R/€ = 16.26 Change: -0.01
R/$ = 14.52 Change: 0.00
Au 1345.21 $/oz Change: 1.05
Pt 802.50 $/oz Change: 5.24
 
 
R/€ = 16.26 Change: -0.01
R/$ = 14.52 Change: 0.00
Au 1345.21 $/oz Change: 1.05
Pt 802.50 $/oz Change: 5.24
 
 
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Barrick participates in Midas Gold offering

11th June 2019 BY: Creamer Media Reporter

The world’s second largest gold miner, Barrick Gold, on Tuesday announced that it would acquire shares in US-focused Midas Gold as part of the Vancouver-headquartered junior’s public offering of shares announced the previous day.

Barrick currently owns 46 551 731 shares of Midas, representing about 19.6% of the junior and will acquire a further 7 274 142 shares, taking its stake to about 19.9%.

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Barrick would acquire the additional shares at the offering price of C$0.60 a share, for an aggregate consideration of about C$4.4-million.

Midas, which is advancing the Stibnite gold project, in Idaho, on Monday announced that it would aim to raise C$19.9-million through a bought deal public offering of 33.2-million shares.

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The proceeds from the sale of the shares would be used to advance the feasibility study on, and permitting for, the redevelopment and restoration of the Stibnite project.

Paulson & Co has indicated that it will participate in the offering, to maintain its pro rata interest of 29.11% of outstanding common shares. 

EDITED BY: Mariaan Webb Creamer Media Senior Researcher and Deputy Editor Online
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