Mentioned:
Barrick Mining is carving out two of their largest gold operations in North America into a new company. And they’re taking it public on the New York Stock Exchange.
What’s happening:
- Barrick Mining's (NYSE: B) new North American gold company known as American Barrick Gold Corporation has filed a Form S-1 with the United States Securities and Exchange Commission to IPO
Why it matters:
- American Barrick Gold Corporation will hold Barrick Mining’s 61.5% stake in Nevada Gold Mines and their 60% stake in Pueblo Viejo
Going deeper:
- Barrick Mining’s stakes in Nevada Gold Mines and Pueblo Viejo combined produced a total of roughly 2M ounces of attributable gold last year
- American Barrick Gold Corporation intends to list on the New York Stock Exchange and Barrick Mining will remain the controlling shareholder
The fine print:
- American Barrick Gold Corporation has not yet publicly disclosed how much capital they will raise in their IPO or a specific valuation
