GOLD - Barrick Gold Corporation

NYSE - Nasdaq Real Time Price. Currency in USD
16.10
+0.50 (+3.21%)
As of 2:20PM EDT. Market open.
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Previous Close15.60
Open15.72
Bid16.09 x 1800
Ask16.10 x 21500
Day's Range15.67 - 16.16
52 Week Range9.53 - 16.16
Volume18,163,471
Avg. Volume13,693,687
Market Cap27.855B
Beta (3Y Monthly)-0.62
PE Ratio (TTM)N/A
EPS (TTM)-1.22
Earnings DateN/A
Forward Dividend & Yield0.16 (1.03%)
Ex-Dividend Date2019-05-30
1y Target Est14.20
Trade prices are not sourced from all markets
  • Reuters4 hours ago

    UPDATE 1-Acacia Mining says Barrick offer undervalues the company

    Acacia Mining on Monday strongly disagreed with majority shareholder Barrick Gold Corp's valuation of the company, saying Barrick's proposal undervalued its life of mine plans and appears to have ignored the value of its exploration and development assets. Barrick's proposal to take full control of its African unit to resolve a long-standing tax dispute with Tanzania has drawn the ire of Acacia's minority shareholders, who may have the ultimate vote on a deal. Toronto-based Barrick's May 21 share-for-share proposal valued Acacia at $979 million as of Friday's close, versus $787 million when it first proposed the deal, thanks to a 27% jump in Barrick shares.

  • Acacia Mining says Barrick offer undervalues the company
    Reuters5 hours ago

    Acacia Mining says Barrick offer undervalues the company

    Barrick's proposal to take full control of its African unit to resolve a long-standing tax dispute with Tanzania has drawn the ire of Acacia's minority shareholders, who may have the ultimate vote on a deal. Toronto-based Barrick's May 21 share-for-share proposal valued Acacia at $979 million as of Friday's close, versus $787 million when it first proposed the deal, thanks to a 27% jump in Barrick shares.

  • Reuters5 hours ago

    Acacia dismisses Barrick's view on miner's value

    Acacia Mining said on Monday it strongly disagreed with majority shareholder Barrick Gold Corp's valuation of the company, saying it rejected Barrick's view of its life of mine plans. Barrick's proposal to take full control of its African unit to resolve a long-standing tax dispute with Tanzania has drawn the ire of Acacia's minority shareholders, who may have the ultimate vote on a deal. Toronto-based Barrick's May 21 share-for-share proposal valued Acacia at $787 million.

  • Acacia Fires Off 5,000-Word Rebuttal to Barrick Gold’s Claims
    Bloomberg9 hours ago

    Acacia Fires Off 5,000-Word Rebuttal to Barrick Gold’s Claims

    (Bloomberg) -- Barrick Gold Corp.’s troubled African unit, Acacia Mining Plc, posted an almost 5,000 word rebuttal to claims from its parent amid an increasingly bitter spat between the two companies.Barrick is seeking to buy out the remaining shares it doesn’t own in Acacia to end its troubled time as a listed company. Yet Barrick is refusing to offer any kind of premium and is also in control of negotiations with Tanzania, where Acacia has been in a dispute with the government.Acacia said on Monday that Barrick buying out its minority shareholders would be an attractive solution, but it disagrees with the valuation of its stock. It also said many of its problems with Tanzania, which have led to the collapse of its share price, were made worse by Barrick’s intervention in negotiations.Two years ago, Tanzania handed Acacia an export ban and a $190 billion tax bill, saying it falsely declared bullion sales abroad. Since then, the miner’s position in the East African country has deteriorated further. Barrick stepped in to lead talks in a process that has seen Acacia frozen out.“Acacia believes that Barrick’s intervention in Acacia’s negotiations with the government of Tanzania, the length of time Barrick’s negotiations with the government of Tanzania have taken and the way they have managed their direct negotiations, have had the effect of undermining Acacia in Tanzania,” the company said in the statement.Barrick said in a statement last Tuesday it received a three-week extension to make a formal offer to minority shareholders for the roughly 36% stake in Acacia it doesn’t already own. Barrick Chief Executive Officer Mark Bristow said in an interview last week that the company didn’t plan to improve its offer for Acacia.Different ViewsAcacia also said it disagreed with Barrick’s comments on its assets and how long they can be mined for.“In the Barrick announcement, it was suggested that certain adjustments should be made to Acacia’s life-of-mine plans to reflect significant risks inherent in Acacia’s operations,” Acacia said. “The company strongly disagrees with these views and is unclear on how Barrick can substantiate its proposed adjustments.”To contact the reporter on this story: Thomas Biesheuvel in London at tbiesheuvel@bloomberg.netTo contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, Dylan Griffiths, Liezel HillFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times15 hours ago

