Educating MSX Stockholds and Public how to expose ABXTibby is right on target, exposing Government corruption with ABX.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=96217738 Chat Boards are not how defeat ABX. It is hard and aggressive work with Market Makers and Stockholders – plus silence by the BOD and Jorge while a Criminal Complaint moves forward. Like what Tibby just announced: Chile Mining Commission meetings today to discuss and make some sort of ruling on Pascua Lama. They met 2:30 pm Chile time so info of the meeting should be available soon!
https://www.camara.cl/trabajamos/comision_resultadodet.aspx?prmID=2014-04&prmT=Semana The best example for a game-plan in creating several ABX Class Action Lawsuits came when Kanco Stocholders signed an agreement with BJ, Jackholm & Olivier on a March 15, 2011 Joint Venture on the ABX Bullfrog mine (closed in 1999), I became very aggressive in exposing ABX to ABX Stockholders concerning civil rico charges with title evidence with Kanco Public Records and Press Releases (I am an ABX SH since 1994), which caused Peter Munk and Pat Garver to scramble and get stung with a Copper scam in Africa - Equinox Minerals (began operations in Zambia in 1996 -- at least 10 different companies failed in their attempts to develop the Lumwana project, which covers 2 major copper mines. April 25, 2011 $7.69 billion acquisition by ABX)
How much has been invested at the Pascua Lama Operation? All investments will go to MSX/Jorge Partnership because of the 2013 Criminal Complaint being heard in January, 2014. https://en.wikipedia.org/wiki/Equinox_Minerals The following is a great article showing how ABX Management since 2011 is like the Karenko/Scrannage/Mike Rossler scam with the Koch Brothers!
Barrick Gold In 2014: At The Bottom With A Bear Jan. 1, 2014 Barrick Gold (ABX) became the proverbial turkey on a Thanksgiving day in 2011 when they overpaid to acquire Equinox Minerals. The Black Swan surfaced insidiously soon after, failing Barrick's risk management at several levels. Layers of adverse factors (each one independently tolerable) have collided, dragging the stock to generational lows.
https://seekingalpha.com/article/1924041-barrick-gold-in-2014-at-the-bottom-with-a-bear?source=email_rt_mc_focus_2 Barrick's management, to its credit, has not let the crisis go to waste. It has used the opportunity to implement accounting impairments, sell assets, reduce debt, conserve cash, and initiate an array of unpalatable cost cutting measures. Analysts have generally agreed that the company is moving in the right direction. The company is steadily moving towards a lower cost structure, simplified asset base and an improved financial leverage.
In this article, I will make a conjecture on what we can expect from Barrick Gold in 2014. It is easy to look back on 2013 and predict the past; looking forward, I hope I can come up with the first approximation of the plausible outcome among the diverse outcomes that are possible.
Balance Sheet: Barrick, in a classic case of big bath accounting, had impaired assets worth $9.3 billion in 2013. This includes a $7.4 billion impairment that can be attributed to past hubris and stupidity, with the remaining $2 billion broadly being attributed to lower commodity prices. I expect additional impairment charges to be announced once the 2013 annual impairment review is completed.
Overall, the 2014 balance sheet will look much better with reduced debt, more equity, larger cash balance and fair priced assets.
Cash Flow: The company's free cash flow situation will change significantly in 2014. Though the operating cash flow will be down by over half a billion, the free cash flow will improve from negative to positive.
Income Statement: The total revenues will be lower by approximately one billion, which will be in line with the company's new mantra of returns driving production. However, the EPS will shift from being negative to positive, as the impact of one-time charges are relegated to the 2013 history books. The P/E ratio will expand from single digits in 2013 to low double digits in 2014 as the compressed valuations are released.
Stock performance: Since hitting nominal price lows in the 2nd quarter of 2013, ABX is shaping a convex chart. The mathematical property of convexity is that the upside potential is more than the downside risk.
For the past several months, ABX, despite dilution, has convincingly outperformed the precious metal sector (GDX, GDXJ) and its senior peer group that includes Goldcorp (GG), Kinross (KGC), Newmont (NEM), Randgold (GOLD), Anglogold Ashanti (AU) and Yamana Gold (AUY). Barrick now represents the good house in a bad neighborhood! I expect this trend to continue in 2014.
Elephant in the Room: Barrick's earnings are extremely sensitive to the price of the metal, as illustrated ABX’s own 2013 3rd Quarter results page 35.
In order for ABX to wrestle itself from the bear at the bottom of the muddy trench, gold prices have to be marginally bullish at the very least. Gold price predictions range from as low as 250 to as high as 10,000. Gold prices are a lot more labyrinthine than an analyst would lead you to believe. There are far too many obvious and hidden interdependencies, and some of them have complicated chains of consequences.
Keeping things simple, I believe that gold prices will resume their upward trend, as dharma, or fairness in the world prevails. The tug of war between the mighty powers in the West, and the poor farmers and plumbers in Asia (scrambling to combine their savings to buy the next half gram coin) will be settled in favor of the latter.
Conclusion: The price shock in Barrick and the precious metals sector in general, have caused a debilitating effect on the market participants. I believe that the business situation does not warrant the destruction of values that have taken place. ABX has low downside risk and high upside potential in 2014. Sir John Templeton advocated that a time of maximum pessimism is the best time to buy, and the present zone of generational lows is one such occasion. Though it is hard to apply a target price, Barron's selection of ABX as a favorite for 2014 will be amply justified.