Barrick Is Cashing In on Gold's Record Rally With Asset Sales
For Barrick Gold Corp., one of the world's top bullion producers, the precious metal's blistering rally to record prices is looking like a great opportunity to raise some cash as the company looks to pivot harder into copper mining.
First, the company announced on Tuesday that it's exiting an Alaskan mining project by selling its 50% stake to billionaire John Paulson and Novagold Resources Inc. for $1 billion. Meanwhile, Barrick has also signaled more deals on the horizon as it seeks buyers for mines in Africa and North America.
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Alaska Sustainable Energy Conference 2025 left unspoken what Alaskans truly value
The Canning River, seen here in 2018, flows from the Brooks Range into the Beaufort Sea along the western edge of the Arctic National Wildlife Refuge. (Photo by Lisa Hupp/U.S. Fish and Wildlife Service) At the conclusion of the 2025 Alaska Sustainable Energy Conference much attention was given to profitability of fossil fuels, while far less was said about the meaning of 'sustainability' itself. In fact, both Alaskans and the principles of sustainability were notably absent from the conference's central themes and many of its attendees. From the outset, the federal government's priority appeared to be reassuring foreign interests of the United States' continued ability to sell off Alaska piece by piece. Conference organizers, led by Gov. Mike Dunleavy appeared eager as regulatory protections continue to be rolled back by the Trump administration. Federal officials, including U.S. Interior Secretary Doug Burgum, U.S. Energy Secretary Chris Wright, and Environmental Protection Agency Administrator Lee Zeldin, expressed strong support for the further weakening of environmental safeguards to unilaterally advance long-contested development projects across Alaska. Many attendees represented corporate interests excited to profit from new extraction opportunities or potential buyers, watching to see if the administration follows through on promises to mine Alaska's oil, gas, and critical minerals. These companies appeared enthusiastic to exploit the land with minimal oversight and a lack of local consent. The audience was left with a misleading impression of Alaskan support. At the center of ongoing and proposed projects, such as Red Dog mine, Graphite One, and Ambler Road, was the largest item for sale: a natural gas reservoir on the North Slope. The proposed Alaska liquid natural gas pipeline, currently led by the Alaska Gasoline Development Corp. and New York-based Glenfarne Group LLC, would extract natural gas from subsurface carbon and transport it 800 miles south to Nikiski for export. The estimated almost $40 billion project promises only temporary jobs and infrastructure. Environmentally, natural gas poses risks similar to coal and oil. It is composed primarily of methane, a potent greenhouse gas. Inevitable gas leaks during extraction and transportation can release up to 10% of methane before combustion, with the remainder ultimately emitted as carbon dioxide. These outcomes reflect outdated, combustion-based energy models. Regarding Alaska's wildlife and people, cabinet members seemed to dismiss concerns after brief visits, suggesting the animals are happy and that communities would benefit from further resource development despite evidence to the contrary. The 'resource curse' is a paradox that explains the economic dynamics of regions rich in natural resources, but limited in democratic representation. Extraction projects often introduce new workers, housing, and other infrastructure at great cost to local communities. Despite generating profits for corporate sponsors, these projects typically result in a net loss for the public. Workers are imported from out of state, while profits are exported. Local towns are then responsible for maintaining infrastructure without receiving corresponding benefits like revenue to support housing, health care or affordable energy. As finite resources are exhausted, companies maintain profit margins while community returns diminish. Once operations end, communities are often left with environmental damage and abandoned development, economically and socially worse off than before. Alaska's economy remains heavily reliant on oil and gas. As existing operations decrease in yield, public education and health care routinely face budgetary cuts. The natural gas reserve would only provide exports for a few decades, but its development would cause irreparable environmental damage, and leave Alaska facing another energy crisis within a generation. Why Gov. Dunleavy labeled this conference 'sustainable' remains unclear. It is unrealistic to claim the pipeline would benefit any of the roughly 190 communities beyond the Railbelt. While the state invests in LNG exports, rural towns reliant on diesel will face rising costs and health issues, including cancer risks. Regardless of one's stance on oil and gas, Chris Wright, the U.S. Secretary of Energy, himself stated: 'Energy… it's about people and math.' However, his equation solves for profit, while Alaska's equation for energy