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Another Reason to Buy Barrick Gold

|Includes: Barrick Gold Corporation (ABX)

Peter Monk’s Barrick Gold (NYSE:ABX) snared approval for its Pascua-Lama adventure after Chile and Argentina signed a tax treaty on how to treat the mine’s profits. When completed, the $3 billion, 13,000 foot high project will be one of the world’s great engineering achievements, extracting a forecast 800,000 ounces of gold and 35 million ounces of silver in the first five years. This will raise the company’s production by 10% at a time when precious metals are getting increasingly hard to find. Just another reason to buy one of the world’s best managed companies producing the most sought after product.