#10134228 at 2020-07-31 05:53:10 (UTC+1) Q Research General #12970: The Maxwell Files Edition
Resignations in the news 7/28/2020 thru 7/30/2020 - part 3
Anglogold Ashanti CEO KelvinDushnisky to Step Down on Sept 1
Carter County Commissioner Ray Lyons to step down
Head of Menlo Church steps down over 'poor judgment'
PG&E utility CEO Andy Vesey to step down in latest management shakeup
KCPS worker fired in student attendance scandal sues
Mission Ready Announces Appointment of James Marks as Interim CEO, Resignation of Jeffery Schwartz as President and CEO
Retiring Palm Beach County Medical Society CEO Leaves Big Shoes to Fill
Teacher resigns after comments depicting racism, child abuse
NLEP President Scott Martinez announces resignation
Debra Lewis Resigns from City Council
Lidl US Chairman Roman Heini resigns
Two long-time Spirit AeroSystems executives to retire
Deputy sheriff to be fired for not reporting excessive force; Said she didn't want to be a rat
North Adams councilman resigns for inflammatory comments
Founding icare board member resigns
Illinois imam resigns over sexist, racist social media posts
Motilal Oswal AMC's CEO Aashish Somaiyaa resigns after 7 year stint: Sources
Vale City Manager resigns
Idaho teacher fired for saying mayor should 'get laid' by BLM members
Jackson Carlaw resigns as Scottish Conservative leader just months after winning role
Senior country Liberal Adrian Pederick resigns as government whip amid SA expenses scandal
#319160 at 2018-02-10 01:34:15 (UTC+1) Q Research General #391: General Kelly Edition
From Wikipedia, the free encyclopedia
Barrick Gold Corporation
Traded as TSX: ABX
S&P/TSX 60 component
Industry Metals and Mining
Founded 1983; 35 years ago
Founder Peter Munk
Headquarters Toronto, Ontario, Canada
John L. Thornton
(Executive Chairman since September 16, 2014) KelvinDushnisky
Revenue Decrease$8,558.00 million (2016)
Increase$2,424.30 million (2016)
Increase$655.00 million (2016)
Barrick Gold Corporation is the largest gold mining company in the world, with its headquarters in Toronto, Ontario, Canada. The company has mining operations in Argentina, Australia, Canada, Chile, the Dominican Republic, Papua New Guinea, Peru, Saudi Arabia, the United States and Zambia. More than 75% of Barrick's gold production comes from the Americas region. In 2016, it produced 5.52 million ounces of gold at all-in sustaining costs of US $798/ounce and 415 million pounds of copper at all-in sustaining costs of $2.05/pound. As of December 31, 2016, the company had 85.9 million ounces of proven and probable gold reserves.
Founding and early years
Barrick Gold Corporation evolved from a privately held North American oil and gas company,
Barrick Resources. After suffering financial losses in oil and gas, founder Peter Munk decided to refocus the company on gold. He saw an opportunity to create a gold company based in North America, at a time when Apartheid-era sanctions prevented North American investors from owning shares in South African gold companies, who dominated the industry at that time . Barrick Resources Corporation became a publicly traded company on May 2, 1983, listing on the Toronto Stock Exchange.
The company's first acquisition was the Renabie mine, near Wawa, Ontario,. In 1984, Barrick acquired Camflo Mining, which had operations in the province of Quebec and in the U.S. state of Nevada. The company continued to grow with the acquiring of the Mercur mine in Mercur, Utah in June 1985 followed by the Goldstike mine in Nevada in 1986. Goldstrike mine is located on the Carlin Trend.
1986 to 2005
Reflecting its identity as a North American producer, distinct from its South African competitors, the company's name was changed to American Barrick Resources in 1986. It was listed on the New York Stock Exchange in February 1987. Its name was later changed to Barrick Gold Corporation in 1995.
American Barrick became the third-largest gold mining company in the world when it acquired Lac Minerals in 1994, which owned mining properties in North and South America. Two years later, in 1996, Arequipa Resources, owner of properties including the Pierina mine in Peru, accepted a takeover offer from the renamed Barrick Gold Corporation. A third acquisition followed in early 1999, when Barrick Gold acquired Sutton Resources Ltd., assuming ownership of properties in Tanzania. In 2001, Barrick acquired Homestake Mining Company for $2.3 billion in stock, then one of the oldest mining companies in the United States. The purchase made Barrick the second-largest gold producer in the world.
Placer Dome acquisition
On October 31, 2005, Barrick launched an unsolicited takeover bid valued at US$9.2 billion for rival Canadian gold miner Placer Dome. Placer Dome initially recommended shareholders reject the offer. In December, Placer Dome's board of directors accepted an increased offer from Barrick worth US$10.4 billion. The transaction closed in early 2006, making Barrick the world's largest gold producer.
2006 to present
Barrick launched what was then the largest stock offering in Canadian history in 2009, when it launched a $3 billion equity offering, which was increased the following day to $3.5 billion in response to market demand. Proceeds from the offering were used to eliminate the company's gold hedges, which locked in the sale price of future production, rather than selling it at market prices.