Barrick Gold: the search for the nearest Kibali mine has begun!

Gold giant Barrick Gold (WKN 870450) expects its Kibali gold mine in the Democratic Republic of the Congo (DRC) to hit the upper end of the forecast range in 2020, according to CEO Mark Bristow.

Kibali is the first underground gold mine to be constructed in the DRC and is forecast to produce 340,000 to 370,000 ounces of gold this year. In the third quarter that has just ended, Kibali also set a record for the amount of ore extracted underground. For the first time since the shaft was picked in 2018, the target performance was exceeded.

Barrick also stated that a world-class (Tier 1) mine is capable of producing at least 500,000 ounces of gold per year for at least ten years – at the lower end of the industry average.

According to CEO-Bristow, the aim is to extend the expected life of the Kibali mine through exploration in the vicinity of the known deposits by replacing the exploited reserves. But, it was said, the exploration teams from Barrick are already looking for the “next Kibali [-Mine]“In the DRC.

Loncor Resources joint venture

Although this is not directly mentioned in the press release of the industry giant, one can assume that the joint venture will also be involved in this Loncor Resources (WKN A2PSPG / TSX LN) is meant! In 2016, Barrick secured access to Loncor properties in the Ngayu gold belt, which has several deposits with similar lithology, weathering and structures as Kibali.

Barrick has completed a variety of exploration work on these project areas over the past several years, culminating in the commencement of drilling on six priority targets in the joint venture areas in late June! Drill results here may not be too distant and may bring some movement to Loncor’s course. (Click here for more information on Loncor!)

We keep the readers of up to date!

Risk warning: GOLDINVEST Consulting GmbH offers editors, agencies and companies the opportunity to post comments, analyzes and messages to publish. This content serves exclusively to inform the reader and does not represent any kind of call for action, neither explicitly nor implicitly are they to be understood as a guarantee of possible price developments. Furthermore, they are in no way a substitute for individual, expert investment advice, rather they are advertising / journalistic texts. Readers who make investment decisions or carry out transactions on the basis of the information provided here act entirely at their own risk. The acquisition of securities involves high risks that can lead to the total loss of the capital invested. GOLDINVEST Consulting GmbH and its authors expressly exclude any liability for financial loss or the content guarantee for the topicality, correctness, appropriateness and completeness of the articles offered here. Please take note of our Terms of Use.

According to Section 34b WpHG and Section 48f Paragraph 5 BörseG (Austria), we would like to point out that partners, authors and / or employees of GOLDINVEST Consulting GmbH can hold shares in Loncor Resources and thus a conflict of interest could exist. Furthermore, we cannot rule out that other stock market letters, media or research firms will discuss the values ​​we have discussed during the same period. Therefore, symmetrical generation of information and opinions can occur during this period. Furthermore, there is a consulting or other service contract between GOLDINVEST Consulting GmbH and a third party in the issuer’s warehouse (Loncor Resources), which creates a conflict of interest, especially since this third party provides GOLDINVEST Consulting GmbH for a fee for reporting on Loncor Resources rewarded. This third party may also hold, sell or buy shares in the issuer and would benefit from an increase in the price of Loncor Resources’ shares. This is another conflict of interest.

Note: PERSONAL-FINANCIAL.COM publishes analyzes, columns and news from various sources in this section. PERSONAL-FINANCIAL.COM AG is not responsible for content that is recognizable as being posted by third parties in the “News” area of ​​this website and does not adopt it as its own. This content can be identified in particular by a corresponding “from” label below the article heading and / or by the link “To read the full article, please click here.”; The named third party is solely responsible for this content.


Related Articles

Back to top button