New approval will lift Barrick gains

Article Excerpt

BARRICK GOLD, $21.02, is a buy. The miner (Toronto symbol ABX; TSINetwork Rating: Average) (www.barrick.com; Shares o/s: 1.8 billion; Market cap: $37.8 billion; Dividend yield: 4.1%) reports that it now has regulatory approval to start up the Goldrush underground mine at the Cortez Complex near Beowawe, Nevada. Goldrush is a part of the Nevada Gold Mines—a joint venture between Barrick and Newmont Corp.— and is operated by Barrick. The mine is expected to start production in 2024. It is forecast to produce 130,000 ounces of gold in 2024 and increase to about 400,000 ounces per annum by 2028. Barrick Gold is a Power Buy. Buy. …