Barrick Gold Decides to Sell its Stake in Skeena Resources
The gross consideration for the common shares consists of cash in the aggregate amount of C$132,468,750.
SEATTLE (Scrap Monster): Barrick Gold Corporation has decided to sell its stake in Skeena Resources for C$132.4 million or C$15 per common share.
According to company press release, it has entered into a purchase and sale agreement with a Canadian investment dealer, whereby the latter will purchase 8,831,250 common shares of Skeena Resources Ltd. for resale on a bought deal basis. The gross consideration for the common shares consists of cash in the aggregate amount of C$132,468,750.
ALSO READ:
Barrick Gold Aims to Boost Copper Output From Central Africa
Barrick Gold Concluded Long-Pending Dispute with Pakistan
Prior to the closing of the disposition, Barrick will have beneficial ownership of, or control and direction over, 8,831,250 common shares of Skeena, representing approximately 12.9% of the issued and outstanding common shares of Skeena. Also, following the closing of the disposition, Barrick will not have beneficial ownership of any of Skeena’s issued and outstanding common shares.
The company noted that it is proceeding with the disposition for investment portfolio management purposes. It may acquire securities of Skeena or dispose of some or all of the securities of Skeena that it may own at such time, depending on market conditions and other factors.
- Panama President Sees No Environmental Threat from Copper at Closed First Quantum Mine
- Consumers Sue Exxon, Dow, Others over Plastic Recycling Claims
- VLS Environmental Solutions Announces Acquisition of Clearfield MMG in Virginia
- December 19, 2024: Scrap Gold and Platinum Prices Dipped, Silver Up on the Index
Scrap Metal Prices
Copper Scrap | ||
Alternator | 0.40 | $US/Lb |
#1 Copper Bare Bright | 4.17 | $US/Lb |
Aluminum Scrap | ||
356 Aluminum Wheels (Clean) | 0.81 | $US/Lb |
6061 Extrusions | 0.71 | $US/Lb |
Steel Scrap | ||
#1 Bundle | 360.00 | $US/MT |
#1 Busheling | 380.00 | $US/MT |
Electronics Scrap |