must begin and end with the voices and needs of the people. Scientists attending the summit this week in an official capacity were restricted to framing oil and gas as the primary development priority. This narrowed the conversation and sidelined discussions around advances in technology such as solar, wind, hydroelectric, and geothermal energy. Still, a handful of sustainability advocates attended as guests, business owners, protesters, and speakers. One speaker, Lesil McGuire, senior advisor with New Energy Alaska, an advocacy coalition that promotes renewable energy noted, 'Solar arrays can be propped up in a number of weeks.' As of 2020 solar energy has become cheaper to install and maintain than fossil fuels. Alaska needs energy infrastructure tailored to its unique environment, focused on long-term self reliance through renewable sources. Current examples include solar installations in the Northwest Arctic Borough, microgrid cooperatives, and heat pump incentives in Southeast Alaska. A cursory glance shows Alaska's capacity for renewable energy that could be faster to build and more cost effective than the LNG pipeline. In reality the conference didn't need to be held in Alaska, as Alaskans themselves played a minimal role. Led by Gov. Dunleavy, the 'Alaska Sustainable Energy Conference 2025' resembled government-backed promotion of the oil and gas industry and signaled extraction projects could move forward without oversight and regardless of local stakeholder's needs or opposition. International representatives seemed to be promised fuel for import, and out-of-state corporations appeared to be invited to profit at the expense of Alaska's environment. Renewable energy has been viable for decades and continues to become more efficient. Given a voice and a seat at the table, many Alaskans and Americans would likely favor local, self-sufficient renewables for lower prices and long-term reliability. Natural gas in Alaska will run out in this lifetime, do nothing to reduce costs in the majority of Alaskan communities, and may cause permanent harm to the environment. The United States and Alaska are not in need of a technological revolution in fossil fuels, but an information revolution in renewable energy. It is vitally important that all Alaskan voices are heard. Alaska values pristine wilderness, supports true sustainability, and is not for sale.
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5 days ago
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Next Gold Powerhouse Emerges as Prices Break Records
NetworkNewsWire Editorial Coverage NEW YORK, June 4, 2025 /CNW/ -- As gold surges to record highs above $3,000+ per ounce in May 2025 — outpacing the S&P 500, NASDAQ and even bitcoin—Wall Street's focus is shifting. With U.S. debt-to-GDP now exceeding 120% and real interest rates still historically negative, gold has reaffirmed its role as the market's most reliable hedge. But for institutional investors, bullion and ETFs aren't enough anymore. What they want now is leverage, scalability and cash flow. That's why the spotlight is turning toward a new class of near-term gold producers: companies with clean balance sheets, high internal rates of return (IRR) and operational models designed to scale and generate recurring revenue — companies like ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) (Profile). With central banks buying more gold than ever and financial markets hungry for sustainable exposure to the yellow metal, the next wave of institutional capital is hunting for precisely the kind of scalable, cash-flow-driven opportunity that ESGold offers. With its focus on offering investors a viable pathway to include gold in their portfolios, ESGold joins an elite group of companies — including BHP Group Limited (NYSE: BHP), Barrick Mining Corporation (NYSE: B) (TSX: ABX), Agnico Eagle Mines (NYSE: AEM) and Wheaton Precious Metals (NYSE: WPM) — that are committed to being leaders in the mining space. ESGold is based on a replicable growth model, built for scale and designed to overcome the high failure rate among junior miners. With funding in place, the company has begun on-site construction and assembly at Montauban. ESGold remains laser focused on achieving its dual-track strategy: near-term gold and silver production paired with district-scale exploration. Amid this forward momentum, ESGold remains constantly committed to clean-processing initiatives. Click here to view the custom infographic of the ESGold editorial. A Clear Path to Near-Term Production "The best place to go if your faith in the [U.S.] dollar diminishes is gold as a reserve currency," stated billionaire hedge fund manager John Paulson ( Forecasting that central bank gold buying and global trade tensions are likely to push bullion prices to near $5,000 an ounce by 2028, Paulson is confident that "gold will increase its position in the world." Paulson is not alone in his thinking. Historically a popular asset that investors often use as a hedge against various economic and market risks, gold continues to be a viable option for savvy investors in today's fragile economic setting. However, many retail and institutional investors are