Ex-Goldman Banker Emerges as Barrick Gold Dealmaker

Liezel Hill and Christopher Donville write for Bloomberg. 

Barrick logoA week before Barrick Gold Corp. (ABX) Chairman Peter Munk retires, his successor John Thornton is emerging as a dealmaker as the former Goldman Sachs Group Inc. banker pursues a bid to combine the two biggest gold miners.

Negotiations between Barrick and Newmont Mining Corp. broke off last week amid minor disagreements while leaving open the possibility that discussions could still resume, two people with knowledge of the matter said April 19.

The deal under discussion would have seen Thornton become executive chairman of the combined company while the chief executive officer would have been Gary Goldberg, who currently leads Newmont, the people said. Toronto-based Barrick’s CEO Jamie Sokalsky would have led a smaller gold producer spun off from the merged company, according to the people.

Thornton John BarrickThe proposed tie-up and its management reshuffle confirm Thronton’s elevation as Barrick’s most senior executive (image left added). The 60-year-old, who had no role in the mining industry until he joined the company’s board just over two years ago, is set to succeed Munk, Barrick’s 86-year-old founder, as chairman at the annual shareholders meeting next week. Leading a successful acquisition of Newmont (NEM), in what would be the biggest gold takeover, would set up Barrick to do further deals, including ones involving other commodities.

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Goldman Sachs: Kinross Gold No Longer Worth Selling

Barron's -- Goldman Sachs: Kinross Gold No Longer Worth Selling

Story at link above.  (More...) 

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Sprott - Ask the Expert – Koos Jansen

The Sprott team writes:  In this exclusive interview, Koos Jansen answers questions from our readers about the gold market and the Chinese gold market in particular.  (YouTube Audio below).

Continue reading "Sprott - Ask the Expert – Koos Jansen" »

Obama Faces Asia Allies Uncertain of U.S. Commitment

President Barack Obama’s trip to Asia this week brings him face-to-face with allies who have grown uncertain about his commitment to the region.

Even with the president’s pledge to continue “rebalancing” U.S. policy toward Asia, the region’s leaders have been unnerved by Obama’s focus on the crises inSyria and Ukraine, military budget cuts, and that the U.S. wants a new “great power relationship” with China that they worry will reduce Japan and other U.S. allies to second-class status.

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Japan Overhauls its Public Pension Fund

CHIKAFUMI HODO AND TAKAYA YAMAGUCHI for Rueters: 

Abe Shinzo(Reuters) - Japan overhauled the world's biggest public pension fund on Tuesday, appointing new committee members, in a push toward Prime Minister Shinzo Abe's goal of a more aggressive investment strategy.

The government announced a reshuffle of the Investment Committee of the $1.26 trillion Government Pension Investment Fund (GPIF), in line with Abe's drive to have the fund make riskier investments and rely less on low-yielding government bonds.

Global financial markets are keenly watching GPIF's investment strategy as the fund, bigger than Mexico's economy, is a huge investor and a bellwether for other Japanese institutional investors.

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What High Implied Gold Vol?

Noticed reports and mentions Monday of "high implied volatility for gold."  What high implied volatility, we ask? 

20140422Implied

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Type Pad Denial of Service Attack

The blog hosting service that hosts Got Gold Report has been under nearly continuous dedicated denial of service attack for five days.  We hope it will be resolved soon, but cannot know when it will be.  For now, this article explains the situation. 

SAY Media-Owned Blogging Platform Typepad Enters Day 5 Of On-And-Off DDoS Attacks

http://techcrunch.com/2014/04/21/say-media-owned-blogging-platform-typepad-enters-day-5-of-on-and-off-ddos-attacks/ 

Thank you for your paitence..

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What's Important - What the COMEX Participants Say or Do?

We read all kinds of commentary on the Web about the positioning of the large traders in gold futures on the COMEX bourse.  Rather than argue, let’s just point out something we think is pretty darn interesting if not telling. 

