Silver Standard Resources said it will purchase the Marigold mine in Nevada for $275 million in cash from joint owners Goldcorp Inc and Barrick Gold in a deal that would provide the Canadian miner more exposure to gold. Large gold miners like Barrick and Goldcorp are looking to shut down or sell some of their higher-cost assets and optimize their mine portfolios. The Marigold mine produced 108,000 ounces of gold for Goldcorp in 2013."This transaction is consistent with Goldcorp's ongoing strategy of disciplined portfolio management with an emphasis on creating value for shareholders through the focus on core assets," Goldcorp Chief Executive Chuck Jeannes said in a statement.Barrick also said that the sale of its minority interest in Marigold mine was part of the company's ongoing portfolio pruning process."The acquisition of Marigold accomplishes our strategic goal of adding an operating mine in a well-established, low-risk mining jurisdiction," Silver Standard Chief Executive John Smith said in a statement.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX traded higher by 0.1% or $0.02/share to $19.30. In the past year, the shares have traded as low as $13.43 and as high as $33.36. On average, 17511500 shares of ABX exchange hands on a given day and today's volume is recorded at 17400468.
Barrick Gold Corporation (Barrick) is engaged in the production and sale of gold, as well as related activities, such as exploration and mine development. Shares of ABX fell by 0.19% or $-0.04/share to $21.42. In the past year, the shares have traded as low as $14.22 and as high as $33.38. On average, 3713340 shares of ABX.TO exchange hands on a given day and today's volume is recorded at 3013346.
Goldcorp Inc. (Goldcorp) is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico and Central and South America. Shares of G fell by 1.12% or $-0.31/share to $27.48. In the past year, the shares have traded as low as $21.87 and as high as $36.50. On average, 2969090 shares of G.TO exchange hands on a given day and today's volume is recorded at 3791451.
Goldcorp Inc. (Goldcorp) is a gold producer engaged in the operation, exploration, development and acquisition of precious metal properties in Canada, the United States, Mexico and Central and South America. Shares of GG fell by 0.56% or $-0.14/share to $24.75. In the past year, the shares have traded as low as $20.54 and as high as $36.46. On average, 8066350 shares of GG exchange hands on a given day and today's volume is recorded at 9529756.
Silver Standard Resources Inc. is a silver resource company. Shares of SSO fell by 2.17% or $-0.19/share to $8.55. In the past year, the shares have traded as low as $5.38 and as high as $12.11. On average, 197100 shares of SSO.TO exchange hands on a given day and today's volume is recorded at 189619.
Silver Standard Resources Inc. is a silver resource company. Shares of SSRI fell by 1.79% or $-0.14/share to $7.69. In the past year, the shares have traded as low as $5.18 and as high as $12.12. On average, 1596920 shares of SSRI exchange hands on a given day and today's volume is recorded at 1134969.
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