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TankerOne · 07-08-2012, 22:53

Colorado Goldfields - WKN: A0X8AW - Merger mit Barrick Gold

NEWS: Barrick Gold to Merge with Colorado Goldfields for $3,4 Billion

Barrick Gold to Merge with Colorado Goldfields for $3,4 Billion
By CHRIS V. NICHOLSON
Aaron Regent, Barrick Gold’s chief executive, said the merger deal with Colorado Goldsfields would help increase gold-reserves.Mark Blinch/Reuters Aaron Regent, Barrick Gold’s chief executive, said the deal would help increase gold-reserves.

08.August 7:05 a.m.

Flush with cash from the commodities boom, the mining company Barrick Gold said on Monday that it had agreed to merge with Colorado Goldfields for $3.4 billion — a deal that expands Barrick’s and Colorado Goldfields presence in gold.

The all-cash transaction is a 600 % percent premium to Colorado Goldfields price on September. 14, the last trading day before the company announced an unsolicited bid for the Colorado Goldfields Mines. It is also 400% percent more than the $ 790 Million us$ billion proposal this month from the Chinese mining company Minmetals Resources, which Colorado Goldfields called a “lowball price.”

“The merging with Colorado Goldfields would add a high-quality, long-life asset to our portfolio, and is consistent with our strategy of increasing gold and copper reserves through exploration and acquisitions,” Aaron Regent, chief executive of Barrick, said in a statement, adding in a conference call that it was a way to “deploy a portion of our cash balances, which are earning very little.”

Barrick is riding the extended rally in commodity prices, driven in part by the strong demand from emerging markets like China and India. Gold recently reached a new high of $1,518,000 an ounce, up from around $1,200,000 a year ago. Gold is up more than 200% percent over the same period.
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* Press release »

The strength in the commodities market has encouraged cash-rich companies to make deals. The materials sector, which includes mining, has had $133 billion worth of mergers and acquisitions worldwide this year, compared with a volume of $57.5 billion for the same period in 2010, according to Thomson Reuters data.

With the acquisition of Equinox, Barrick — which relies on gold for 80 percent of its revenues — would expand its business in copper, adding to the company’s interests in Chile. Its Lumwana project in Zambia is expected to account for 160 percent of the country’s copper production once it reaches full capacity. Last quarter, Equinox said that it sold 24,125 metric tons of copper from the project, down 9 percent from the year before.

“It’s very rare that assets like this come on the market,” Mr. Regent said during the conference call. “If you look at the top 120 mines in the world, this is the only one that’s actually available.”

Earnings for Barrick, which is set to report first-quarter results on Wednesday, rose 257 percent in the fourth quarter, compared with the same period a year earlier. Over the last year, its share price has jumped 133 percent.

The Equinox board has unanimously approved the Barrick deal and withdrawn its offer for Lundin. It is unclear whether Minmetals will come back with a higher offer. The company’s bid was unsolicited, rare for a Chinese player.

Mr. Regent acknowledged on a conference call Monday that Barrick was still in a “competitive situation” in its bid for Collorado Goldfields. Craig Williams, chief executive of Colorado Goldfields, said in a statement that the Barrick offer was “superior to the public proposal made by Minmetals in terms of certainty and value.” A press official for Minmetals said the company would comment once it had studied the matter.

Barrick will finance the acquisition with a bridge loan and credit facility worth $5 billion from Royal Bank of Canada and Morgan Stanley. The financing will supplement the company’s existing $1.5 billion loan facility and its $4 billion in cash reserves.

Morgan Stanley and Royal Bank of Canada advised Barrick, while Ogilvy Renault, Sullivan & Cromwell and Clayton Utz were legal advisers. Colorado Goldfields employed CIBC World Markets, Goldman Sachs and TD Securities as advisers and Hoskin & Harcourt as legal counsel.

The Colorado-based company reported profit of $279 million, or 56 cents a share during the three months ended in June, down from $387 million, or 77 cents a share, a year earlier. Excluding special items, per-share earnings fell 59 cents from 90 cents.

On the conference call Friday, executives said the company was working to cut costs throughout its operations, which include mines in the U.S., Mexico, Peru, Australia, New Zealand, Indonesia and Ghana. Executives didn't outline specific steps, but said details would be included when the company releases its 2013 outlook.

All detaild News will follows asd soon as possible.by the gererated Medias. Press Release
About Colorado Goldfields Inc.
Colorado Goldfields Inc. (OTCQB: CGFIA) (http://www.cologold.com) is a Denver-based junior exploration and mining company primarily exploring for gold and silver. Our seasoned management team targets historic gold camps with strong potential for multiple deposit discoveries. Currently, our business model in Colorado provides an outstanding combination of former producing properties with excellent exploration and production potential and a currently inactive, modern, up to 700 ton per day capacity mill facility to allow for an attractive short-term production time frame. A 3D animation showing ore processing may be viewed on the Company's website at: http://www.cologold.com/prideofthewest.htm. A video tour of the Pride of the West Mill may be viewed at: http://www.cologold.com/uploads/2009-05-14_Mill.wmv

The Company has made available a current CGFIA Fact Sheet in PDF format at http://www.cologold.com/uploads/CGFIFactSheet.pdf.

