Barrick Gold

Barrick Targets 2028 for First Production from Reko Diq

Retrieved on: 
Monday, January 16, 2023

ISLAMABAD, Pakistan, Jan. 16, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) – Barrick president and chief executive Mark Bristow has advised the Pakistan federal and Balochistan provincial government that, following the completion of the legal processes and definitive transaction agreements last month, the company plans to finish the Reko Diq feasibility study update by the end of 2024, with 2028 targeted for first production from the giant copper-gold mine in the country’s Balochistan province.

Key Points: 
  • Reko Diq will be operated by Barrick, which owns 50% of the project, with Balochistan holding 25% and three Pakistani state-owned enterprises sharing the remaining 25%.
  • The shareholding structure is in line with Barrick’s policy of benefit-sharing partnerships with its host countries.
  • Barrick is working to set up community development committees to identify priority projects focused on food security, environmental management and access to education, healthcare and potable water.
  • The minister welcomed the Reko Diq project as the type of long-term, employment-creating investment by a leading multinational that the country needed more of and that could help in the reform of the Pakistan and Balochistan economies.

Barrick Broadens Copper Base in Saudi Arabia

Retrieved on: 
Wednesday, January 11, 2023

RIYADH, Saudi Arabia, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today signed new joint venture agreements with Ma’aden for two prospective exploration projects comprising the Jabal Sayid South and Umm Ad Damar license areas.

Key Points: 
  • RIYADH, Saudi Arabia, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today signed new joint venture agreements with Ma’aden for two prospective exploration projects comprising the Jabal Sayid South and Umm Ad Damar license areas.
  • These new prospective joint ventures significantly expand Barrick’s exploration footprint in Saudi Arabia, grow the Ma’aden Barrick partnership and open up potential synergies with the neighboring Jabal Sayid mine, an already successful 50/50 joint venture between Barrick and Ma’aden.
  • Speaking at the signing ceremony, Barrick president and chief executive Mark Bristow said the company would bring its record of exploration and operational success to the new projects.
  • “Recent high-grade intercepts from underground drilling within the existing Jabal Sayid mine are demonstrating potential for further orebody extensions.

K92 Mining Announces Executive Promotions of David Medilek to President and Warren Uyen to Chief Operating Officer

Retrieved on: 
Monday, January 9, 2023

VANCOUVER, British Columbia, Jan. 09, 2023 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQX: KNTNF) is pleased to announce the promotions of David Medilek to the position of President and Warren Uyen to the position of Chief Operating Officer.

Key Points: 
  • VANCOUVER, British Columbia, Jan. 09, 2023 (GLOBE NEWSWIRE) -- K92 Mining Inc. (“K92” or the “Company”) (TSX: KNT; OTCQX: KNTNF) is pleased to announce the promotions of David Medilek to the position of President and Warren Uyen to the position of Chief Operating Officer.
  • Mr. Medilek is a mining professional with over 15 years of mining capital markets, corporate strategy and technical operating experience.
  • Mr. Uyen joined K92 from the Australian mining contractor, MacMahon Holdings Limited, where he was Executive General Manager of Underground Operations.
  • John Lewins, K92 Chief Executive Officer and Director, stated, “Over the last few years, David and Warren have made significant contributions to the success of the Company.

Royal Gold Announces Acquisition of Additional Royalty Interests on the World-Class Cortez Gold Complex in Nevada and Outlines Simplified Approach to Describing Royal Gold’s Multiple Royalty Interests at Cortez

Retrieved on: 
Thursday, January 5, 2023

“With this transaction we have further consolidated our royalty position at the world-class Cortez Complex,” commented Bill Heissenbuttel, President and CEO of Royal Gold.

Key Points: 
  • “With this transaction we have further consolidated our royalty position at the world-class Cortez Complex,” commented Bill Heissenbuttel, President and CEO of Royal Gold.
  • Using available liquidity sources to fund the acquisition provides Royal Gold shareholders with full exposure to exploration and production success without equity dilution.
  • Royal Gold owns multiple royalty interests at the Cortez Complex that have been acquired over time.
  • For purposes of simplified disclosure, Royal Gold has divided its royalty interests at the Cortez Complex into two zones: the Legacy Zone and the Cortez Complex Zone (the “CC Zone”).

Kenorland Minerals Options the O'Sullivan Project to Sumitomo Metal Mining Canada Ltd.

Retrieved on: 
Thursday, December 15, 2022

Kenorland will act as operator of the Project in return for a management fee equal to 15% of the total expenditures during the first earn-in period.

Key Points: 
  • Kenorland will act as operator of the Project in return for a management fee equal to 15% of the total expenditures during the first earn-in period.
  • Since acquiring the project through map staking in 2020, Kenorland has completed two phases of regional till sampling across the Project.
  • Kenorland Minerals Ltd. (TSXV: KLD) is a mineral exploration Company incorporated under the laws of the Province of British Columbia and based in Vancouver, British Columbia, Canada.
  • The Frotet Project and Chicobi Project are held under joint venture with Sumitomo, the O'Sullivan Project is optioned to Sumitomo, the Chebistuan Project is optioned to Newmont Corporation and the Hunter Project is held under option to Centerra Gold Inc.