looking past large caps and ETFs, turning instead to permitted, low-capex production stories with built-in scalability. The problem? The gold mining space is inundated with exploration and development stories, but most are stuck in endless exploration or bloated development cycles. Wall Street is tired of the "drill and pray" model; smart investors are hunting for permitted projects (derisked), visible production timelines, clean capital structures, tight floats and replicable growth models. Enter ESGold Corporation, a preproduction resource company on a clear path to near-term gold and silver production. ESGold represents the very opportunity that gold-focused minds want. The company is based on a replicable growth model, built for scale and designed to overcome the high failure rate among junior miners. The company sets itself apart by adopting a business model focused on revitalizing underutilized historic mining sites with existing infrastructure. This strategy translated into reduced capital expenditure by leveraging existing infrastructure and minimizing the need for substantial new investments, as well as lower operational risks as established sites often come with known geological data, reducing exploration more than 500,000 legacy mine sites in the United States and 10,000-plus mines in Canada ( there are more than enough opportunities for growth and expansion. ESGold is targeting only the most economically viable and strategically located projects — those with existing infrastructure, high-value tailings or clear pathways to near-term production. This selective, data-driven approach allows ESGold to scale responsibly, deploying capital into projects that offer the highest potential returns with the lowest development risk. Fully Funded, Fully Permitted Earlier this year, ESGold closed on C$3.45 million financing earmarked to advance its Montauban Project toward production ( This successful closing marked a pivotal point for the company, providing the necessary capital to initiate mill circuit construction and mobilize the final phase of development at Montauban. Located in Quebec, Montauban is a past-producing gold-silver mine with surface and underground mineralization and more than 900,000 tons of historical tailings. Unlike many juniors still chasing permits and timelines, ESGold and its Montauban Project is fully permitted for gold and silver production. This derisks the path to revenue, placing the company among the few in the junior space with near-term operational visibility. With the regulatory groundwork already complete, delays, dilutions and permitting risks are reduced, and ESGold can move toward production. "This financing represents a major inflection point for the company," said ESGold president Brad Kitchen, who noted that the financing supports the company's broader strategy to become one of Canada's next gold and silver mining producers through near-term production and long-term district-scale exploration. "With construction and processing circuit assembly now advancing, we are delivering on our commitment to build a scalable, profitable mining operation in one of the best jurisdictions in the world." Moving Decisively Forward With much of the funding in place, ESGold has already begun on-site construction and assembly at Montauban, a key milestone that moves the company into the execution phase of its accelerated production strategy, targeting near-term cash flow within the next six months ( The construction and mobilization stage is expected to last about a month. According to the company, this is the final major phase of infrastructure development before production begins, transforming Montauban from a legacy mine site into one of Canada's next active gold and silver operations. "This is the moment we've been working toward — breaking ground and moving decisively toward gold and silver production," said Kitchen. "Our team, contractors and stakeholders are aligned and energized to deliver on our strategy. We are building a clean, scalable and modern operation that reflects the new era of mining in Quebec. With production targeted for Q4, Montauban is on track to become a model for sustainable redevelopment of legacy mines." At current gold and silver prices, this operation is expected to deliver robust margins, giving ESGold the rare opportunity to self-fund exploration, acquisitions and growth while protecting shareholder equity. Achieving Dual-Track Strategy Following completion of the construction and assembly phase, ESGold plans to immediately advance into the next phase of mill circuit installation and commissioning. With permits in hand, infrastructure in place and funding secured, ESGold remains laser focused on achieving its dual-track strategy: near-term gold and silver production paired with district-scale exploration. ESGold will begin with reprocessing tailings. According to the company, the Montauban property presents a unique opportunity to transform legacy tailings into valuable resources using modern milling techniques while also restoring the environment ( The company plans to start at the Anacon Lead 1 tailings site, which will be reprocessed and fully remediated as part of