All amounts are in US dollars
TORONTO, Sept. 29, 2022 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”) today announced the launch of its previously announced portfolio of 22 royalties (the “Portfolio”). announced that the sale had ended. ) to Maverix Metals Inc. (“Maverix”). by his Skeena Resources Limited (“Skeena”), the operator of his Eskay Creek mine in British Columbia, to acquire his 0.5% of his 1.0% net smelter rate of return on the Eskay Creek mine; Following the exercise of the right to purchase, Barrick: He received consideration equivalent to $50 million in cash for his portfolio. Barrick is entitled to receive up to an additional $10 million from Mavericks if certain portfolio conditions are met within six years of closing.
Representative Director and President
+1 647 205 7694
+44 788 071 1386
+1 416 307 5150
Investor and Media Relations
Cathy Du Plessis
+44 20 7557 7738
Email: [email protected]
Cautionary Note Regarding Forward-Looking Statements
Certain information contained in or incorporated by reference in this press release, including information regarding our strategies, projects, plans or future financial or operating results, constitutes “forward-looking statements.” All statements other than statements of historical fact are forward-looking statements. The words “will”, “contingent”, “if”, “expect” and similar expressions refer to forward-looking statements. Specifically, this press release contains forward-looking statements, including, but not limited to, regarding the aggregate consideration for the sale of the portfolio, including contingent payments.
While the forward-looking statements are believed by Barrick to be reasonable in light of management’s experience and current outlook as of the date of this press release, they are subject to the factors described below. It is necessarily based on a number of estimates and assumptions, including significant estimates and assumptions made by Conditions and anticipated developments are inherently subject to significant business, economic and competitive uncertainties and unforeseen circumstances. Known and unknown factors could cause actual results to differ materially from those projected in forward-looking statements, and you should not place undue reliance on such statements or information. Such factors include, but are not limited to: failure to meet the terms of payment of contingent consideration by Mavericks; Fluctuations in spot and forward prices of gold or certain other commodities. The speculative nature of mineral exploration and development. Changes in national and local government legislation, taxation, administration or regulation and/or changes in the administration of law, policies and practices, expropriation or nationalization of property, and political or economic developments in the jurisdictions in which Barrick operates. risks associated with new diseases, epidemics, and pandemics, including the effects and potential effects of the global Covid-19 pandemic; litigation and legal and administrative proceedings; Employee relationships, including loss of key employees. Increased costs and physical risks associated with climate change, such as extreme weather and resource scarcity. Increased availability and costs associated with mining inputs and labor. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining. This includes environmental hazards, industrial accidents, abnormal or unexpected formations, pressures, cave-ins, floods, gold bullion, copper cathodes, gold or copper concentrates. losses (and the risk of inadequate insurance or failure to obtain insurance to cover those risks);
Readers are cautioned that forward-looking statements are not guarantees of future performance. For more information on the factors underlying the forward-looking statements and the risks that may affect Barrick’s ability, please see our most recent Form 40-F filed with the SEC and the Canadian provincial securities regulators/annual See information form. to achieve the expectations set forth in the forward-looking statements contained in this press release; Barrick disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Barrick closes previously announced royalty portfolio sale to Maverix Metals, The Canadian Business Journal
Source link Barrick closes previously announced royalty portfolio sale to Maverix Metals, The Canadian Business Journal