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Another U.S. precious metals miner goes foreign

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 By Michael Miller

03/07/2019  4:33PM

March 7, 2019 Breaking News 2:49 PM

Newmont Mining Corp. has rejected a proposal from Barrick Gold Corp. to merge the two companies. Newmont said a merger with Barrick poses a "significant risk" and was not in the company's best interest. Instead, Newmont decided to continue with its agreement to acquire Goldcorp.

Newmont CEO Gary Goldberg says it best unaltered. Quote:
“Our thorough review of Barrick’s unsolicited proposal and its associated risks has reaffirmed our conclusion that the combination of Newmont and Goldcorp represents the best opportunity to create value for Newmont’s shareholders and deliver industry-leading returns for decades to come,” “Unlike Barrick, Newmont Goldcorp will be centered in the world’s most-favorable mining jurisdictions and gold districts. The combination with Goldcorp is significantly more accretive to Newmont’s shareholders on all relevant metrics compared to Barrick’s proposal, even when factoring in Barrick’s own synergy estimates.”

While the hostile takeover by Barrick would have no potential impact on Sixteen to One, It is not a good move for our Country. Americans must get real about the topics of domestic natural resource production. There is so much yacking from children and their future due the sorry projections of our environment. Well, without domestic capabilities to produce the very required essences of life, the future will guided by others. Historical warfare does not lie
 By Michael Miller

02/22/2019  3:48PM

THIS IS INCREDIBLE……………………………………………………………………………………………………………………

Just received the following news:
February 22, 2019

Barrick Gold could soon be involved in a US$19-billion hostile bid for Newmont Mining, but the miner stated a decision has not yet been made.

According to the source quoted by The Globe and Mail, which has been noted as “familiar with the matter,” said Barrick is looking at Newmont for approximately US$19 billion in stock, in what could potentially be one of the largest-ever deals in mining history.

“Barrick Gold today confirmed that the company has reviewed the opportunity to merge with Newmont Mining in an all-share nil premium transaction. No decision has been taken at this time,” Barrick stated in a press release.

Any Comments?
 By Michael Miller

12/13/2018  12:34PM

I’m working on a future project for a project. I’m finding what I want and in the process reading old writings. You may enjoy some I read but not on the subject of my project. The following was written July 31, 2009 by Scoop. China was not getting much recognition for its economic shift to gold, the yuan and the declining influences of the all mighty US dollar. Today China is getting a lot of press. Are you seeing it in your publications?



“Slow morning in Alleghany but the following seems worth repeating.

China has gone crazy for gold.
In April the government's Foreign-Exchange Agency announced the purchase of an additional 16 MILLION ounces for state coffers.
A few months earlier, National Geographic Magazine reported that for the first time China had surpassed the U.S. as a buyer of gold jewelry.

But here's the amazing thing few investors realize...

What the Chinese government did for oil over the past decade... they are today doing for gold. This is a huge development. China is also one of the few countries in the world where known gold reserves are increasing... not shrinking.
In short, the Chinese government wants more gold. It realizes gold is one of the only buy-and-hold investments in the world right now. The Chinese have a lot of money to spend... nearly $2 Trillion according to a recent report in The New York Times.

The Ministry of Land and Resources has completely rewritten the country's mining laws (known as the Minerals and Resources Law) to encourage local and foreign companies to explore for and produce more gold. The government has also recently created the Shanghai Gold Exchange, to allow anyone to trade gold, on the open market, without government interference.

Twenty years ago, China produced an inconsequential amount of gold. Today, China is the #1 gold-producing nation in the world (a fact Scoop lacks multiple sources to support).

When it comes to gold mining in China, it's a whole different world than what is found in America or Canada. There's no such thing as a NI43-101 disclosure form for mining companies. Instead of a handful of giant companies running the industry (how global gold mining has evolved, especially in the US), it’s basically thousands of small operations scattered across the country.

In short, it's like the American Wild West. Ah, the American wild west; frontier freedom and frontier justice; pioneering spirit as defined by the California gold rush and the population and development of the west; exploiting the natural resources for the benefit of society; producing new wealth. Go, China, go!

As Mike has offered “The California gold belt is the most proven deposit with the fewest miners working it on earth.”

Scoop asks, “Why is the American investor asleep and ignoring gold and developing the gold assets of its oldest gold mining company?”

...

 

  
 
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