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Barrick Gold Corporation

6/19/2013, 7:24 AM ET

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Wednesday, June 12, 2:18 PM Gold miners (GDX +1%) turn positive as gold climbs past $1,390/oz.: ABX +0.9%, GG +1.1%, NEM +1.2%, IAG +2.1%, GFI +1.3%, AUY +2.4%, NGD +1.3%. The link between gold miners and gold has been strong lately: The 24-day correlation between the spot price of gold and GDX has remained above 90% for five days, the longest such streak since July 2012. 5 Comments [Commodities, On the Move]
Friday, June 7, 2:09 PM Gold miners large (GDX -4.1%) and small (GDXJ -5.3%) alike are suffering a beat-down after jobs data from both the U.S. and Canada beat estimates; gold's gains for the week are entirely erased, and the metal "could melt even faster" if the global recovery continues. ABX -4.2%, AEM -6.7%, NEM -2.8%, GG -4.5%, AU -5.5%, EGO -5%, KGC -5.3%. SLW -2.8%, SSRI -7.3%, EXK -5.9%. GLD -2%, SLV -4.1%. 39 Comments [Commodities, On the Move]
Friday, June 7, 10:59 AM Barrick Gold (ABX -3.2%) is shedding dozens of workers from its Australian operations as it shuts down a local exploration unit and trims the workforce at one of its mines. It's the latest blow to western Australia's Goldfields, which is reeling from a succession of company collapses and job cuts as miners tighten their belts while commodity prices fall. Comment! [Commodities]
Wednesday, June 5, 6:44 PM Barrick Gold (ABX) says it will submit its water management plan for the delayed Pascua-Lama mine to give Chilean regulators "imminently." Far from hinting it might scrap the project after so many difficulties, ABX says Pascua-Lama will be a "key asset" when completed and it is fully committed to complying with Chile's regulators. 1 Comment [Commodities]
Tuesday, June 4, 3:18 PM A blip during a turnaround, or a new leg downward for gold miners (GDX -2.4%)? After stringing together several strong days, South African gold miners take a beating today as gold prices slide after a two-week rally: HMY -6.2%, SBGL -4.2%, AU -3.3%, GFI -2.2%. News that Barrick Gold (ABX -3.2%) will delay production at its Pascua-Lama mine may be adding to jitters over government risk. 2 Comments [Commodities, On the Move]
Tuesday, June 4, 8:18 AM Admitting what has become obvious, Barrick Gold (ABX) says completion of the Pascua-Lama project will be delayed beyond 2014, and capital costs likely will exceed its $8B-$8.5B estimate. ABX will "evaluate all alternatives" for Pascua-Lama in light of the current legal and regulatory issues, but few expect it to give up totally on such an important part of its long-term future. ABX -2.3% premarket. 6 Comments [Commodities, On the Move]
Thursday, May 30, 7:01 PM Barrick Gold's (ABX) suspended Pascua-Lama project isn't likely to be reactivated for at least another year or two, given the infrastructure that needs to be built to avoid water pollution, Chile's environmental regulator tells Reuters. Last Friday, the new regulator ordered the $8.5B project halted and fined ABX $16M, citing serious environmental violations. Comment! [Commodities]
Tuesday, May 28, 6:15 PM A firm suspension of the Pascua-Lama project in Chile would have major implications for Barrick Gold (ABX), TD Securities says: ABX’s balance sheet and liquidity position would improve in the short term, but over the long run, a sacrifice of 800K oz./year of low-cost production would create a massive negative impact on profitability and cash flow while leaving a production gap that can't be filled with existing operations. 5 Comments [Commodities]
Tuesday, May 28, 12:21 PM Barrick Gold (ABX +1.2%) founder and chairman Peter Munk puts some money where his mouth is, buying 100K ABX shares for ~$2.1M earlier this month. Munk has long complained the stock is undervalued, and the purchase shows he sees better times ahead, but his 0.2% ownership position remains small given his influence. 4 Comments [Commodities]
Friday, May 24, 4:47 PM Problems at the Pascua-Lama mine were already factored into Barrick Gold’s (ABX -2%) share price, and the slide after today's construction halt should be considered short-term, Gold Newsletter's Brien Lundin says. The $16M fine imposed by Chile is "immaterial" when contrasted to the $8.5B currently allocated to the project, Cowen analysts say. 5 Comments [Commodities]
Friday, May 24, 12:52 PM The slide in Fluor (FLR -3.1%) shares is attributed to Chile's halt on the Pascua-Lama mining project. On Feb. 18, Barrick Gold (ABX) awarded contracts to FLR involving construction management for the project; FLR booked the undisclosed value into its Q4 2012 backlog. Comment! [Commodities, On the Move]
Friday, May 24, 12:42 PM Silver Wheaton (SLW +0.9%) also is halted on news that Chile fined Barrick Gold (ABX) and stopped construction on the Pascua-Lama mine. In addition to being a key growth asset for ABX, Pascua-Lama significantly increases SLW's long-term growth profile, Briefing.com says; SLW's 25% share of the estimated average annual silver production for the project's first full five years is 9M oz. 3 Comments [Commodities]
Friday, May 24, 12:28 PM Barrick Gold (ABX -0.5%) is halted on news Chile's environmental regulator has imposed a $16M fine - the maximum allowed under Chilean law - and stopped construction on its $8.5B Pascua-Lama project, citing "serious violations" of its environmental permit. 10 Comments [Commodities, Breaking News]
Wednesday, May 22, 5:18 PM Barrick Gold (ABX) is considering shrinking in size as it focuses on returns over production volumes, CEO Jamie Sokalsky says. Shrinkage makes sense for ABX, Stifel Nicolaus says, adding selling the company’s Australian assets would be a good place to start: "In order to have better managerial control, you’re better off with fewer but much larger assets, preferably in the same north-south time zones.” 3 Comments [Commodities]
Tuesday, May 21, 9:41 AM IAMGOLD (IAG -4.9%) reports encouraging drill results from its Boto Gold project in West Africa, saying drilling continues to return wide intervals with good grades, confirming previous results and further extending the zones drilled. But gold miners (GDX -2.5%) are broadly lower as futures resume their descent after yesterday's wild ride: KGC -4.7%, EGO -4.6%, GFI -3.6%, ABX -2.8%, GG -2.2%, NEM -1.8%. Comment! [Commodities, On the Move]
Monday, May 20, 5:46 PM After-hours top gainers, as of 5:15 p.m.: LXP +5.7%. JASO +2.9%. EVF +2.8%. GIS +2.5%. RAD +2.5%.
After-hours top losers: KOS -11.9%. HGG -9.1%. ABX -6.7%. RGLD -5.4%. TAHO -5.1%. Comment! [On the Move]

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