US Stock Market Move | Barrick Mining (B.US) rose nearly 4% in pre-market trading, planning to conduct an IPO for its North American gold assets.
Barrick Mining will explore the possibility of an initial public offering for its gold assets in North America.
Barrick Mining (B.US) is planning to conduct an initial public offering (IPO) of its gold assets in North America as the Canadian mining company faces operational issues and cost overruns. The Barrick Mining board unanimously approved a plan by management to conduct an IPO of one of its divisions. This division will be based on Barrick Mining's joint venture interests in Nevada Gold Mines and Pueblo Viejo mines, as well as the company's wholly-owned Fourmile gold discovery project in Nevada. The company stated in a statement on Monday that the new company will issue a small portion of its stocks. As of the time of writing, the company's stock price rose nearly 4% in pre-market trading on Monday.
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