ESGold's commitment to responsible mining. In addition, the company is evaluating four other tailings sites as potential sources of modern mill feed, maximizing resource efficiency and sustainability. ESGold's vision extends beyond reprocessing. The company believes that underlying hard-rock mineralization, previously mined, holds untapped potential. Through modern systematic exploration, the company plans to build a long-term resource base, ensuring a continuous supply of mill feed after tailings have been fully processed. ESGold projects initially processing 150,000 tonnes of ore annually, with expectations of scaling up to 300,000 tonnes. With that in mind, the company recently completed an internal review of its 2015 VTEM survey data and historic drill database, which confirms the presence of a large-scale geophysical anomaly in the southwestern portion of the Montauban project ( This area has not been drill tested, and ESGold has identified the zone as a high-priority target for future exploration. To validate this potential, ESGold is also finalizing a comprehensive 3D geological model, the first in the project's 110-year history. This model will integrate 2015 VTEM and TMI data; more than 950 historical drill holes and 18,000-plus Au, Ag and Zn assays; structural interpretation from geophysical and geological mapping; and data from an ANT (Ambient Noise Tomography) survey data. The ANT survey, which has been tested to 800 meters in imaging depth, is expected to provide key insight in determining the true scale and continuity of the southwestern anomaly, as well as additional zones of interest. "The southwest anomaly represents a technically interesting and previously untested zone at Montauban," said Kitchen. "While our primary focus remains on advancing toward near-term production, the evolving geophysical model and recent land expansion are beginning to reveal a much broader opportunity. With a growing dataset, disciplined exploration approach and a pathway to self-funded discovery, ESGold is well positioned to pursue both production and the longer-term potential of the Montauban system." Because ESGold's initial revenue is coming from tailings reprocessing, exploration isn't the only driver of valuation, it's the upside. That means the company can grow its resource base without being forced to finance through dilution at every drill stage, a rarity in the junior market. Committed to Sustainability Amid this forward momentum, ESGold remains constantly committed to clean-processing initiatives. The company recently reported results of testing that assessed the applicability of the Dundee Sustainable Technologies CLEVR Process(TM), a noncyanide, environmentally friendly, gold-recovery technology, on legacy tailings material from the Montauban Project ( The technology is designed to enhance recovery rates and minimize environmental impact, an approach that is solidly aligned with Quebec's strong support for mining innovation and sustainability. It also positions the company to benefit from government grants for clean extraction and remediation. Results of the testing indicate high gold-recovery potential using the CLEVR Process, with gold recovery of more than 90.9%, following an oxidation pretreatment process. The company noted that the results provide preliminary insights into the applicability of this technology at the Montauban Project. The company anticipates further studies to confirm economic feasibility. "We don't just talk about sustainability; we aggressively pursue it," Kitchen noted. "ESGold is advancing a cleaner future for mining by collaborating with industry leaders and academic institutions to transform extraction technologies. Our initiatives aim to balance environmental stewardship with economic returns, setting a new standard for mining innovation." Redefining the Future ES Gold joins an array of forward-thinking companies in the mining space dedicated to proving that sustainability and shareholder performance are not mutually exclusive. These industry leaders are integrating environmental stewardship with strong financial policies, innovative technology and savvy business strategies to set a new standard for the mining sector. BHP Group Limited (NYSE: BHP) just announced that it has established its first industry AI Hub ( The company noted that the hub is located in Singapore and is designed "to accelerate digital transformation and AI adoption in the mining and resources sector." The company said the hub will "focus on solving BHP enterprise-wide challenges using AI technologies to improve safety and lift productivity. Once established . . . the hub of BHP AI specialists will look at further integration of data-driven decisions, intelligence and automation into the company's core operations." Barrick Mining Corporation (NYSE:B) (TSX:ABX), a sector-leading gold and copper producer, just released its 2024 sustainability report, which reinforces the company's strong position in the mining space "by driving economic growth, enabling social progress and protecting the environment" ( Titled "Beyond the Horizon," the report provides an overview of the company's transformation from its 2019 merger "to