(Adds details, in U.S. dollars unless noted)
TORONTO, Dec 2 (Reuters) - Barrick Gold (ABX.TO: Quote, Profile, Research, Stock Buzz) is looking atmaking acquisitions but will take a cautious approach, the company's chieffinancial officer said on Tuesday.
Speaking at an investment conference, CFO Jamie Sokalsky said valuations forboth companies and projects have become exceptionally cheap.
"I think we're going to be looking at just about everything in themarketplace," he said in response to an audience question about the company'sview on acquisitions.
Tight credit markets, falling stock prices, and shaky commodity prices havecooled what had been a hot mining M&A market coming into this year.
But with a cash position of more than $1.7 billion as of Sept. 30 and recentsuccess in obtaining credit -- the company did a $1.25 billion bond offering inSeptember -- Barrick is in a stronger position than most to take advantage ofbeaten-down asset prices.
Some have speculated Barrick could emerge as a potential buyer forcash-strapped NovaGold (NG.TO: Quote,Profile, Research, Stock Buzz), or for itsshare in the massive Donlin Creek gold project in Alaska. Barrick and NovaGoldare 50/50 partners on the venture. Barrick also unsuccessfully tried to acquireNovagold in 2006.
Asked about the status of Barrick's Pascua Lama project, which straddles theborder of Argentina and Chile and has been held up in a tax dispute, Sokalskysaid the company has been making slow progress.
"We're still not there yet, but we're a lot further along than we were a fewmonths ago," he said.
The company's shares were up C$1.82, or 5.6 percent at C$34.47 on the TorontoStock Exchange, moving roughly in line with a 6.3 percent rise in global goldstocks. (Reporting by Cameron French; Editing by Frank McGurty)