gerüchte....???? interpretierte news..

verfasst von leibovitz, 06.08.2002, 16:52

09:18 05Aug2002 Barrick <ABX.TO> still on gold aquisition hunt

KALGOORLIE, Australia, Aug 5 (Reuters) - Barrick Gold Corp said on Monday it was open to further acquisitions, having digested its US$2.4 billion takeover of Homestake Mining.
"If the opportunity presents itself, we're ready," Barrick senior vice president of exploration Alex Davidson said.
"Acquisitions are still a strong part of Barrick's growth strategy," Davidson said on the sidelines of the Diggers and Dealers mining conference.
Unlike Newmont Mining Corp <NEM.N>, which has ruled out launching any more takeovers for a while after battling for Normandy Mining last year, Barrick's friendly takeover of Homestake had left it open for more acquisitions, Davidson said.
"We had a very smooth integration with Homestake," Davidson said.
Gold miners have been scurrying to get bigger through takeovers, hoping to catch the eye of more big institutional investors.
Newmont's acquisition of Normandy made it the biggest gold miner in the world, followed by Barrick.
Last week, Australia's biggest miner, AurionGold Ltd <AOR.AX>, formally rejected a hostile takeover bid by another Canadian miner, Placer Dome Inc <PDG.TO>.
AurionGold's board said the company, mining close to one million ounces a year, was worth more than the share and cash offer presented by Placer.
"I think it's (consolidation) got a ways to go, the market is still tiny," Davidson said.
Davidson also said Barrick hoped to increase its gold take by developing new lodes it already owns.
In Peru, where the company is readying a study on developing the massive Alto Chicama deposit, reserves are estimated at 7.3 million ounces.
"That could increase," Davidson said.
The company was also in discussions to improve returns at Australia's Super Pit mine. The mine, Australia's largest, is a fifty-fifty joint venture between Barrick and Newmont.
"We'd rather be 100 percent over 50 percent," Davidson said.
But he also suggested any additional acquisitions may be some time away.
"Right now we are making money," Davidson said."We're looking after our own backyard."
Davidson said Barrick, projected to mine 5.7 million ounces this year, had reduced its gold hedge book to 50 percent of output this year from 100 percent in previous years, reflecting optimism that bullion price were going up.
The gold sold into hedges will yield an average of $365 an ounce this year, compared with a spot market price of $307 at the moment.
((James Regan, Sydney Newsroom 61-2 9373-1814 jim.regan@reuters.com)) Monday, 05 August 2002 09:18:28
RTRS [nSYD31017 ] {C}
ENDS


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gesamter Thread:

• Take-Over - Gerücht für Placer Dome - Emerald, 06.08.2002, 15:53
  • Re: Take-Over - Gerücht für Placer Dome..erklär mal.. - ottoasta, 06.08.2002, 16:11
    • Re: Take-Over - Gerücht für Placer Dome..erklär mal.. - Emerald, 06.08.2002, 16:24
      • Re:..Gruß an die Schweiz.. - ottoasta, 06.08.2002, 16:39
        • Re:..Gruß an die Schweiz.. - PuppetMaster, 06.08.2002, 16:49
          • Re:..Gruß an die Schweiz..ja, denke die heisst so! Gruß! (owT). - ottoasta, 06.08.2002, 18:08
      • Regen im Wallis - Valueinvestor, 06.08.2002, 17:18
  • gerüchte....???? interpretierte news.. - leibovitz, 06.08.2002, 16:52