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Barrick Gold (ABX +2%) says it has achieved commercial production at its 60%-owned Pueblo Viejo...

Barrick Gold (ABX +2%) says it has achieved commercial production at its 60%-owned Pueblo Viejo mine in the Dominican Republic; Goldcorp (GG +2.1%) owns 40%. Ramp-up to full capacity is expected to occur in H2 2013, and production for the year is anticipated at 500K-650K oz.; ABX's share of annual production in the first full five years is expected to average 625K-675K oz.
Comments (3)
  • Terry Bonner
    , contributor
    Comments (8) | Send Message
     
    I had almost sold ABX. I think I will hold a little longer.
    15 Jan 2013, 02:17 PM Reply Like
  • montclairace
    , contributor
    Comments (17) | Send Message
     
    Compared to Goldcorp it is still a loser - GG a much better bet
    15 Jan 2013, 06:16 PM Reply Like
  • TDWelander
    , contributor
    Comments (639) | Send Message
     
    Gold Corp does not have 27 mines. Or in any market shock or worst case, Gold Corp will get hit much worse than ABX. Covering the downside means holding ABX compared to any other gold producer.

     

    Also, the ABX upside is much better than Gold Corp based on having those 27 mines. The investment bankers lost their ABX CEO after the May 2012 stock holders meeting; and have been trying to nit pick ABX ever since driving down the stock price. Anyone who has examined Barrick/ABX in detail knows their fundamentals are second to none. Though part of wall street is doing a good job beating up on Barrick/ABX.

     

    And in spite of the wining of how Barrick is run by wall street, having accountants and technical people who actually understand how to produce gold instead of casting around for capital purchases and wasting money as wall street people do, people with a strong vested interest in Barrick/ABX are running the company for the time being. Which appears to be a good situation for stock holders.

     

    The best possible situation left is for the retail stock market to recognize the investment bankers are not going to nit pick Barrick/ABX out of existence or into mediocrity. Could be a year, could be five. In any case, when it happens, the likes of Apple or Google for ABX are a real possibility.
    18 Jan 2013, 12:02 PM Reply Like
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