    Acacia hits back at Barrick

    Acacia Mining has hit back against Barrick Gold, accusing its biggest shareholder of trying to take advantage of problems it has helped inflame to buy the company at a knockdown price. In an increasingly bitter takeover battle, the London listed company said Barrick’s decision to try and unilaterally solve a tax dispute in Tanzania had only served to weaken its position. “Further, Acacia believes the perception that Acacia has been the roadblock to the settlement has led to a material deterioration of Acacia’s operating position in Tanzania,” it added.

  • Barrons.com3 days ago

    Gold Is Surging. How to Play It With ETFs.

    Gold prices have shot up 6.7% in June, and could be getting ready to head higher. Exchange-traded funds offer an easy way to bet on rising gold prices.

  • Barrick Gold (GOLD) Looks Good: Stock Adds 5.7% in Session
    Zacks3 days ago

    Barrick Gold (GOLD) Looks Good: Stock Adds 5.7% in Session

    Barrick Gold (GOLD) saw a big move last session, as its shares jumped nearly 6% on the day, amid huge volumes.

  • Ignored by Big Banks, Smaller Gold Miners Are Paying More to Expand
    Bloomberg4 days ago

    Ignored by Big Banks, Smaller Gold Miners Are Paying More to Expand

    (Bloomberg) -- The cost of money is rising for small and mid-sized gold miners.Newmont Goldcorp Corp. and Barrick Gold Corp., the biggest producers, have grown even bigger by buying up peers, shaping themselves as strong candidates for commercial bank lending. Meanwhile, smaller companies struggling to meet deadlines and budgets on new projects are increasingly forced to turn to private equity to expand.In some ways that’s good. Private financing often offers smaller miners more insight on projects than a commercial bank might. At the same time, private capital is harder to land and higher priced, with an average weighted cost of roughly 15%-20% compared with 5%-6% for the majors, according to Sprott Inc., a precious metals-focused money manager.“Private equity money tends to be expensive,” said Douglas Silver, a portfolio manager at Orion Mine Finance. “But where else are they going to get the money? It’s expensive to mine these days.”Small gold companies, which are usually mineral explorers and mine developers, have little to no revenue, while miners are considered mid-sized when they produce less than 1 million ounces a year. In contrast, Barrick, which closed on its acquisition of Randgold Resources Ltd. on Jan. 1, produced 1.4 million ounces in just the first quarter of 2019.While future growth prospects can entice equity investors, debt investors’ primary concern is whether a company can produce enough cash to make good on their obligations. The smallest companies often produce little or no steady revenue as evidence of their value.Despite a recent price breakout to a roughly five-year high, gold prices are still down about 28% below their peak earlier this decade, making mine development a tough sell. “Large banks aren’t willing to lend debt to companies that don’t have revenue,” said Andrew Kaip, an equity analyst at BMO Capital Markets.Smaller miners are “having a very difficult time finding sources of capital," Kaip said in an interview. “That’s where private equity comes in.”Growing GapPeter Grosskopf, Sprott’s chief executive officer, said last month that the gap between the biggest producers and everyone else is sitting at its widest ever. "Based on all my experience, there has never been a greater divergence," Grosskopf said at the Mines and Money Conference in New York.“In the asset management business, everything is based on what you can index and what you can put in diversified portfolios easily,” Grosskopf said. “You can’t do that with gold, so every single gold sector fund in the world is either being liquidated or under pressure to index. There is no room for juniors."Major mining companies raised $3.37 billion in capital during 2018 on the Toronto Stock Exchange -- the world’s most popular exchange for miners -- down from a decade ago at $19.02 billion. Meanwhile, between about $20 billion and $30 billion in private capital is currently flowing to miners, according to data collected by Orion Mine Finance’s Silver.“The market collapsed in 2008, 2009 and they increased the margin calls on the big banks,” Silver said. In reaction, banks pulled back from riskier investments, which meant reducing their exposure to mining.U.S. gold miners have issued decreasing amounts of debt to the market in the last decade, down to $17.9 billion in 2018 from $42.98 billion in 2010, according to data from CreditSights Inc. The challenge: “they don’t have anything that’s driving the free cash flow,” said Wen Li, a mining analyst at the debt research firm.“For the smaller companies it’s going to be dependent on the company itself,” he said. “Are they generating cash? Do they have assets? Are they rallying on the developments? Generally speaking it’s going to be more difficult for a smaller company to come to the market and tap the capital needed versus a bigger company out there.”Still, there are mid-sized miners that have managed to gain the attention of commercial banks. B2Gold Corp. has won a number of revolving credit facilities from a group of banks including HSBC over the last several years.Earlier this month it announced it received new commitments from the group at $600 million with the possibility of another $200 million available “if and when we wanted it,” CEO Clive Johnson said in an interview last month.Now at the bottom of a market cycle, private firms are placing bets on the industry’s upside. The only caveat is the funding costs more, and companies like Premier Gold Mines Ltd. can feel it.“Right now Premier is a company that’s growing,” CEO Ewan Downie said in an interview in New York last month.While Downie said he’s thankful the company is able to spend money on the two mines it’s developing, he recognizes one of the challenges of being a smaller miner right now is that investors aren’t as readily trusting of companies his size and charge him more than he’d pay to a big bank for the risk.“We’re being penalized for spending money,” he added. “It’s a necessary evil. You have to spend the money to make the money in our business.”(Added Thursday’s gold price gain to seventh paragraph.)\--With assistance from Sonali Basak and Claire Boston.To contact the reporter on this story: Justina Vasquez in New York at jvasquez57@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, Reg Gale, Steven FrankFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Is Barrick Gold Stock Must-Buy Recession Insurance?
    InvestorPlace4 days ago

