Barrick Announces Agreement to Divest its Minority Interest in Marigold in Nevada
Further Progress in Portfolio Optimization Process
All amounts expressed in US dollars unless otherwise indicated - PDF 76 KB
TORONTO, February 4, 2014 — Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) (Barrick or the "company") today announced it has agreed to divest its minority interest in the Marigold mine ("Marigold") in Nevada to Silver Standard Resources Inc. ("Silver Standard") for total cash consideration of $86 million, subject to certain closing adjustments. The transaction is expected to close in April, 2014.
Barrick has a 33.3% interest in Marigold, with the remaining 66.7% interest owned by the operator, Goldcorp Inc. ("Goldcorp"). Barrick's share of production in 2013 was about 55,000 ounces of gold at all-in sustaining costs (AISC) of about $1,545 per ounce1. Barrick's share of proven and probable reserves at December 31, 2012 was 1.6 million ounces2, and its share of measured and indicated resources and inferred resources was 0.2 million ounces2 and 0.4 million ounces2, respectively.
The transaction is a result of a single, coordinated divestiture process jointly executed with Goldcorp. Proceeds to Barrick have been adjusted to reflect Goldcorp's position as manager and majority owner of the joint venture.
The divestiture of Barrick's minority interest in Marigold is part of Barrick's ongoing portfolio optimization process to maximize free cash flow in line with the company's disciplined capital allocation framework.
RBC Capital Markets is acting as financial advisor to Barrick with respect to the transaction.
INVESTOR CONTACT:
Amy Schwalm
Vice President, Investor Relations
Telephone: +1 416 307-7422
Email: aschwalm@barrick.com
MEDIA CONTACT:
Andy Lloyd
Vice President, Communications
Telephone: +1 416 307-7414
Email: alloyd@barrick.com
1 All-in sustaining cost per ounce is a non-GAAP financial performance measure with no standardized definition under IFRS. See pages 44-49 of Barrick's Third Quarter 2013 Report.
2 For a breakdown of reserves and resources by category and additional information relating to reserves and resources, see pages 25-35 of Barrick's Form 40-F.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The word "expect" and similar expressions identify forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold and copper or certain other commodities; changes in national and local government legislation, taxation, controls, regulations, expropriation or nationalization of property and political or economic developments in the United States and other jurisdictions in which the company does or may carry on business in the future; and our ability to successfully complete divestitures. Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements.
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Barrick Gold Corp.
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PRODUCTEUR |
CODE : ABX.TO |
ISIN : CA0679011084 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Barrick Gold est une société de production minière d'or basée au Canada. Barrick Gold est productrice d'or, d'argent et de cuivre en USA, au Canada, au Chili, au Perou, en Australie, en Argentine, en Papouasie-Nouvelle-Guinee et en Tanzanie, en développement de projets d'argent, de cuivre, d'or, de palladium, de platine, de rhodium et de zinc au Chili, au Pakistan, au Perou, en Afrique Du Sud, en Papouasie-Nouvelle-Guinee, en Republique Dominicaine, en Tanzanie et in Russia, et détient divers projets d'exploration au Canada, en Australie, en Papouasie-Nouvelle-Guinee et en Tanzanie. Ses principaux projets en production sont BALD MOUNTAIN, CORTEZ HILLS, GOLDEN SUNLIGHT MINE et ROUND MOUNTAIN en USA, HEMLO, WILLIAMS UNDERGROUND, DAVID BELL, WILLIAMS, GOLDSTRIKE UNDERGROUND et WILLIAMS OPEN PIT au Canada, GRANNY SMITH MINE, KANOWNA BELLE, KALGOORLIE "SUPER PIT" JV, TURQUOISE RIDGE (GETCHELL), PLUTONIC, OSBORNE, DARLOT, LAWLERS, GOLDSTRIKE OPEN PIT, KUNDANA, RUBY HILL, COWAL, GOLDEN FEATHER et PIPELINE MINING COMPLEX en Australie, ZALDIVAR au Chili, PIERINA et LAGUNAS NORTE au Perou, BULYANHULU, NORTH MARA et TULAKAWA MINE en Tanzanie, VELADERO et MARIGOLD en Argentine et PORGERA et GOLDSTRIKE en Papouasie-Nouvelle-Guinee, ses principaux projets en développement sont DEE PROJECT et GOLD HILL au Perou, PUEBLO VIEJO en Republique Dominicaine, KAINANTU en Papouasie-Nouvelle-Guinee, BUZWAGI en Tanzanie, PASCUA LAMA au Chili, REKO DIQ au Pakistan, FEDOROVA et ROSSI in Russia et SEDIBELO en Afrique Du Sud et ses principaux projets en exploration sont PANDORA, HOMESTAKE MINE, MEIKLE GOLD MINE, LAC ELMER, MICHAUD, SOUTH ARTURO et COURAGEOUS LAKE au Canada, KIDSTON, GETCHELL, MOUNT PLEASANT GOLD OPERATIONS, MARYMIA, CLONCURRY COPPER GOLD JV, MT. CARULINA, FUSE WEST, RED HILL et LAVERTON JV en Australie, RIO FRIO S.A., LA ORTIGA, SANTA ROSA, SARITA AND SARITA SUR, REESE RIVER NEVADA et ICBM en Argentine, ANTABAMBA, DONLIN CREEK et PINSON au Perou, KABANGA, REN et KABANGA en Tanzanie et NEW BRITAIN ISLAND en Papouasie-Nouvelle-Guinee. Barrick Gold est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 26,4 milliards CA$ (19,3 milliards US$, 18,0 milliards €). La valeur de son action a atteint son plus bas niveau récent le 31 décembre 2015 à 10,08 CA$, et son plus haut niveau récent le 24 avril 2024 à 22,63 CA$. Barrick Gold possède 1 165 779 968 actions en circulation. |