Barrick Gold completes merger with Randgold Resources; trades under the ticker GOLD

• The Canadian Barrick Gold (ABX) has merged with the British Randgold Resources (GOLD) on January 1, 2019.  
• The new company is still known as Barrick but its trading symbol on the NYSE will change to GOLD, the ticker formerly held by Randgold on NASDAQ. On the TSX, the ticker remains ABX.
• Gold miners' bearish cycle may have ended in mid-October. The probability of a golden cross occurring in early 2019 is now significantly high.

Barrick Gold (ABX) (old)

Barrick Gold (GOLD) (new)

 

Golden cross on $GOLD

It's the first bell of 2019, and the NYSE is celebrating the successful merger between Barrick Gold with Randgold Resources with their new ticker $GOLD

Barrick executive chairman John L. Thornton (center), and Mark Bristow, president and chief executive officer (center left), open the New York Stock Exchange on January 2, 2019. 

• The $18.3 billion-deal, which gained final approval in December, has created a sector-leading miner which owns five of the industry’s Top 10 Tier One gold assets and which is well placed to be the world’s most valued gold mining business, Barrick said in the statement.

The merger has created a sector-leading gold company which owns five of the industry’s Top 10 Tier One gold assets1 (Cortez and Goldstrike in Nevada, USA (100%); Kibali in DRC (45%); Loulo-Gounkoto in Mali (80%); and Pueblo Viejo in Dominican Republic (60%)), and two with the potential to become Tier One gold assets (Goldrush/Fourmile (100%) and Turquoise Ridge (75%), both in the USA). Barrick has the lowest total cash cost2 position among its senior gold peers3, and a diversified asset portfolio positioned for growth in many of the world’s most prolific gold districts.

Barrick approach community relations in Nevada (source)

The Summer Youth Employment Program, a Barrick-funded initiative, allows Shoshone youth aged 14 to 18 to gain valuable work experience in their communities. This past summer alone, 136 students participated in the program, performing jobs ranging from painting to community maintenance to elder care.

Shoshone interns. In all, Barrick provided funding for 18 Shoshone summer interns to work in their communities this past summer.

Rebecca Darling is Director of Corporate Social Responsibility for Barrick in the U.S.A.