    Is Barrick Gold Stock Must-Buy Recession Insurance?

    Barrick Gold (NYSE:GOLD) has been coming back to life in recent weeks. While GOLD stock was flirting with a fall below $11.50 just a few weeks ago, it's now trying to hold onto a potential breakout over $14. Is this 23% rally in just a few weeks too much, or is Barrick Gold stock set to continue running?Source: Bullion Vault via Flickr (Modified)Simply put, GOLD stock generally acts as a proxy to gold prices. When uncertainty, fear and recession worries climb, often times the yellow metal does too. Currently, there's a lot of that going around. Rates, Rates, RatesEven though stocks are near all-time highs and the labor market is strong, worries about a recession persist. The odds of a recession are on the rise, increasing the probability, but far from guaranteeing an economic retreat. Those odds are based on the yield curve. As the curve compresses, it raises the odds for a recession. When it inverts it has an eerie ability to foreshadow a recession.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThese trends get more complex when considering the Fed's role alongside global central banks. Because the global economy has maintained such low rates, it's created immense demand for longer-dated U.S. Treasury bonds. They are safer from a credit perspective and have a far more attractive yield than all of its peers. For instance, why buy a French 10-year bond with a slightly lower rating yielding close to 0%, when you can buy a 10-year Treasury yielding ~2.1% right now? * 7 Top-Rated Biotech Stocks to Invest In Today While U.S. rates are historically low, they are high a global basis at the moment.That's driving long-term rates down at a time where the Fed was raising rates, helping to fuel an inversion. Now, odds call for a rate cut. And in fact, not just one but several. The market is pricing in a 94% chance that the Fed cuts rates by its September meeting. Investors are pricing in an almost 50% chance of two cuts by the same meeting.Wow. Valuing Barrick Gold StockSo what does all of that have to do with Barrick Gold stock? A lot, actually.If the Federal Reserve cuts rates, it could give a boost to gold prices. That's as it weakens the U.S. dollar and causes commodities to rise. Think of a company like Exxon Mobil (NYSE:XOM) or Chevron (NYSE:CVX) when oil prices catch a boost. The same can happen for GOLD stock.As long as there are worries -- think: trade war or recession related -- they could also act as catalyst for gold prices.As it relates to GOLD stock, analyst estimates aren't bad, but are far from robust. Analysts expect revenue to grow 14.5% this year to $8.3 billion. Earnings are expected to grow 8.6% to 38 cents per share. That leaves GOLD stock with a price-to-earnings ratio in the mid-30s, which is not exactly value territory.At the start of the year, Barrick completed its merger with Randgold Resources. This formed a $25 billion precious metal conglomerate. However, it didn't take long for the new entity to pursue Newmont Mining (NYSE:NEM). Newmont rejected the bid, and the two eventually decided on a joint-venture partnership instead. But it's clear that GOLD management has margin improvement and synergies in mind. * Stocks to Buy for $20 or Less Even with $5.5 billion in long-term debt and $2.15 billion in cash, GOLD stock has a solid balance sheet. The fact that investors can collect any kind of dividend yield is nice too, given that they don't receive any income from gold. Currently that yield is about 1.1%. Barrick is far from a mega-income generator, but it's better than nothing Trading Gold Stock Price Click to EnlargeSo where do we stand in all of this? Barrick Gold stock has decent but not great growth, a good balance sheet and a so-so, earnings-based valuation. But at the end of the day, it's a gold miner and that means it depends on the price of gold to drive its share price. It's worth pointing out that GOLD stock tends to outperform gold during the good times, but underperforms during the bad times.That's no surprise to anyone that follows the VanEck Vectors Gold Miners ETF (NYSEARCA:GDX) or the VanEck Vectors Junior Gold Miners ETF (NYSEARCA:GDXJ). These follow a similar pattern when tracking against the SPDR Gold Trust ETF (NYSEARCA:GLD).With GOLD stock price, we can see that shares broke out over range resistance at $14. Shares ran up to almost $14.50, where Barrick Gold stock topped out at in March. The trade now is simple -- and simple is good.Over $14 and investors can stay long the breakout. Below $14 and GOLD stock may need to reset. Perhaps that's with a test of the 20-day moving average. Maybe it's the 50-day. It may even fall back into its prior range and probe the range lows near $11.50 to $12.But over $14 could get us a run to $15 and possibly much higher should gold prices really take off.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Value Stocks to Buy for the Second Half * 7 Hot Stocks to Buy for a Seemingly Sleepy Summer * 6 Chip Stocks Staring At Big Headwinds in 2019 Compare Brokers The post Is Barrick Gold Stock Must-Buy Recession Insurance? appeared first on InvestorPlace.

