The Australian unit of China’s biggest gold producer Zijin Mining Group says it will look at...


The Australian unit of China’s biggest gold producer Zijin Mining Group says it will look at bidding for three mines Barrick Gold (ABX) has put up for sale, signaling confidence in gold’s prospects. Chinese companies are stepping up deal activity in the gold sector while many of their big Western rivals are pulling back their spending.

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Comments (2)
  • options45
    , contributor
    Comments (23) | Send Message
     
    chinese smell easy pickings.
    11 May 2013, 02:08 AM Reply Like
  • TDWelander
    , contributor
    Comments (624) | Send Message
     
    Bunch of dreamers. They could not or would not buy African Barrick Gold. Is there any real difference here between the African and latest sale offers? I do not see any real difference. Or more pot stirring and distractions. Refining gold are jobs one, two, and three. Not this property sales BS.

     

    Better to shutter high cost properties rather than sell unless the fixed holding costs are too high; which I doubt. If the gold price suddenly goes back up and stays there for a while, selling any gold mine asset will look really stupid.

     

    Better to think of high cost properties as part time properties because there is still a small chance the gold price could just balloon to $4000 per ounce or more. A high cost property suddenly becomes a low cost property.

     

    Too even think about selling assets, the Barrick people must be listening to wall street again. Wall street fools intent on generating their own business, not increasing stockholders rate of return.

     

    Wall street can take their tunnel vision self interest; and you know
    what they can do with it.

     

    Who will build any kind of wall between wall street and Barrick management to stop these stupid distractions that would cost shareholders dearly in any significant gold market up trend?
    13 May 2013, 12:05 PM Reply Like
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