RE: Takeover targetsI like this part of the report...could point right at Currie Rose if the cards fall properly.
TGR: In March,
Barrick Gold Corporation (NYSE:ABX; TSX:ABX) spun out its African assets into
African Barrick Gold plc (LSE:ABG). Is that company looking to expand its project pipeline and production profile in Africa?
NS: Yes, and I think it's just about time because it had some level of production from its mines in Tanzania, but that has not been smooth. I think the company revised guidance downward on that twice this year, and that's had an impact on the stock. People are waiting for African Barrick to tell investors where the growth is going to come from.
I see them as potential acquirers, and that adds to the list of companies who are looking in West Africa. I don't see a significant team of geologists in African Barrick that can start looking at the grassroots projects and build upward. Obviously, if it had those people, it would take a lot more time to get the growth that it is seeking.