Midas jumps on Barrick’s strategic backing

May 9, 2018

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The TSX-listed equity of Midas Gold jumped nearly 19% following an announcement by Barrick Gold that it will increase its position in the company to 19.9%.

Barrick sees the investment as a strategic move to gain access to the Stibnite gold project, in Idaho, which Barrick president Kelvin Dushnisky said offers a “compelling investment proposition”, with low geopolitical risk, potential for production of more than 300 000 oz of gold a year at competitive operating costs, and with added exploration upside.

Category: General