Boston, MA 04\/24\/2014 (wallstreetpr) –\u00a0Barrick Gold Corporation (USA) <\/b>(NYSE:ABX) <\/b>is in discussions with Newmont Mining Corp (NYSE:NEM) <\/b>about a potential merger. Though there was news that the talks have been hit by a roadblock, insiders have confirmed that both parties are willing to close the deal, and another round of talk is likely to resume shortly. If this merger happens, it will create a new top flight gold producer.<\/p>\n
Strategic alliances<\/b><\/p>\n
Barrick Gold Corporation (USA) (NYSE:ABX) has entered into an agreement with Malbex Resources Inc for the latter’s Del Carmen project in Argentina\u2019s San Juan Province. Barrick will have the option of earning a 51% and then a 75% interest in this Project based on fulfilling certain expenditure requirements. Barrick has agreed to a subscription of an aggregate of 14,285,714 common shares of Malbex in line with the earn-in terms. The aggregate subscription price would be CAD1,000,000.The Joint Venture Company resulting from this agreement will initially be 95% owned by Malbex and 5% by Barrick.<\/p>\n
Coral Gold Resources Ltd has entered into an option and joint venture agreement and private placement of $705,500 with Barrick. In line with the agreement, Barrick Gold has been given an option to earn an undivided 60% interest on the company’s Gold Ridge Property in Nevada, in consideration for Barrick Gold bearing the exploration expenditures over a five year term amounting to $12,000,000.<\/p>\n
Key developments<\/b><\/p>\n
Silver Standard Resources Inc has completed the purchase of Marigold mine from subsidiaries of Barrick Gold Corporation and Goldcorp Inc. the deal was made for a cash consideration of $275 million. Goldcorp is the operator and 66.7% partner in Marigold while Barrick is the 33.3% partner.<\/b><\/p>\n
Barrick Gold Corporation has completed disinvestment of 41 million ordinary shares in African Barrick Gold plc (ABG). This represents nearly 10% of issued ordinary share capital of ABG. Through this divestment, the company has raised proceeds of nearly $188 million.<\/p>\n
Barrick Gold Corporation (USA) (NYSE:ABX) has completed the divestment of its interest in Kundana and Kanowna Belle mine operations into Northern Star Resources Ltd. Mineral Streams Inc. has acquired two cash flowing royalties on Barrick Gold Corp’s Hemlo complex.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 04\/24\/2014 (wallstreetpr) –\u00a0Barrick Gold Corporation (USA) (NYSE:ABX) is in discussions with Newmont Mining Corp (NYSE:NEM) about a potential merger. Though there was news […]<\/p>\n","protected":false},"author":6,"featured_media":19073,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[3334,2752,3181,2753],"stock_ticker":[],"class_list":["post-20147","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-barrick-gold-corporation-usa-nyseabx","tag-newmont-mining-corp-nysenem","tag-nyseabx","tag-nysenem","entry"],"acf":[],"yoast_head":"\n