Itinerant • Thu, Nov. 20
There are 3 articles on this stock available only to PRO subscribers.
- African Barrick Gold to change name to Acacia Mining.
- Confirms our observation that African Barrick Gold is distancing itself from its current name sake mother company Barrick Gold.
- Investors' day at the end of November should prove interesting.
- African Barrick Gold has posted results for yet another good quarter.
- Production is up y-o-y and costs are down allowing for positive free cash flow.
- Our view of this company remains tentatively positive.
- African Barrick Gold is showing signs of a turn-around.
- Q2 was free cash flow positive, costs control appears to gain traction and management seems serious about right-sizing operations.
- Major share holder Barrick Gold continues to hold a 64% stake.
African Barrick Gold Is Compelling, But Cheap For A Reason
Jan. 8, 2013, 3:57 AMAfrican Barrick Gold (ABGLF.PK) plummets 21% in London after parent company Barrick Gold (ABX) ends talks to sell the unit, in which it owns 74%, to state-owned China National Gold. Barrick Gold "will only proceed with opportunities that generate acceptable value," CEO Jamie Sokalsky said. African Barrick, which is worth $1.4B, will now conduct a review of its operations in order to improve returns. (PR) | Comment!
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