and bones. Just look at a 20 year history of how the company operates: take shareholder's "investment" capital, pay themselves huge bonuses, post a loss, stock price goes down. Rinse and repeat.
Bought this schitty stock several years ago at $32/shr when Barrick execs said they would be producing $0/oz Gold from Pascua Lama after using Silver byproduct to cover mining costs. They Lied. Future silver streams had already been sold to Silver Wheaton, and the money had already been blown. You cannot trust this dishonest company one bit. They are liars and cheats, IMO.
Since Thornton got his $12 Million "sign-on" bonus, ABX shareholders have lost $8.5 Billion in stock value.
Since Thornton received his $12 Million "sign-on" Bonus, ABX shareholders have lost $8.5 Billion in shareholder value.