  • Reuters5 days ago

    Barrick said Tuesday comments on Acacia offer not a 'no-increase statement'

    The comments, made to Bloomberg on Tuesday, addressed pending discussions with minority shareholders of Acacia Mining Plc over Barrick's proposal to offer 0.153 Barrick shares for each Acacia share. "My job is to sit down in the next few weeks and work through it with the minority shareholders," Bristow said in the phone interview.

  • Barrick Offers More Talk But Not More Stock for Acacia Stake
    Bloomberg5 days ago

    Barrick Offers More Talk But Not More Stock for Acacia Stake

    (Bloomberg) -- Barrick Gold Corp.’s CEO has no intention of raising his offer to buy out the rest of troubled African unit Acacia Mining Plc -- but he will use the next three weeks to talk.Barrick said in a statement on Tuesday it received a three-week extension to make a formal offer to minority shareholders for the roughly 36% stake in Acacia it doesn’t already own.“My job is to sit down in the next few weeks and work through it with the minority shareholders,” Barrick Chief Executive Officer Mark Bristow said in a phone interview Tuesday. Asked if those talks will include an offer for a higher indicative price, he was unequivocal. “No, we’re not,” he said. “We’re not. We would have done that already.”On Wednesday, Barrick released another statement citing Bloomberg’s interview with Bristow and confirming it’s “proposing to engage intensively with Acacia’s minority shareholders.” Barrick’s shares fell as much as 1.5% in pre-market trading in New York, while Acacia declined in London.Export BanThe clock is ticking as the London-listed unit, stuck in a public battle with Tanzania’s government since 2017, has seen its shares collapse by more than 60%. The Tanzanian government won’t engage with Acacia in any way, Bristow said, raising the possibility the situation could get even worse. “How much longer can these assets actually survive in a situation where the executive management of Acacia is unable to travel to the country, even?”Two years ago, Tanzania handed Acacia an export ban and a $190 billion tax bill, saying it falsely declared bullion sales abroad. Since then, the miner’s position in the East African country has deteriorated further. Its relationship with Barrick has also become increasingly strained, although Bristow said Tuesday’s statement from Acacia is a positive step on that front.Acacia said in a statement Tuesday it was open to a formal offer, provided the price was fair and its shareholders support the transaction. But on Wednesday, Acacia said it “strongly disagrees” with a number of statements in Barrick’s announcement regarding the situation in Tanzania and its mine plans in the East African nation. Acacia said in that statement it would provide a detailed response in due course, and urged its shareholders to take no action.‘Being Genuine’Under an informal proposal by Barrick in May, the Toronto-based company would buy out Acacia’s minority shareholders with its own shares at a ratio that implied a discount to the unit’s market value. Not all shareholders jumped on board, arguing the indicated price was too low, a fact Bristow has found frustrating. “We thought that they would at least accept that we were being genuine. But some people haven’t got their head around that, despite the fact that they are shareholders in Barrick and they have known me for years.”Since May, stronger gold prices have propelled gold miners higher. As of Monday, the proposed offer price valued Acacia at $887.8 million, Barrick said in its statement, which is close to the company’s current market value.‘Best Outcome’Some of Barrick’s largest shareholders, who also own Acacia shares, are backing the proposed swap. “The best outcome is a resolution, and the longer they delay that resolution, the longer it continues to destroy value,” Joe Foster, a portfolio manager at VanEck, said Tuesday by phone. “I expect both companies to do what it takes to get a quick resolution.”Acacia has been seeking to work out some of its issues with Tanzania through international arbitration, which is expected to begin in London in mid-July. Bristow said he doesn’t know if Acacia still plans to proceed with that legal process but said that Tuesday’s news is unrelated.Bristow’s hope is that Acacia’s board, and at least three-quarters of its minority shareholders, will support a Scheme of Arrangement proposal which would be the most “constructive” way for Barrick to assume 100% ownership. “It’s less costly, less burdensome on everyone, more efficient and much quicker,” he said.That may appeal to investors who want to move past the dispute so the companies can focus on production. “Generalist investors like us are upset with all the execution issues,” said Simon Jaeger, a portfolio manager at Flossbach von Storch AG, another of Barrick’s top shareholders. “They should get their heads together and solve it as soon as possible.”(Updates with comment from Barrick in fourth paragraph.)\--With assistance from Thomas Biesheuvel and Elena Mazneva.To contact the reporters on this story: Danielle Bochove in Toronto at dbochove1@bloomberg.net;Elena Mazneva in London at emazneva@bloomberg.netTo contact the editors responsible for this story: Luzi Ann Javier at ljavier@bloomberg.net, ;Lynn Thomasson at lthomasson@bloomberg.net, Steven Frank, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • ACCESSWIRE5 days ago

