Buyers Line Up For Barrick Gold Corporation (USA) – NYSE: $ABX – $1 Billion Asset

While buyers line up for Barrick Gold Corporation (USA) (NYSE:ABX)’s $1 Billion Asset, a small cap gold mining stock that is quitely 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 (USA) (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 rate hike by the Federal Reserve have tempered with the rally in gold prices in the recent weeks. Barrick stock is up nearly 115% YTD. The stock rose 2% to $15.83 in the last session.

$BFGC

 

 

 

Legal Disclaimer/Disclosure:

This newsletter/advertisement is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. westbrookradio. com is a wholly-owned subsidiary of Market IQ Media Group, Inc. (“MIQ”). as of december 5, 2016 MIQ has been compensated a total of fifty thousand  dollars from 
a third party for BFGC advertising and promotion. This 3rd party may have shares in BFGC, and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this newsletter as the basis for any investment decision. The owner/operator of Market IQ Media Group currently owns ninety nine thousand five hundred shares of BFGC which were purchased in the open market and will not be selling these shares in the next 72 hours.