Continue reading "What's Important - What the COMEX Participants Say or Do? " »

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Wednesday, April 23, 2014

Ex-Goldman Banker Emerges as Barrick Gold Dealmaker

Liezel Hill and Christopher Donville write for Bloomberg. A week before Barrick Gold Corp. (ABX) Chairman Peter Munk retires, his successor John Thornton is emerging as a dealmaker as the former Goldman Sachs Group Inc. banker pursues a bid to combine the two biggest gold miners. Negotiations between Barrick and Newmont Mining Corp. broke off last week amid minor disagreements while leaving open the possibility that discussions could still resume, two people with knowledge of the matter

Continue reading "Ex-Goldman Banker Emerges as Barrick Gold Dealmaker" »

Goldman Sachs: Kinross Gold No Longer Worth Selling

Barrons -- Goldman Sachs: Kinross Gold No Longer Worth Selling Story at link above. (More...)

Continue reading "Goldman Sachs: Kinross Gold No Longer Worth Selling" »

Sprott - Ask the Expert – Koos Jansen

The Sprott team writes: In this exclusive interview,Koos Jansenanswers questions from our readers about the gold market and the Chinese gold market in particular. (YouTube Audio below).

Continue reading "Sprott - Ask the Expert – Koos Jansen" »

Tuesday, April 22, 2014

Precipitate Enters Final Stages of Concession Application for Additional Property in Dominican Republic

Vancouver, B.C. -- April 22, 2014-Precipitate Gold Corp.(the Company or Precipitate) (TSXV: PRG) is pleased to announce it has reached the important and concluding application stage of its Hato Nuevo property. In advance of a final concession grant, the Company has reached the penultimate Extracto stage in the application process. Known internally to Precipitate as the Hato Nuevo property, the concession application is officially named Los Pinalitos by Dominican Republic authorities.

Continue reading "Precipitate Enters Final Stages of Concession Application for Additional Property in Dominican Republic" »

Obama Faces Asia Allies Uncertain of U.S. Commitment

PresidentBarack Obama’s trip to Asia this week brings him face-to-face with allies who have grown uncertain about his commitment to the region. Even with the president’s pledge to continue “rebalancing” U.S. policy toward Asia, the region’s leaders have been unnerved by Obama’s focus on the crises inSyriaand Ukraine, military budget cuts, and that the U.S. wants a new “great power relationship” withChinathat they worry will reduceJapanand other U.S. allies to second-class status.

Continue reading "Obama Faces Asia Allies Uncertain of U.S. Commitment" »

Goldman Sachs Upgrades Gold/Silver Stocks to Neutral; Barrick (ABX) Upped to Buy

Goldman Sachs Upgrades Gold/Silver Stocks to Neutral; Barrick (ABX) Upped to Buy

Continue reading "Goldman Sachs Upgrades Gold/Silver Stocks to Neutral; Barrick (ABX) Upped to Buy" »

Japan Overhauls its Public Pension Fund

CHIKAFUMI HODOAND TAKAYA YAMAGUCHI for Rueters: (Reuters) -Japanoverhauled the worlds biggest public pension fund on Tuesday, appointing new committee members, in a push toward Prime Minister Shinzo Abes goal of a more aggressive investment strategy. The government announced a reshuffle of the Investment Committee of the $1.26 trillion Government Pension Investment Fund (GPIF), in line with Abes drive to have the fund make riskier investments and rely less on low-yielding governmentbonds. Global financialmarketsare keenly watching GPIFs investment

Continue reading "Japan Overhauls its Public Pension Fund" »

Aggressive on the Bid in Increments

Even blind hogs find acorns when people just throw out shares of perfectly good, but really small issurers in an uncertain market. Yep, youll find us on the bid for our share of the following if current trennds continue. Aggressively, in increments: CEM.V, CGT.V, GQC.V, PRG.V Vigorously: GUY, ORE.TO Hopefully at lower levels: DML.TO, FVI.TO, PVG.TO, SMF.TO, GPR.TO Selected Graphs: (Click on the links showing for the full size version.) CEM.V Tracking Graph (Aggressively) GQC.V Tracking Graph

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What High Implied Gold Vol?

Noticed reports and mentions Monday of high implied volatility for gold. What high implied volatility, we ask?

Continue reading "What High Implied Gold Vol? " »

Monday, April 21, 2014

Type Pad Denial of Service Attack

The blog hosting service that hosts Got Gold Report has been under nearly continuous dedicated denial of service attack for five days. We hope it will be resolved soon, but cannot know when it will be. For now, this article explains the situation. SAY Media-Owned Blogging Platform Typepad Enters Day 5 Of On-And-Off DDoS Attacks http://techcrunch.com/2014/04/21/say-media-owned-blogging-platform-typepad-enters-day-5-of-on-and-off-ddos-attacks/ Thank you for your paitence..