    Barrick Gold Corporation Announces Statement re. Acacia Mining plc - 19/06/2019

    TORONTO, CA / ACCESSWIRE / June 19, 2019 / Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX) ("Barrick" or the "Company") today provides the following further update in relation to Acacia Mining plc ("Acacia"). Barrick notes the article by Bloomberg dated 18 June 2019 (the "Article") and confirms that it is proposing to engage intensively with Acacia's minority shareholders in coming weeks. As referred to in the Article, these discussions will be on the basis of the proposal set out in Barrick's announcement of 21 May (the "Proposal") and will provide an update on the situation in Tanzania and a review of Acacia's mine plans which together underpin Barrick's view that the Proposal represents fair value (as set out in full in Barrick's announcement of 18 June).

  • GlobeNewswire5 days ago

    Statement re. Acacia Mining plc

    Barrick Gold Corporation (GOLD) (ABX.TO) (“Barrick” or the “Company”) today provides the following further update in relation to Acacia Mining plc (“Acacia”). Barrick notes the article by Bloomberg dated 18 June 2019 (the “Article”) and confirms that it is proposing to engage intensively with Acacia’s minority shareholders in coming weeks. As referred to in the Article, these discussions will be on the basis of the proposal set out in Barrick’s announcement of 21 May (the “Proposal”) and will provide an update on the situation in Tanzania and a review of Acacia’s mine plans which together underpin Barrick’s view that the Proposal represents fair value (as set out in full in Barrick’s announcement of 18 June).

  • ACCESSWIRE5 days ago

    Barrick Gold Corporation Announces Statement re. Acacia Mining plc

    TORONTO / ACCESSWIRE / June 19, 2019 / Barrick Gold Corporation (GOLD) (ABX.TO) ("Barrick" or the "Company") today provides the following further update in relation to Acacia Mining plc ("Acacia"). Barrick notes the article by Bloomberg dated 18 June 2019 (the "Article") and confirms that it is proposing to engage intensively with Acacia's minority shareholders in coming weeks. As referred to in the Article, these discussions will be on the basis of the proposal set out in Barrick's announcement of 21 May (the "Proposal") and will provide an update on the situation in Tanzania and a review of Acacia's mine plans which together underpin Barrick's view that the Proposal represents fair value (as set out in full in Barrick's announcement of 18 June).

