Saracen bets $1.1b on gold mine

Original article by Peter Ker, Brad Thompson
The Australian Financial Review – Page: 16 : 19-Nov-19

Saracen Mineral Holdings MD Raleigh Finlayson believes that gold production at Kalgoorlie’s Superpit will continue for many years, noting that much of the mineralisation to the south of the mine has yet to be explored. Saracen will fund its $1.1bn acquisition of Barrick Gold’s 50 per cent stake in the mine via a $796m capital raising and a $450m debt facility. The gold price was trading at around $US1,467 an ounce on 18 November.

CORPORATES
SARACEN MINERAL HOLDINGS LIMITED – ASX SAR, BARRICK GOLD CORPORATION, NEWMONT MINING CORPORATION, VAN ECK ASSOCIATES CORPORATION, WROXBY PTY LTD

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