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Saturday, April 19, 2014

What's Important - What the COMEX Participants Say or Do?

We read all kinds of commentary on the Web about the positioning of the large traders in gold futures on the COMEX bourse. Rather than argue, let’s just point out something we think is pretty darn interesting if not telling.

Continue reading "What's Important - What the COMEX Participants Say or Do? " »

Why Rick Rule Says ‘Anti-gold Investors Will be Destroyed’

Gold has made its way down again, to around 1,300 per ounce this month. Rick Rule, Chairman of Sprott Global Resource Investments Ltd. says that a few years out, you will be happy you stuck with gold. For context to today’s downturn, look back at the great bull market for gold in the 1970s’. During that time, gold rose from $35 per ounce to around $200, and then came crashing down to around $100 per ounce. Weak

Continue reading "Why Rick Rule Says ‘Anti-gold Investors Will be Destroyed’ " »

Friday, April 18, 2014

Precipitate Featured in The Northern Miner - Juan de Herrera Shows all the Right Signs for Precipitate Gold

Juan de Herrera shows all the right signs for Precipitate Gold VANCOUVER – Its been exciting – there are a lot of good things going on here that just all seem to be aligning, said Precipitate Gold (TSXV: PRG) president and CEO Jeffery Wilson, in an interview in his Vancouver office. Wilson was discussing Precipitates Ginger Ridge gold target in the Dominican Republic, where the results of a recent geophysical survey align perfectly with surface soil and

Continue reading "Precipitate Featured in The Northern Miner - Juan de Herrera Shows all the Right Signs for Precipitate Gold" »

Why Energy is Catching the Market’s Eye

Frank Holmes,CEO and Chief Investment Officer,U.S. Global Investors writes: Over the last month the energy sector has outperformed the market, and as you can see in the chart below, has done so by 6.5 percent. Year-to-date the sector is beating the SP 500 Index by over 3 percent. In a spectacularly performing market during 2013, energy lacked some of the incredible performance seen throughout the other sectors, but recently it has turned up, catching the attention of

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Abenomics' Most Likely Achievement: Stagflation?

Stephen Harner writes for Forbes: The question—and risk—with “Abenomics” was never whether it could “whip deflation.” That was always both a foregone conclusion and diversion. The question and risk was whether Abenomics would produce mainly stagflation. The predecessor of Kuroda Hirohiko, the current (UK) Cambridge-trained, former Ministry of Finance bureaucrat, ultra-Keynesian Bank of Japan (BOJ) governor, was Shirakawa Masaaki, a career central banker whose monetary economics were honed at the University of Chicago. Shirakawa resigned as BOJ

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Thursday, April 17, 2014

COT Release on Good Friday

According to the release schedule on the CFTC web site, data for the COT week ending Tuesday, April 15, will be released tomorrow, Good Friday, April 18. See Release Schedule: http://www.cftc.gov/MarketReports/CommitmentsofTraders/ReleaseSchedule/index.htm Accordingly we will have our usual DCOT report tomorrow, but probably not at the usual time. Watch for it. Happy holidays.

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Wolfpack Gold Corp. and Timberline Resources Corporation Revise Merger

Reno, Nevada, April 17, 2014:Wolfpack Gold Corp.(TSX.V: WFP) (the Company)announced today that it has restructured its proposed merger with Timberline Resources Corporation (NYSE MKT: TLR; TSX-V: TBR)(“Timberline”)originally announced March 13, 2014.The transaction is now expected to be structured such that Timberline will acquire all of the outstanding shares of a Wolfpack subsidiary, which will hold all of Wolfpack’s current assets, other than its uranium holdings, in exchange for shares of common stock in the capital of Timberline

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Kaminak Reports Heap Leach Oxide Gold Recoveries of Greater than 85% on 6 inch Crushed Material from Coffee

Vancouver, B.C. – Kaminak Gold Corporation (KAM: TSX-V) wishes to announce additional, encouraging, column leach metallurgical results from bulk, course crush, surface oxide samples collected in 2013 at the Coffee Gold Project, 130 km south of Dawson City, Yukon. Gold recoveries between 85-88% were returned within a 100-150 day leach period from 6” crush samples collected from surface trenches at both Supremo and Latte. Corresponding samples crushed to 1” returned gold recoveries of 92% over the same

