Seeking Alpha

WSJ: Barrick Gold planning to sell Golden Sunlight mine in Montana

  • Barrick Gold (ABX) is looking to sell its Golden Sunlight mine in Montana, WSJ reports, continuing its two-year-long drive to shed non-core assets.
  • The open-pit mine is one of ABX's smallest properties, producing 92K oz. of gold in 2013, and it has a relatively short shelf life, with ~192K oz. of gold left at the end of 2013.
  • ABX's sale of non-core assets, launched in the summer of 2012 to boost profits and free cash flow, has raised more than $1B.
Comments (3)
  • ronaldmat
    , contributor
    Comments (12) | Send Message
     
    Good for ABX. We all get loaded down with things that take up more time and effort than they are worth. Call in all the cash and use it more efficiently.
    2 Jul 2014, 05:45 PM Reply Like
  • Z10isgreat
    , contributor
    Comments (290) | Send Message
     
    Where do you see the share price going over the next few quarters? They have been taking a bit of a working over but I think the sale of non core assets is the right strategy but already in today's price.
    2 Jul 2014, 06:18 PM Reply Like
  • bberuch
    , contributor
    Comments (314) | Send Message
     
    ABX management needs to make up for a plethora of boondoggles
    2 Jul 2014, 07:36 PM Reply Like
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