You are here

K92 Mining may show that Barrick is much better at geology than business

Section: Daily Dispatches

3:55p ET Wednesday, July 27, 2016

Dear Friend of GATA and Gold:

Reuters reported today that, continuing efforts to reduce its huge debt, Barrick Gold is negotiating to sell another $1.9 billion in gold-mining interests in Africa:

http://www.gata.org/node/16621

Meanwhile Business News Network in Canada reports this week that another cast-off Barrick project, the Kainantu mine in Papua New Guinea, on which Barrick spent more than $240 million, only to unload it two years ago to K92 Mining for a mere $2 million --

http://www.gata.org/node/16469

-- is just two months from resuming production and is enjoying a rising share price.

The BNN report is an interview with K92 Mining President Bryan Slusarchuk and it can be watched at the BNN Internet site here:

http://www.bnn.ca/video/k92-mining-revives-an-old-barrick-asset~915499

The lesson seems to be that the Barrick people are much better geologists than business strategists.

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org



ADVERTISEMENT

Buy metals at GoldMoney and enjoy international storage

GoldMoney was established in 2001 by James and Geoff Turk and is safeguarding more than $1.7 billion in metals and currencies. Buy gold, silver, platinum, and palladium from GoldMoney over the Internet and store them in vaults in Canada, Hong Kong, Singapore, Switzerland, and the United Kingdom, ­taking advantage of GoldMoney's low storage rates, among the most competitive in the industry. GoldMoney also offers delivery of 100-gram and 1-kilogram gold bars and 1-kilogram silver bars. To learn more, please visit:

http://www.goldmoney.com/?gmrefcode=gata



Join GATA here:

New Orleans Investment Conference
Wednesday-Saturday, October 26-29, 2016
Hilton New Orleans Riverside
New Orleans, Louisiana
http://neworleansconference.com/

Support GATA by purchasing recordings of the proceedings of the 2014 New Orleans Investment Conference:

https://jeffersoncompanies.com/landing/2014-av-powell

Or by purchasing DVDs of GATA's London conference in August 2011 or GATA's Dawson City conference in August 2006:

http://www.goldrush21.com/order.html

Or a colorful poster of GATA's full-page ad in The Wall Street Journal on January 31, 2009:

http://gata.org/node/wallstreetjournal

Help keep GATA going

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16