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$BFGC Coverage: Buyers Line Up For Barrick Gold Corporation – NYSE: $ABX – $1 Billion Asset

Tuesday, October 18, 2016 5:32
% of readers think this story is Fact. Add your two cents. News Alert: New York, NY – Bull Frog Corp (OTC: BFGC) Commentary: While buyers line up for Barrick Gold Corporation (USA) (NYSE:ABX)’s $1 Billion Asset, a small cap gold mining stock that is quietly gaining traction is Bullfrog Gold Corp (OTCMKTS:BFGC). Recently, Bullfrog Gold had announced additional land acquisition next to its Bullfrog Project in Nevada. While gold and the mining end of the business remains a mystery to many investors, those who watch the markets are looking for opportunities in domestic producing areas. Read more HERE

Barrick Gold Corporation (NYSE:ABX) has decided to sell its stake in the Kalgoorlie Super Pit mine in Western Australia and a growing number of potential buyers are showing interest in grabbing the asset. Kalgoorlie is a joint venture between Barrick and Newmont Mining Corp (NYSE:NEM). Barrick owns 50% stake in the mine and the sale of that stake could generate $1 billion in proceeds for the company, sources have hinted.

Potential buyers – Potential buyers of Barrick’s 50% stake in Kalgoorlie mine have until the end of this month to place their bids. It is not clear whether Barrick has started receiving bids for the asset, but Kinross Gold Corporation (USA) (NYSE:KGC) and Zijin Mining Group, a former buyer of another Barrick asset, are among miners that have shown interest in Barrick’s stake in Kalgoorlie mine. The other companies that are reviewing data on the mine for possible bids include Australian miners Evolution Mining, Newcrest Mining and Northern Star Resources. Newcrest Mining is the partner of Barrick in the joint venture and the operator of the mine. Chinese miners Shandong Gold Mining and China National Gold Group are also said to be considering bids for ABX’s 50% stake in Kalgoorlie mine. Since taking over greater responsibility to operation Kalgoorlie mine, Newmont has improved the mines production and cost efficiency.

Gold deals – This year has been awash with deal-making in the gold sector as miners try to increase capacity or drop down costs to boost profitability. In 3Q2016, some 140 gold-themed acquisitions took place, making the quarter the busiest since 2010 in term of the number of transactions completed. Gold prices are up about 18% so far in 2016, but worries about interest…


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