RE:Mark Bristow CEO Barrick
Global1966 wrote: I dont think there is one project in Canada that fits our criteria
-500,000 ounces for 10 years
-In the bottom half of the cost curve
Interesting. He forgot cheaply undervalued.
Kettell should send him a few reminders.
Well I can think of two companies that fit that criteria or are very close to getting there. They are SGD and NFG. Both have great gold projects in Canada. This statement made by the CEO of Barrick was made about a year ago if I remember correctly when GBR was bought out. He didn't have much good to say about that particular project at the time and was on record saying he thought Kinross overpaid for the project. I don't share his viewpoint.
I feel companies like New Found Gold and SGD are taking the right approach. You get a large land position in the right rocks and you drill baby drill and you will be well rewarded. There are other projects that meet his criteria but the issue is Barrick doesn't want to pay up for a great project that can deliver 500k ounces a year like Arequipa gave them in Peru. Luckily he wasn't CEO back at that time when Barrick bought them out with very few holes into the deposit because he would have passed on that one as well. I'm not a fan of him badmouthing other projects publicly.