Our top story in this week’s gold report puts Barrick Mining (TSX:ABX) in focus once again, following news that the company is considering a spin-out of its North American gold assets, including properties in Nevada and the Dominican Republic. Barrick, currently the largest gold producer in the United States, is in the midst of an operational turnaround, following activist investor Elliott Investment Management acquiring a top-10 stake in the miner.
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This content has been prepared as part of a partnership with Barrick Mining, McFarlane Lake Mining, Hemlo Mining and North Peak Resources, and is intended for informational purposes only.
By the ounce
At the time of writing on Wednesday, the price of gold was US$4,255, up from US$4,185.79 per ounce in our November 26th report, responding to weak economic data from China and the United States.
This week in gold
Other notable gold stories in this week’s report include Barrick’s US$1.09 billion sale of its Hemlo mining complex in Ontario to the newly listed Hemlo Mining (HMMC:TSXV), a junior miner now tasked with demonstrating that the land package remains untapped, despite yielding more than 25 million ounces since 1985.
Mark Trevisiol, president and chief executive officer (CEO) of McFarlane Lake Mining (CSE:MLM), also sat down with Stockhouse’s Ricki Lee to set investor expectations about its flagship Juby gold project in the Abitibi Greenstone Belt, with leadership confident in the current 4.2-million-ounce resource vastly under-representing the project’s full potential. The junior gold stock has added 100 per cent year-over-year.
Finally, we turn to Nevada gold explorer North Peak Resources (TSXV:NPR), whose ongoing drilling program at its Prospect Mountain property is following up on channel samples grading up to 90.4 grams per ton of gold. The property, located in the prolific Battle Mountain Eureka trend, is guided by the founding team behind Rupert Resources and generational mining success story Kirkland Lake Gold. Shares have added 30 per cent year-over-year.
Top trending gold stocks
- New Found Gold (TSXV:NFG) | 21,700+ views.
- Tudor Gold (TSXV:TUD) | 9,600+ views.
- West Red Lake Gold Mines (TSXV:WRLG) | 6,500+ views.
- Monument Mining (TSXV:MMY) | 5,000+ views.
- Laurion Mineral Exploration (TSXV:LME) | 4,600+ views.
- B2Gold (TSX:BTO) | 3,500+ views.
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