becoming a leader in responsible mining, underscoring its commitment to sustainability-driven growth, community empowerment and environmental stewardship, focused on long-term value creation and measurable outcomes." Agnico Eagle Mines (NYSE:AEM), a Canadia-based and led senior gold mining company and the third largest gold producer in the world, recently completed the acquisition of 100% of the outstanding common shares of O3 Mining "pursuant to the amalgamation of O3 Mining and Agnico Eagle Abitibi Acquisition Corp., a wholly owned subsidiary of Agnico Eagle, making O3 Mining a wholly owned subsidiary of Agnico Eagle" ( O3 Mining is a gold explorer and mine developer in Québec, adjacent to Agnico Eagle's Canadian Malartic mine. Its principal asset is the Marban Alliance project, which the company has advanced over the last five years to the cusp of its next stage of development, with the expectation that the project will deliver long-term benefits to stakeholders ( Wheaton Precious Metals (NYSE: WPM), one of the world's premier precious metals streaming company, was named to this year's Corporate Knights' Global 100 Most Sustainable Corporations list ( The list recognizes companies that are focused on responsible behavior and sustainable revenue generation. "We are proud to be recognized for our commitment to excellence in ESG practices both in our own offices and alongside our mining partners, who have a strong track record in responsible mining," said Randy Smallwood, Wheaton president and CEO. "We have an incredible team at Wheaton and are advancing our work with mining partners to deliver the commodities our society needs." As global demand for critical resources, particularly gold, continues to rise, the need for responsible, effective mining practices has never been greater. The companies that successfully balance sustainability with strong shareholder returns are not only meeting today's challenges—they're shaping the future of the industry. For further information about ESGold Corporation, please visit ESGold Profile About NetworkNewsWire NetworkNewsWire ("NNW") is a specialized communications platform with a focus on financial news and content distribution for private and public companies and the investment community. 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Barrick Mining Eclipses 50-Day SMA: What Should Investors Do Now?
Barrick Mining Corporation's B stock broke out above its 50-day simple moving average (SMA) last Friday, flashing a bullish signal. The B stock has gained roughly 6% in a week. This comes on an uptick in gold prices due to heightened trade and geopolitical tensions, triggering safe-haven demand. The Trump administration's plan to double steel and aluminum tariffs to 50% has amped up trade tensions. Further, escalating Russia-Ukraine tensions have led to heightened geopolitical risks. The B stock is also currently trading above its 200-day SMA, suggesting a long-term uptrend. The 50-day SMA is reading higher than the 200-day SMA since the golden crossover on April 9, 2025, indicating a bullish trend. Image Source: Zacks Investment Research Barrick's shares have gained 20.3% over the past year, underperforming the Zacks Mining – Gold industry's 52.6% increase while outperforming the S&P 500's rise of 10.8%. Among its gold mining peers, Newmont Corporation NEM, Kinross Gold Corporation KGC and Agnico Eagle Mines Limited AEM have racked up gains of 34.6%, 97% and 85.3%, respectively, over the same period. Newmont's gains are partly aided by the strong production performance of its managed Tier 1 portfolio. Kinross Gold's impressive performance has been driven by its strong operational execution, advancement of growth strategy and consistent strong performance of Tasiast and Paracatu, its two biggest assets. Agnico Eagle's shares have performed remarkably on the bourses, thanks to its forecast-topping earnings performance, higher realized prices and strong production. Image Source: Zacks Investment Research Let's take a look at Barrick's fundamentals to better analyze how to play the stock. Barrick is well-placed to benefit from the progress in key growth projects that should significantly contribute to its production. Its major gold and copper growth projects, including Goldrush, the Pueblo Viejo plant expansion and mine life extension, Fourmile, Lumwana Super Pit and Reko Diq, are being executed. These projects are advancing on schedule and within budget, laying the groundwork for the next generation of profitable production. The Goldrush mine is ramping up to the targeted 400,000 ounces of production per annum by 2028. Bordering Goldrush is the 100% Barrick-owned Fourmile, which is yielding grades double those of Goldrush and is anticipated to become another Tier One mine. The project has progressed to a prefeasibility study on the back of a successful drilling program. The Reko Diq copper-gold project in Pakistan is designed to produce 460,000 tons of copper and 520,000 ounces of gold annually in its second development phase. The first production is expected by the end of October 2024, Barrick announced the commencement of the development of a Super Pit at its Lumwana copper mine