Barrick to Buy Randgold

[Marina Schwarz + 1,576]

The biggest deal in three years in mining' Barrick will buy Randgold for $18.3 billion in stock. What's interesting is that the deal also features an additional stock purchase by a Chinese company into Barrick and Barrick will buy stock in the Chinese company. 

[jaycee + 348]

5 hours ago, Marina Schwarz said:

The biggest deal in three years in mining' Barrick will buy Randgold for $18.3 billion in stock. What's interesting is that the deal also features an additional stock purchase by a Chinese company into Barrick and Barrick will buy stock in the Chinese company. 

I finally decided to stake build in Rangold last Tueday sadly only have a small holding but still a nice profit I have no intention of keeping it once the take over is finalised and am currently using the money I had earmarked for Randgold into Anglo Asian instead to get my gold coverage. It is on a bit of a gallop just now though. You buying or selling Randgold Marina?

Edited September 25, 2018 by jaycee
typo

[Marina Schwarz + 1,576]

I'm no trader. I only observe. But it's good you made money on your holding. That's what it's all about. Why wouldn't you stay on, they'll be the biggest player in the field, I gather.

[jaycee + 348]

Reason for leaving is that it will be listed on the Canadian stock exchange I dont need the exchange rate problem as I deal in £s otherwise I would probably have kept it.

[TomTom + 183]

congrats @jaycee - I think Barrick did the right thing by buying Randgold, their gold reserves are admirable

[jaycee + 348]

Yes good deal for Barrick for once a resource company is actually buying another at the low point in the market rather than the top!

[Marina Schwarz + 1,576]

I think all of them learned some hard lessons during the last downturn, like Big Oil.

[Marina Schwarz + 1,576]

Hehe, Newmont's CEO rejects talk of bids for Barrick, Randgold

[TraderTate + 186]

I think there's another angle to this. Might be worth looking at gold stocks right now. Obviously Barrick is optimistic, but if you look at all the big gold miners, they've lost around 20 percent this year. They're trading at a major discount. In fact, a bigger discount than we've seen in around 20 years. I think it's time for gold to rally, but I think that there's been so much hefty speculation on gold further declining that if we see even a slight weakening of the dollar at this point it will be enough for gold to rally nicely.