Continue reading "Kaminak Reports Heap Leach Oxide Gold Recoveries of Greater than 85% on 6 inch Crushed Material from Coffee" »

Timberline Amends Agreement to Acquire Assets of Wolfpack Gold

COEUR DALENE, IDAHO--(Marketwired - April 17, 2014) - Timberline Resources Corporation (NYSE MKT:TLR)(TSX VENTURE:TBR) (Timberline or the Company) announced today that it has restructured its proposed acquisition of Wolfpack Gold Corp. (TSX VENTURE:WFP) (Wolfpack) and has executed an Amended Letter of Intent (LOI) reflecting the revised terms. Timberlines acquisition of Wolfpack is expected to create a Nevada-focused gold exploration company with a substantial portfolio of quality assets in a world-class jurisdiction. Pursuant to the amended structure, Timberline

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Wednesday, April 16, 2014

Millrock Stakes Lisburne Zinc Project, Alaska

VANCOUVER, BRITISH COLUMBIA, March 16, 2014 - Millrock Resources Inc. (TSX-V: MRO) (Millrock or the Company) announces today that through staking it has acquired a large claim group in northwest Alaska that is prospective for large-scale zinc (+lead and silver) deposits.The claim blocks cover age-equivalent rock strata that are known to host the Red Dog district zinc-lead-silver deposits approximately 140 km to the southeast. Stream sediment samples collected by the United States Geological Survey indicate strong zinc

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Yamana Gold and Agnico Eagle Announce a Friendly Acquisition Agreement With Osisko Mining Corporation

C$8.15 per share offer provides superior shareholder value TORONTO, ONTARIO--(Marketwired - April 16, 2014) - YAMANA GOLD INC. (TSX:YRI)(NYSE:AUY) (Yamana), Agnico Eagle Mines Limited (NYSE:AEM)(TSX:AEM) (Agnico Eagle) and Osisko Mining Corporation (TSX:OSK)(FRANKFURT:EWX) (Osisko) are pleased to announce that they have entered into an agreement (the Agreement) pursuant to which Yamana and Agnico Eagle will jointly acquire 100% of Osiskos issued and outstanding common shares for a total consideration of approximately C$3.9 billion or C$8.15 per share. The

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Constantine to Acquire Major Land Package Surrounding the Palmer Copper-Zinc-Silver-Gold Project, Southeast Alaska

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 16, 2014) - Constantine Metal Resources Ltd. (TSX VENTURE:CEM) (Constantine or the Company) is pleased to announce the Company has been awarded the right to lease a 99,257 acre package of land (the Haines Block) for mineral exploration and development. The Haines Block is contiguous with and surrounds the Federal and State mining claims that make up the approximately 16,000 acre Palmer Property (Figure 1). Garfield MacVeigh, President and CEO states, We

Continue reading "Constantine to Acquire Major Land Package Surrounding the Palmer Copper-Zinc-Silver-Gold Project, Southeast Alaska" »

Pretium Resources Inc.: Brucejack Project Update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 16, 2014) - Pretium Resources Inc. (TSX:PVG)(NYSE:PVG) (Pretivm) is pleased to announce the following update on its activities underway and planned for 2014 at its high-grade gold Brucejack Project.

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Tuesday, April 15, 2014

Endeavour Silver Extends New High Grade Silver-Gold Mineralization in Villalpando-Asuncion Vein at El Cubo Mine Over 800 Metre Length

VANCOUVER, BRITISH COLUMBIA, Apr 15, 2014 (Marketwired via COMTEX) -- Endeavour Silver Corp.EXK-3.85%CA:EDR+2.11%announces that exploration drilling at the El Cubo mine in Guanajuato State, Mexico has extended the recently discovered high grade, silver-gold mineralized zone in the Asuncion area of the Villalpando vein system (V-Asuncion) to over 800 metres long, still open at depth and to the southeast for expansion.

