Mainholm, Barrick is a $24b company. How does selling a mine for $25m improve its debt position? If its a cash generative mine, as NST claims, then doesn't Barricks credit profile get worse? Perhaps its not cash generative at any meaningful level and that's why Barrick say they are selling assets to improve cash flow!!
Even if Barrick were desperate sellers, which they clearly aren't, but if, it still remains that there were no other buyers above $25m for this jewel. It was publicly for sale for some time. I will stick around out of interest to see what kind of numbers a $25m mine comes up with.
I think NST have just made a big bet on gold prices rising. They issued millions of extra shares to extend the value of that option. That is just in case the price didn't move or went down first. Its working so far and the stock reflects that but its probably best to be honest with yourself about what is really going on here.
Mainholm, Barrick is a $24b company. How does selling a mine for...
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Last
$13.00 |
Change
-0.010(0.08%) |
Mkt cap ! $14.94B | |||
| Open | High | Low | Value | Volume |
| $13.06 | $13.07 | $12.97 | $72.66M | 5.575M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 262060 | $13.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.01 | 3144 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| NST (ASX) Chart |