  • Financial Times5 days ago

    Acacia Mining hits back at Barrick over criticism of mine plans

    Acacia Mining has hit back at its biggest shareholder Barrick Gold, promising a detailed response to claims that its mine plans are not appropriately risked or supportable. “The company strongly disagrees with a number of statements made in the announcement,” said Acacia, which operates three gold mines in Tanzania. a further three weeks to make a formal offer for the 36 per cent of Acacia it does not already own.

  • Financial Times5 days ago

    Like a Virgin? Challenger bank CYBG looks to Branson brand

    Yorkshire’s small business owners no longer think “where there’s muck, there’s brass”. Or so market research by Clydesdale and Yorkshire Banking Group would seem to suggest. Straight-talking Yorkshire pragmatism is out.

  • Barrick CEO believes Acacia offer is fair after extending bid deadline
    Reuters6 days ago

    Barrick CEO believes Acacia offer is fair after extending bid deadline

    Acacia agreed on Tuesday to extend to July 9 the deadline for Toronto-based Barrick to make a firm offer to acquire the 36.1% of the company it does not already own. Barrick's May 21 share-for-share proposal valued Acacia at $787 million, a near 9% discount to its pre-offer closing price, drawing protests from Acacia's minority shareholders.

  • ACCESSWIRE6 days ago

    Barrick Gold Corporation Announces Update re Acacia Mining: Tanzania and Mine Plans

    TORONTO, ON / ACCESSWIRE / June 18, 2019 / Barrick Gold Corporation (GOLD) (ABX.TO) ("Barrick" or the "Company") today provides the following further update in relation to Acacia Mining plc ("Acacia"). On 21 May 2019 Barrick announced that it had met with Directors and senior management of Acacia and presented a proposal for consideration by the independent directors of Acacia ("Independent Directors") to acquire all of the Acacia shares it does not already own through a share for share exchange of 0.153 Barrick shares for each ordinary share of 10 pence each in Acacia (the "Proposal").

  • ACCESSWIRE6 days ago

    Barrick Gold Corporation Announces Update re Acacia Mining, PUSU Deadline Extension

    TORONTO, ON / ACCESSWIRE / June 18, 2019 / Barrick Gold Corporation (GOLD) (ABX.TO) ("Barrick" or the "Company") today provides the following further update in relation to Acacia Mining plc ("Acacia"). On 21 May 2019 Barrick announced that it had met with Directors and senior management of Acacia and presented a proposal for consideration by the independent directors of Acacia ("Independent Directors") to acquire all of the Acacia shares it does not already own through a share for share exchange of 0.153 Barrick shares for each ordinary share of 10 pence each in Acacia (the "Proposal").

  • GlobeNewswire6 days ago

    Further Update Concerning Acacia Mining plc – Situation in Tanzania and Review of Acacia Mine Plans

    Barrick Gold Corporation (GOLD) (ABX.TO) (“Barrick” or the “Company”) today provides the following further update in relation to Acacia Mining plc (“Acacia”). On May 21, 2019 Barrick announced that it had met with Directors and senior management of Acacia and presented a proposal for consideration by the independent directors of Acacia (“Independent Directors”) to acquire all of the Acacia shares it does not already own through a share for share exchange of 0.153 Barrick shares for each ordinary share of 10 pence each in Acacia (the “Proposal”). On the basis of the market closing price of a Barrick share on the New York Stock Exchange on June 17, 2019 and the 410,085,499 Acacia ordinary shares in issue on that date this implies a value for Acacia of US$887.8 million and total consideration to the minority shareholders of Acacia of US$320.1 million.

  • GlobeNewswire6 days ago

    Further Update Concerning Acacia Mining plc – Extension of PUSU Deadline

    Barrick Gold Corporation (GOLD) (ABX.TO) (“Barrick” or the “Company”) today provides the following further update in relation to Acacia Mining plc (“Acacia”). On May 21, 2019 Barrick announced that it had met with Directors and senior management of Acacia and presented a proposal for consideration by the independent directors of Acacia (“Independent Directors”) to acquire all of the Acacia shares it does not already own through a share for share exchange of 0.153 Barrick shares for each ordinary share of 10 pence each in Acacia (the “Proposal”).

  • Financial Times6 days ago

    Barrick Gold seeks bid support from Acacia investors

    Barrick Gold has called on minority shareholders to support its proposed bid for Acacia Mining, warning of a “catastrophic” loss of value if they oppose the deal. The Canadian-listed miner said its all-stock offer was the only credible way to end a bitter dispute with the government of Tanzania over unpaid taxes that has crippled Acacia’s operations and hammered its share price. by UK regulators to persuade minority shareholders to back its proposed offer and make a formal bid.