Barrick Announces Agreement to Divest Plutonic Mine in Australia
22 Dicembre 2013 - 11:22PM
Marketwired
Barrick Announces Agreement to Divest Plutonic Mine in Australia
Further Progress in Portfolio Optimization Process
TORONTO, ONTARIO--(Marketwired - Dec 22, 2013) -
All amounts expressed in US dollars unless otherwise
indicated.
Barrick Gold Corporation
(NYSE:ABX)(TSX:ABX) (Barrick or the "company") today announced it
has agreed to divest its Plutonic mine ("Plutonic") in Western
Australia to Northern Star Resources Ltd ("Northern Star") for
total cash consideration of A$25 million, subject to certain
closing adjustments. The transaction, which is subject to customary
closing conditions, is expected to close in February, 2014.
Plutonic contained proven and
probable reserves of 0.2 million ounces(1), measured and indicated
resources of 0.8 million ounces(1) and inferred resources of 1.0
million ounces(1) as at December 31, 2012. The mine produced 86,000
ounces in the first nine months of 2013 at all-in sustaining costs
of $1,110 per ounce(2).
UBS Securities Canada Inc. and
BofA Merrill Lynch are acting as financial advisors to Barrick with
respect to the transaction. Clayton Utz is acting as legal counsel
to Barrick.
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 certain other commodities;
legislative, political or economic developments in jurisdictions in
which the company does or may carry on business; diminishing
quantities or grades of reserves; operating or technical
difficulties in connection with mining or development activities;
the speculative nature of mineral exploration and development,
including the risks of obtaining necessary licenses and permits;
contests over title to properties; risk of loss due to acts of war,
terrorism, sabotage and civil disturbances; litigation; our ability
to successfully complete divestitures; and employee relations. In
addition, there are risks and hazards associated with the business
of mineral exploration, development and mining, including
environmental hazards, industrial accidents, unusual or unexpected
formations, pressures, cave-ins, flooding and gold bullion losses
(and the risk of inadequate insurance, or inability to obtain
insurance, to cover these risks). 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.
The company disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by
applicable law.
(1) |
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. |
(2) |
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. |
INVESTOR CONTACT: Amy SchwalmVice President, Investor
Relations(416) 307-7422aschwalm@barrick.comMEDIA CONTACT: Andy
LloydVice President, Communications(416)
307-7414alloyd@barrick.com
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