Continue reading "Endeavour Silver Extends New High Grade Silver-Gold Mineralization in Villalpando-Asuncion Vein at El Cubo Mine Over 800 Metre Length" »

GoldQuest: 3,285 KM ZTEM Airborne Survey Completed for Tireo Project, Dominican Republic, Surrounding the Gold/Copper Romero Project

VANCOUVER, BC--(Marketwired - April 15, 2014) - GoldQuest Mining Corp. (TSX VENTURE: GQC) (FRANKFURT: M1W) (BERLIN: M1W) (GoldQuest or the Company) is pleased to announce that the Company has completed an airborne ZTEM geophysical survey covering its 100% owned Tireo Project, and has initiated its 2014 exploration program. Geotech Limited of Canada has flown 3,285 kilometers of flight lines, with investigation depths reaching 1.6 kilometers, allowing the Company to quickly and effectively evaluate the geological and mineral

Continue reading "GoldQuest: 3,285 KM ZTEM Airborne Survey Completed for Tireo Project, Dominican Republic, Surrounding the Gold/Copper Romero Project " »

ATAC Resources Ltd. Announces 2014 Exploration Program at the Rackla Gold Project, Yukon

April 15, 2014 - Vancouver, BC - ATAC Resources Ltd. (TSX-V:ATC) (ATAC or the Company) is pleased to provide an overview of its multiphase 2014 exploration and drilling program at its 100% owned Rackla Gold Project in east-central Yukon. ATACs Rackla Gold Project covers an area of 1,700 sq/km and hosts Canadas first Carlin-type gold discoveries. The project area is divided into two distinct trends: (i) the 50 km long Nadaleen Trend which hosts drill-confirmed Carlin-type mineralization

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Ivanhoe Mines' drilling program extends depths of rich zinc and copper zones at the Kipushi Mine in D.R. Congo

Review of previous drill holes indicates that tonnage and grade of the Big Zinc Discovery were understated in historical estimate. LUBUMBASHI, THE DEMOCRATIC REPUBLIC OF CONGO – Robert Friedland, Executive Chairman of Ivanhoe Mines (TSX: IVN), and Lars-Eric Johansson, Chief Executive Officer, announced today that early results from the companys underground diamond-drilling program at the Kipushi copper-zinc-germanium-lead and precious-metals mine have established significant down-dip extensions of the unmined high-grade Big Zinc Discovery. Ivanhoes drilling has extended the

Continue reading "Ivanhoe Mines' drilling program extends depths of rich zinc and copper zones at the Kipushi Mine in D.R. Congo" »

Monday, April 14, 2014

Accumulating Smaller Issuers 3

This is installment 3, picking up where installment 2 left off. This is the “sleeper installment.” The installment that contains our best guesses for the super sleepers looking ahead. And let’s start with one that is still snoozing even though it has put a lot of gold on the table. Columbus Gold (CGT.V), who is developing the Paul Isnard project in French Guiana having delivered a 43-101 compliant 5.3 million ounces of gold in 117 million tonnes

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Denison Mines Corp. Announces Definitive Agreement for Acquisition of International Enexco Limited

TORONTO, ONTARIO--(Marketwired - April 14, 2014) - Denison Mines Corp. (Denison or the Company) (TSX:DML)(NYSE MKT:DNN) is pleased to announce the signing of a definitive arrangement agreement (the Arrangement Agreement) with International Enexco Limited (IEC), pursuant to which Denison will acquire all of the issued and outstanding common shares of IEC (the IEC Shares) by way of a plan of arrangement (the Arrangement). The terms of Denisons acquisition are unchanged from those that were announced on March

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Fortuna reports record production of 1.5 million ounces of silver and 8,150 ounces of gold for first quarter 2014

Vancouver, April 14, 2014 - Fortuna Silver Mines, Inc. (NYSE: FSM) (TSX: FVI) (BVL: FVI) (Frankfurt: F4S.F) is pleased to announce first quarter 2014 production figures from its two operating mines in Latin America, the San Jose mine in Mexico and the Caylloma mine in Peru. The company produced 1.5 million ounces of silver, 8,150 ounces of gold plus base metal by-products. Fortuna is on schedule to produce 6 million ounces of silver and 32,300 ounces of

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The Original
Vulture Speculator

Trading gold, silver and mining shares since 1980 with a focus on taking advantage of volatility extremes, Gene Arensberg analyses the markets through a basket of technical and fundamental indicators and shares his findings from time to time here at Got Gold Report. Mr. Arensberg has been quoted in the Wall Street Journal, Dow Jones MarketWatch, USA Today and dozens of other news organizations.

"I've been a huge fan of Gene and his amazing work for years..."

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