Key Developments: Barrick Gold Corporation (ABX.TO)
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Latest Key Developments
NASDAQ OMX Group, Inc. Replaces 12 Companies on NASDAQ OMX CRD Global Sustainability 50 Index; Barrick Gold Corp. Leaves-NASDAQ OMX
NASDAQ OMX Group, Inc. announced that as part of the semi-annual re-ranking of the NASDAQ OMX CRD Global Sustainability 50 Index it has added the securities of the following companies to the index: Agilent Technologies Inc., Banco Bradesco SA, BBVA S.A., Bank of Montreal, Bristol-Myers Squibb Co., The Dow Chemical Company, Infosys Technologies Limited, Eli Lilly and Company, Motorola, Inc., Novo Nordisk A/S, Petroleo Brasileiro S.A., and UBS AG. The following companies' securities will be removed from the index: ABB Ltd., Barrick Gold Corp., BP p.l.c., BT Group plc, Reed Elsevier PLC, Pfizer Inc., Royal Dutch Shell plc, Royal Bank Of Canada, Siemens AG, Statoil ASA, Vodafone Group PLC and Westpac Banking Corporation. The change will be effective prior to market open on May 24, 2010.
Barrick Gold Corp. Announces Dividend
Barrick Gold Corp. announced that its Board of Directors has declared a dividend of US$0.20 per share, payable on June 15, 2010 to shareholders of record at the close of business on May 31, 2010.
Barrick Gold Corp. Reaffirms FY 2010 Production Guidance
Barrick Gold Corp. announced that it is on track with its guidance to increase production in fiscal 2010 to 7.6-8.0 million ounces at lower total cash costs of $425-$455 per ounce or net cash costs of $345-$375 per ounce.
Kinross Gold Corporation Announces Closing Of Sale Of 25% Interest In Cerro Casale To Barrick Gold Corp.
Kinross Gold Corporation announced the closing of its sale of 25% of the Cerro Casale project in Chile to Barrick Gold Corp. The total transaction value to Kinross was approximately USD474 million, comprised of approximately USD454 million in cash (after adjusting for working capital) plus the assumption by Barrick of a USD20 million contingent obligation. Kinross now owns 25%, and Barrick 75%, of the Cerro Casale project.
Barrick Gold Corp. Announces Closing Of African Barrick Gold plc's Initial Public Offering
Barrick Gold Corp. announced that initial public offering for African Barrick Gold plc (ABG) is closed and its approximately 404 million ordinary shares have been admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities under the ticker ABG. Net proceeds of the offering are approximately $834 million which will be paid to Barrick. ABG has an initial cash balance of approximately $280 million.
Barrick Gold Corp. Announces Pricing Of African Barrick Gold plc Initial Public Offering
Barrick Gold Corp. announced the pricing of the Initial Public Offering of African Barrick Gold plc (ABG), a new company whose equity will be admitted to the Official List of the Financial Services Authority and to trading on the London Stock Exchange's main market for listed securities. An offer price of GBP5.75 per ordinary share has been set and the net proceeds of the offering are expected to be approximately $834 million, which will be paid to Barrick. ABG is selling approximately 101 million ordinary shares in the offering, or about 25% of its equity and Barrick will retain an interest in approximately 303 million ordinary shares, or about 75% of the equity of ABG (assuming the over-allotment option is not exercised). In addition, an over-allotment option of up to approximately 10.1 million ordinary shares, representing about 10% of the offer size has been granted, exercisable for a period of up to 30 days from the pricing of the offering. Based on the offer price, the market capitalization of ABG immediately following the offering will be approximately $3.55 billion. ABG has an initial cash balance of approximately $280 million. The offering is expected to close on or about March 24, 2010.
Tusker Gold Ltd Accepts Recommended Cash Offer From Barrick Gold Corporation's BUK Holdco Limited
Tusker Gold Ltd announced that it has accepted the recommended cash offer by BUK Holdco Limited to acquire all the shares in Tusker Gold Ltd at AUD0.80 per share. The offer is being made by BUK Holdco Limited (Bidco), a subsidiary of Barrick Gold Corporation. Indago Resources Ltd, which holds 67.5% of the issued capital of Tusker, has entered into a pre bid acceptance agreement with Barrick under which it has agreed to accept the offer in respect of 17.5% of Tusker Shares within five business days of the offer being sent to Tusker Shareholders. Indago has also notified Tusker that it intends to accept the offer for its remaining 50% stake in Tusker, in the absence of a superior proposal.
Barrick Gold Corp.'s African Barrick Gold In $1 Billion London IPO-Reuters
Reuters reported that African Barrick Gold, a spin-off of Barrick Gold Corp. has launched a London listing to raise about $1 billion that values its assets at about $4 billion. African Barrick Gold which announced its intention to float last week, started pre-marketing the initial public offering (IPO) on Monday. The Company is offering 25% of its enlarged share capital in a deal arranged by J.P. Morgan and Morgan Stanley. Bookbuilding is set to run between March 5 and March 18. African Barrick Gold plans to use the IPO proceeds to repay debt and is expected to hold a net cash of $280 million after the listing.
Barrick Gold Corp. Updates FY 2010 Production Guidance; Announces Creation Of African Barrick Gold Whose Equity It Will Seek To List With The United Kingdom Listing Authority
Barrick Gold Corp. announced that its production is expected to increase to 7.6-8.0 million ounces in fiscal 2010. Barrick also announced the creation of African Barrick Gold (ABG), a new company whose equity it will seek to list with the United Kingdom Listing Authority and to admit to trading on the London Stock Exchange, subject to market conditions. ABG also intends to seek a future listing on the Dar es Salaam Stock Exchange in Tanzania. In each case, the new listing will be subject to ABG fulfilling all of the listing requirements of the London Stock Exchange and the Dar es Salaam Stock Exchange as applicable. African Barrick Gold will hold Barrick's African gold mines and exploration properties. ABG will offer approximately 25%(12) of its equity in an IPO and Barrick will retain the remaining interest. The pricing and terms are yet to be determined; however, the offering is expected to be priced in late March, with closing expected to occur by the end of March. ABG is expected to have an initial cash balance of $0.28 billion and the net offering proceeds will be paid to Barrick. ABG will offer approximately 25% of its equity in an initial public offering (IPO) and Barrick will retain the remaining interest.
Tusker Gold Ltd Announces Voting Power Of Barrick Gold Corporation
Tusker Gold Ltd announced that Barrick Gold Corporation holds 20,000,000 ordinary shares representing 20% voting right in the Company.
CANADA STOCKS-TSX little changed, undermined by gold slide
*Four out of 10 index sectors higher; gold shares down (Updates with details, commentary)
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