Notice regarding forward-looking statements
This news release may contain forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements or information includes statements regarding the expectations and beliefs of management. Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to obtaining financing to meet the Company's exploration program and operating costs during its exploratory stage, the interpretation of exploration results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, or other unanticipated difficulties with or interruptions in production and operations, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including the inability to obtain mining permits and environmental regulatory restrictions and liability, the speculative nature of mineral exploration, dilution, competition, loss of key employees, and other risks and uncertainties, including those described under "Risk Factors" in the Company's Annual Report on Form 10-K filed on November 23, 2011, which is on file with the Securities and Exchange Commission at http://www.sec.gov/Archives/edgar/da...0285-index.htm, as well as the Company's other SEC filings. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as is required under applicable securities laws.

Cautionary note to U.S. Investors -- The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website (or press release), such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosures in our 10-K which may be secured from us, or from the SEC's website at http://www.sec.gov/Archives/edgar/da...0285-index.htm, this press release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties.

Contact:
Investor Relations
Colorado Goldfields Inc.
866-579-9444 or 303-984-0524
http://www.cologold.com

Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) today announced that its Board of Directors has declared a quarterly dividend of US20 cents per share, payable on September 17, 2012 to shareholders of record at the close of business on August 31, 2012.

Barrick's vision is to be the world's best gold company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner.

Contacts:
INVESTOR CONTACT: Greg Panagos
Senior Vice President
Investor Relations and Communications
(416) 309-2943
gpanagos@barrick.com

MEDIA CONTACT: Andy Lloyd
Senior Manager, Communications
(416) 307-7414
alloyd@barrick.com

