Barrick Announces Sale of Stake in Donlin Gold Project for Up To $1.1 Billion [Canadian Business Journal (Canada)]
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Source: Canadian Business Journal
All amounts expressed in US dollarsTORONTO, April 22, 2025 (GLOBE NEWSWIRE) — Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick”) today announced that it has reached an agreement to sell the 50 percent interest in the Donlin Gold Project in Alaska held by Barrick’s subsidiary Barrick Gold U.S. Inc. to affiliates of Paulson Advisers LLC (“Paulson”) and NOVAGOLD Resources Inc. (NYSE American, TSX:NG) for $1 billion in cash. In addition, Barrick has granted NOVAGOLD an option to purchase the outstanding debt owed to Barrick in connection with the Donlin Gold Project for $90 million if purchased prior to closing, or for $100 million if purchased within 18 months from closing, when the option expires. If that option is not exercised, the debt will remain outstanding, substantially in accordance with its existing terms.Paulson and NOVAGOLD have agreed to acquire 80 percent and 20 percent, respectively, of Barrick’s subsidiary’s interest in Donlin Gold LLC, the entity that holds the Do
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