Dominican Government, Barrick Gold strike US$11.6B deal (Dominican Today)
The Government and Barrick Gold Corporation (USA) (NYSE:ABX) reached an agreement over the mine at Pueblo Viejo, Cotui (center) with State revenue of US$11.6 billion, and now goes to Congress for approval in the coming days. Presidency chief of staff Gustavo Montalvo made the announcement on Twitter Wednesday night, and said more details will be provided at 4pm today. “The Dominican government and Barrick Gold Corporation (USA) (NYSE:ABX) have reached final agreement. Tomorrow at 4:00 pm we will announce all the details.
Stocks to Keep Your Eyes on – Goldcorp Inc. (USA) (NYSE:GG), Carnival Corporation (NYSE:CCL), Schlumberger Limited (NYSE:SLB), Valero Energy Corporation (NYSE:VLO) (Techsonian)
Goldcorp Inc. (USA) (NYSE:GG) opened the session at $29.45 and closed the session at $30.03. The stock showed a positive performance of 0.60% in previous trading session. Traded with volume of 5.71 million shares in the prior session and the average volume of the stock remained 8.13 million shares. Goldcorp Inc. (USA) (NYSE:GG) (Goldcorp) is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico and Central and South America.
Newmont appoints executive VP and CFO (Creamer Media’s Mining Weekly)
US gold miner Newmont Mining Corp (NYSE:NEM) this week announced the appointment of Laurie Brlas as executive VP and CFO effective from September 9, replacing Tom Mahoney, who has served as the company’s interim CFO since May 2. Mahoney will resume his role as VP and treasurer and will report to Brlas. Brlas most recently served as executive VP and president of global operations for diversified US miner Cliffs Natural Resources. In her new role at Newmont Mining Corp (NYSE:NEM), she would oversee the company’s global finance, business planning, value assurance, tax, treasury, internal audit, supply chain, information technology and investor relations functions.
U.S. hedge fund Two Fish Management calls for break up of Barrick Gold (Victoria Times Colonist)
A U.S. hedge fund is making a renewed call for changes at Barrick Gold Corporation (USA) (NYSE:ABX) calling for the break up of the company and the addition of a mining engineer and geologist to its board. Mike Morris, principal and founder of Two Fish Management, said Wednesday that there is no compelling reason for Barrick to own a worldwide conglomerate of gold mines. Since Two Fish first wrote to Barrick Gold Corporation (USA) (NYSE:ABX) demanding changes in April, the gold miner has agreed to sell off its Barrick Energy subsidiary in a series of deals worth a total of $455 million and three high-cost mines in Western Australia to South Africa-based miner Gold Fields Ltd. for $300 million.
September 13th Options Now Available For Newmont Mining Corp. (Forbes)
Investors in Newmont Mining Corp (NYSE:NEM) saw new options become available today, for the September 13th expiration. At Stock Options Channel, our YieldBoost formula has looked up and down the NEM options chain for the new September 13th contracts and identified one put and one call contract of particular interest. The put contract at the $30.50 strike price has a current bid of 68 cents. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $30.50, but will also collect the premium, putting the cost basis of the shares at $29.82 (before broker commissions).