Kenorland Raises $9,000,000 Through Sale of Marketable Securities

Retrieved on: 
Wednesday, December 14, 2022

The proceeds from the sale further strengthens Kenorland's cash position and brings its current cash balance to a total of approximately $19,800,000.

Key Points: 
  • The proceeds from the sale further strengthens Kenorland's cash position and brings its current cash balance to a total of approximately $19,800,000.
  • Kenorland continues to provide operator services to Li-FT on the Rupert project and was granted a 2% net smelter returns royalty on the Rupert Project.
  • The Company has no current plans to dispose of its remaining Li-FT shares and will continue to monitor its investments.
  • Kenorland holds a portfolio of securities in both public and private issuers through the sale or option of mineral properties.

Kenorland Enters Definitive Agreement to Sell Lithium Projects to Targa Exploration

Retrieved on: 
Tuesday, December 13, 2022

As consideration for the Projects, Targa will issue to Kenorland 4,377,375 common shares of Targa, grant Kenorland a 3% net smelter royalty over the Projects and pay Kenorland $100,000 in cash at the closing of the sale of the Projects (the "Closing").

Key Points: 
  • As consideration for the Projects, Targa will issue to Kenorland 4,377,375 common shares of Targa, grant Kenorland a 3% net smelter royalty over the Projects and pay Kenorland $100,000 in cash at the closing of the sale of the Projects (the "Closing").
  • Kenorland Minerals Ltd. (TSXV: KLD) is a mineral exploration Company incorporated under the laws of the Province of British Columbia and based in Vancouver, British Columbia, Canada.
  • The Company currently holds four projects in Quebec where work is being completed under joint venture and earn-in agreement from third parties.
  • In Ontario, the Company holds the South Uchi Project under an earn-in agreement with a wholly owned subsidiary of Barrick Gold Corporation.

Moody’s Upgrades Barrick to A3 with Stable Outlook

Retrieved on: 
Wednesday, December 14, 2022

TORONTO, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced that Moody’s Investors Service (“Moody’s”) has upgraded the senior unsecured ratings of Barrick and all rated subsidiaries to A3 from Baa1, with a stable outlook.

Key Points: 
  • TORONTO, Dec. 14, 2022 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today announced that Moody’s Investors Service (“Moody’s”) has upgraded the senior unsecured ratings of Barrick and all rated subsidiaries to A3 from Baa1, with a stable outlook.
  • In a news release announcing the upgrade, Moody’s noted that Barrick’s liquidity is excellent, which provides significant flexibility to maneuver through gold price volatility.
  • Senior executive vice-president and chief financial officer Graham Shuttleworth said: “This upgrade is reflective of the continued progress that Barrick has made in strengthening our balance sheet and managing our capital structure.
  • These improvements to our credit standing have been made alongside record returns to shareholders in 2021 and 2022, highlighting the strong overall performance of our business.”

Argonaut Gold Appoints New CEO to Lead the Company to the Next Stage of Growth

Retrieved on: 
Thursday, December 8, 2022

TORONTO, Dec. 8, 2022 /CNW/ - Argonaut Gold Inc. (TSX: AR) (the "Company", "Argonaut Gold" or "Argonaut") announces that Larry Radford will step down as President and Chief Executive Officer (CEO) effective immediately for personal health reasons.

Key Points: 
  • TORONTO, Dec. 8, 2022 /CNW/ - Argonaut Gold Inc. (TSX: AR) (the "Company", "Argonaut Gold" or "Argonaut") announces that Larry Radford will step down as President and Chief Executive Officer (CEO) effective immediately for personal health reasons.
  • The Board of Directors has appointed Richard Young as President and CEO and Director of the Board of the Company.
  • His experience at Teranga Gold in leading teams that built, commissioned and operated mines will be valuable to Argonaut.
  • Argonaut Gold is a Canadian gold company engaged in exploration, mine development and production.

Pipeline West/Clipper Gold Project Exploration Update

Retrieved on: 
Thursday, December 1, 2022

VANCOUVER, British Columbia, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Riley Gold Corp. (TSX.V: RLYG) (OTCQB: RLYGF) (Riley Gold or the Company) is pleased to announce an exploration update at its Pipeline West/Clipper Gold Project (PWC) located in Lander County, Nevada.

Key Points: 
  • VANCOUVER, British Columbia, Dec. 01, 2022 (GLOBE NEWSWIRE) -- Riley Gold Corp. (TSX.V: RLYG) (OTCQB: RLYGF) (Riley Gold or the Company) is pleased to announce an exploration update at its Pipeline West/Clipper Gold Project (PWC) located in Lander County, Nevada.
  • The project area consists of approximately 24.7 square kilometres (sqkm) in the heart of the Cortez section of the Battle Mountain Eureka Trend and adjoins Nevada Gold Mines LLC which is a joint venture between Barrick Gold Corp. and Newmont Corporation.
  • We are pleased to have been advancing our exploration work this Fall/Winter at PWC and are excited to continue those initiatives into 2023.
  • The Companys primary focus is on its two cornerstone assets: the Pipeline West/Clipper Project located in the Battle Mountain Eureka Trend (within the Cortez District) and the Tokop Gold Project located within the Walker Lane Trend.