in Zambia. The Super Pit Expansion entails doubling the present process circuit's throughput and substantially boosting mining volumes. Upon completion, the $2 billion project has the potential to transform Lumwana into a long-term, high-yielding, top-25 copper producer and Tier One copper mine. The expansion is expected to deliver 240,000 tons of copper production annually over the life of the mine. Gold prices have rallied roughly 28% this year, courtesy of the aggressive trade policies, including sweeping new import tariffs announced by President Donald Trump, intensified global trade tensions and heightened investor anxiety. Also, central banks worldwide have been accumulating gold reserves, led by risks arising from Trump's policies. Prices of the yellow metal catapulted to a record high of $3,500 per ounce on April 22 amid President Trump's criticism of Federal Reserve Chair Jerome Powell and call for an immediate reduction in interest rates. Increased purchases by central banks, hopes of interest rate cuts, and geopolitical tensions are expected to support gold prices. Despite the pullback from the April high due to the U.S.-China trade negotiations, gold prices remain above the $3,300 per ounce level. Higher gold prices should translate into strong profit margins and free cash flow generation for Barrick. Barrick has a solid liquidity position and generates healthy cash flows, positioning it well to take advantage of attractive development, exploration and acquisition opportunities, drive shareholder value and reduce debt. At the end of first-quarter 2025, Barrick's cash and cash equivalents were around $4.1 billion. It generated strong operating cash flows of roughly $1.2 billion in the quarter, up 59% year over year. Free cash flow surged to around $375 million in the first quarter from $32 million in the prior-year quarter. Barrick returned $1.2 billion to its shareholders in 2024 through dividends and repurchases. Barrick's board, in February 2025, authorized a new program for the repurchase of up to $1 billion of its outstanding common shares. It repurchased shares worth $143 million under this program during the first quarter. Barrick offers a healthy dividend yield of 2% at the current stock price. Its payout ratio is 28% (a ratio below 60% is a good indicator that the dividend will be sustainable), with a five-year annualized dividend growth rate of roughly 5.1%. Barrick is challenged by higher costs, which may eat into its margins. Its cash costs per ounce of gold and all-in-sustaining costs (AISC) — the most important cost metric of miners — increased around 16% and 20% year over year, respectively, in the first quarter. AISC increased due to higher total cash costs per ounce and higher minesite sustaining capital expenditures. For 2025, the company projects total cash costs per ounce of $1,050-$1,130 and AISC in the range of $1,460-$1,560 per ounce. These projections suggest a year-over-year increase at the midpoint of the respective ranges. Increased mine-site sustaining capital spending and higher labor costs may lead to higher costs. The company provided a tepid forecast for 2025, with attributable gold production expected in the range of 3.15-3.5 million ounces, excluding production from Loulo-Gounkoto, which is temporarily suspended. While a potential restart of the mine would provide an upside, this projection suggests a year-over-year decline from 3.91 million ounces in 2024. Higher production from Pueblo Viejo, Turquoise Ridge, Porgera and Kibali, along with stable performance across Carlin and Cortez, is projected to be offset by reduced production across Veladero and Phoenix. Lower production is expected to weigh on the company's performance in 2025. Barrick's total gold production fell roughly 19% year over year to 758,000 ounces in the first quarter. Earnings estimates for Barrick have been revised upward over the past 60 days. The Zacks Consensus Estimate for 2025 and 2026 has been revised higher over the same time frame. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.) Image Source: Zacks Investment Research B stock is currently trading at a forward price/earnings of 10.67X, a roughly 23.6% discount to the industry's average of 13.97X. It also has a Value Score of A. Barrick is also trading at a discount to Newmont, Agnico Eagle and Kinross Gold. Image Source: Zacks Investment Research Barrick's actions to boost production, robust financial health, rising earnings estimates, attractive valuation and a safe dividend yield paint a promising picture. Higher gold prices should also boost its profitability and drive cash flow generation. The stock trading above its 50-day SMA also suggests bullish momentum. However, its high costs and downbeat production outlook warrant caution. Therefore, retaining this Zacks Rank #3 (Hold) stock will be prudent for investors who already own it. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Newmont Corporation (NEM) : Free Stock Analysis Report Kinross Gold Corporation (KGC) : Free Stock Analysis Report Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report Barrick Mining Corporation (B) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