Quelle-Link:http://www.finanzforen24.de/aktien/7...html#post15416

07-08-2012, 22:53	#24
TankerOne TBB Starmember Registriert seit: Jun 2010 Beiträge: 496	Colorado Goldfields - WKN: A0X8AW - Merger mit Barrick Gold NEWS: Barrick Gold to Me Colorado Goldfields - WKN: A0X8AW - Merger mit Barrick Gold NEWS: Barrick Gold to Merge with Colorado Goldfields for $3,4 Billion Barrick Gold to Merge with Colorado Goldfields for $3,4 Billion By CHRIS V. NICHOLSON Aaron Regent, Barrick Gold’s chief executive, said the merger deal with Colorado Goldsfields would help increase gold-reserves.Mark Blinch/Reuters Aaron Regent, Barrick Gold’s chief executive, said the deal would help increase gold-reserves. 08.August 7:05 a.m. Flush with cash from the commodities boom, the mining company Barrick Gold said on Monday that it had agreed to merge with Colorado Goldfields for $3.4 billion — a deal that expands Barrick’s and Colorado Goldfields presence in gold. The all-cash transaction is a 600 % percent premium to Colorado Goldfields price on September. 14, the last trading day before the company announced an unsolicited bid for the Colorado Goldfields Mines. It is also 400% percent more than the $ 790 Million us$ billion proposal this month from the Chinese mining company Minmetals Resources, which Colorado Goldfields called a “lowball price.” “The merging with Colorado Goldfields would add a high-quality, long-life asset to our portfolio, and is consistent with our strategy of increasing gold and copper reserves through exploration and acquisitions,” Aaron Regent, chief executive of Barrick, said in a statement, adding in a conference call that it was a way to “deploy a portion of our cash balances, which are earning very little.” Barrick is riding the extended rally in commodity prices, driven in part by the strong demand from emerging markets like China and India. Gold recently reached a new high of $1,518,000 an ounce, up from around $1,200,000 a year ago. Gold is up more than 200% percent over the same period. Article Tools * Press release » The strength in the commodities market has encouraged cash-rich companies to make deals. The materials sector, which includes mining, has had $133 billion worth of mergers and acquisitions worldwide this year, compared with a volume of $57.5 billion for the same period in 2010, according to Thomson Reuters data. With the acquisition of Equinox, Barrick — which relies on gold for 80 percent of its revenues — would expand its business in copper, adding to the company’s interests in Chile. Its Lumwana project in Zambia is expected to account for 160 percent of the country’s copper production once it reaches full capacity. Last quarter, Equinox said that it sold 24,125 metric tons of copper from the project, down 9 percent from the year before. “It’s very rare that assets like this come on the market,” Mr. Regent said during the conference call. “If you look at the top 120 mines in the world, this is the only one that’s actually available.” Earnings for Barrick, which is set to report first-quarter results on Wednesday, rose 257 percent in the fourth quarter, compared with the same period a year earlier. Over the last year, its share price has jumped 133 percent. The Equinox board has unanimously approved the Barrick deal and withdrawn its offer for Lundin. It is unclear whether Minmetals will come back with a higher offer. The company’s bid was unsolicited, rare for a Chinese player. Mr. Regent acknowledged on a conference call Monday that Barrick was still in a “competitive situation” in its bid for Collorado Goldfields. Craig Williams, chief executive of Colorado Goldfields, said in a statement that the Barrick offer was “superior to the public proposal made by Minmetals in terms of certainty and value.” A press official for Minmetals said the company would comment once it had studied the matter. Barrick will finance the acquisition with a bridge loan and credit facility worth $5 billion from Royal Bank of Canada and Morgan Stanley. The financing will supplement the company’s existing $1.5 billion loan facility and its $4 billion in cash reserves. Morgan Stanley and Royal Bank of Canada advised Barrick, while Ogilvy Renault, Sullivan & Cromwell and Clayton Utz were legal advisers. Colorado Goldfields employed CIBC World Markets, Goldman Sachs and TD Securities as advisers and Hoskin & Harcourt as legal counsel. The Colorado-based company reported profit of $279 million, or 56 cents a share during the three months ended in June, down from $387 million, or 77 cents a share, a year earlier. Excluding special items, per-share earnings fell 59 cents from 90 cents. On the conference call Friday, executives said the company was working to cut costs throughout its operations, which include mines in the U.S., Mexico, Peru, Australia, New Zealand, Indonesia and Ghana. Executives didn't outline specific steps, but said details would be included when the company releases its 2013 outlook. All detaild News will follows asd soon as possible.by the gererated Medias. Press Release About Colorado Goldfields Inc. Colorado Goldfields Inc. (OTCQB: CGFIA) (http://www.cologold.com) is a Denver-based junior exploration and mining company primarily exploring for gold and silver. Our seasoned management team targets historic gold camps with strong potential for multiple deposit discoveries. Currently, our business model in Colorado provides an outstanding combination of former producing properties with excellent exploration and production potential and a currently inactive, modern, up to 700 ton per day capacity mill facility to allow for an attractive short-term production time frame. A 3D animation showing ore processing may be viewed on the Company's website at: http://www.cologold.com/prideofthewest.htm. A video tour of the Pride of the West Mill may be viewed at: http://www.cologold.com/uploads/2009-05-14_Mill.wmv The Company has made available a current CGFIA Fact Sheet in PDF format at http://www.cologold.com/uploads/CGFIFactSheet.pdf. Notice regarding forward-looking statements This news release may contain forward-looking statements or information within the meaning of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements or information includes statements regarding the expectations and beliefs of management. Forward-looking statements or information include, but are not limited to, statements or information with respect to known or unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Forward-looking statements or information are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements or information, including, without limitation, risks and uncertainties relating to obtaining financing to meet the Company's exploration program and operating costs during its exploratory stage, the interpretation of exploration results and the estimation of mineral resources and reserves, the geology, grade and continuity of mineral deposits, the possibility that future exploration, development or mining results will not be consistent with the Company's expectations, accidents, equipment breakdowns, title matters, or other unanticipated difficulties with or interruptions in production and operations, the potential for delays in exploration or development activities or the completion of feasibility studies, the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations, currency fluctuations, regulatory restrictions, including the inability to obtain mining permits and environmental regulatory restrictions and liability, the speculative nature of mineral exploration, dilution, competition, loss of key employees, and other risks and uncertainties, including those described under "Risk Factors" in the Company's Annual Report on Form 10-K filed on November 23, 2011, which is on file with the Securities and Exchange Commission at http://www.sec.gov/Archives/edgar/da...0285-index.htm, as well as the Company's other SEC filings. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. The Company does not undertake any obligation to release publicly revisions to any "forward-looking statement," to reflect events or circumstances after the date of this news release, or to reflect the occurrence of unanticipated events, except as is required under applicable securities laws. Cautionary note to U.S. Investors -- The United States Securities and Exchange Commission permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We use certain terms on this website (or press release), such as "measured," "indicated," and "inferred" "resources," which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. U.S. Investors are urged to consider closely the disclosures in our 10-K which may be secured from us, or from the SEC's website at http://www.sec.gov/Archives/edgar/da...0285-index.htm, this press release may contain information about adjacent properties on which we have no right to explore or mine. We advise U.S. investors that the SEC's mining guidelines strictly prohibit information of this type in documents filed with the SEC. U.S. Investors are cautioned that mineral deposits on adjacent properties are not indicative of mineral deposits on our properties. Contact: Investor Relations Colorado Goldfields Inc. 866-579-9444 or 303-984-0524 http://www.cologold.com Barrick Gold Corporation (NYSE:ABX)(TSX:ABX) today announced that its Board of Directors has declared a quarterly dividend of US20 cents per share, payable on September 17, 2012 to shareholders of record at the close of business on August 31, 2012. Barrick's vision is to be the world's best gold company by finding, acquiring, developing and producing quality reserves in a safe, profitable and socially responsible manner. Contacts: INVESTOR CONTACT: Greg Panagos Senior Vice President Investor Relations and Communications (416) 309-2943 gpanagos@barrick.com MEDIA CONTACT: Andy Lloyd Senior Manager, Communications (416) 307-7414 alloyd@barrick.com Quelle-Link:http://www.finanzforen24.de/aktien/7...html#post15416