Below is not related directly to PXX and comes directly from Barrick atricle. Dated August 2022. On the hunt for new opportunities. Better drive up the road and have a look at our operation and results I think.
Barrick Board Visits NGM to View Growth PipelinePress release
ELKO, NEVADA - Three years after the formation of the joint venture that created the world’s largest gold mining complex, Nevada Gold Mines (NGM) is stepping out on its next growth phase by identifying new opportunities for discoveries and additions, Barrick president and chief executive Mark Bristow said here today.
Nevada Gold Mines is 61.5% owned and operated by Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) with Newmont Corporation owning the rest.
Speaking during a visit by Barrick’s board of directors to view developments at the complex firsthand, Bristow said NGM stood out from the rest of the industry not only for its size but because a wealth of projects and prospects secure its future as a high-quality, long-life operation for decades to come.
Over the past three years, NGM has worked relentlessly to unlock synergies by consolidating mines, teams, processing facilities and landholdings. In its short life, NGM has produced 10 million ounces of gold and substantial free cash flow (on a 100 % basis). Greatly improved knowledge of the orebodies has supported robust 10-year plans and has increased the pre-merger life of mine substantially.
At the existing operations, brownfields exploration is replacing reserves depleted by mining and identifying new targets while the greenfields team is hunting further afield for a new Tier One1 discovery.
NGM’s future flagship development will be the Goldrush project adjacent to Cortez, which is subject to an environmental review by the Bureau of Land Management and other cooperating agencies, including public comment and input. It is a world-class underground deposit with a life of mine plan2 in excess of 20 years and is expected to employ 500 people during construction and 570 during operation.
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