Latest Mergers and Acquisitions Propelling Gold & Precious Metals To New Heights In 2016 Despite Economic Uncertainty in Other Sectors

Feb 24, 2016, 08:30 ET from FN Media Group LLC

CORAL SPRINGS, Florida, February 24, 2016 /PRNewswire/ --

Improving forecast for gold in particular as mining stocks have been on a recent tear, which is expected to continue to soar due to a combination of mergers, current developments, recent discoveries and financial uncertainty in other sectors of the market.  Mining stocks with recent achievements of note in the industry are NuLegacy Gold Corporation (OTCQX:NULGF), Kinross Gold Corporation (NYSE: KGC), Barrick Gold Corporation (NYSE: ABX), YAMANA GOLD INC. (NYSE: AUY) and Goldcorp Inc. (NYSE: GG)

NuLegacy Gold Corporation (NUG.V: TSXV) (OTCQX:NULGF) ("NuLegacy") is pleased to announce that it has entered into an agreement with Barrick Gold Corporation ("Barrick") pursuant to which NuLegacy has agreed to acquire Barrick's 30% working interest in the 23 sq. mile Redhill property (the "Property") in Nevada which hosts the Iceberg gold deposit.  As of the date hereof, NuLegacy holds a 70% working interest in the Property through a joint venture with Barrick.  In exchange, NuLegacy will issue 32 million shares to Barrick at a deemed price of C$0.125 per share, and grant a 2% net profits interest royalty from commercial production on the Property.

Read the full NuLegacy Gold Corp (NULGF)(NUG.V) Press Release at:  http://www.financialnewsmedia.com/profiles/nulgf.html

Barrick has the right to nominate one director to NuLegacy's board and participate pro rata in all future issuances of shares or convertible securities. Barrick has agreed to provide NuLegacy with certain stand still and voting restrictions in favour of NuLegacy in respect of the shares for a period of two years, subject to certain conditions.  "We are pleased that Barrick has entrusted the advancement of this exciting undeveloped gold prospect in Nevada to NuLegacy," says NuLegacy Director Alex Davidson.  On closing, Barrick will become NuLegacy's largest shareholder.

In additional Gold news and recent developments:  Kinross Gold Corporation (NYSE: KGC) (TSX:K.TO) announced last month that it has completed its acquisition of 100% of the Bald Mountain gold mine, which includes a large associated land package, and 50% of the Round Mountain gold mine in Nevada from Barrick Gold Corporation for $610 million in cash1 under the previously announced definitive asset purchase agreement. "The addition of these quality assets adds to our production profile, delivers free cash flow and is expected to lower costs while preserving our balance sheet strength," said J. Paul Rollinson, Kinross President and Chief Executive Officer. "The acquisition expands our existing portfolio in Nevada, one of the best mining jurisdictions in the world, and provides clear upside potential."

Barrick Gold Corporation (NYSE: ABX)(ABX.TO) (Barrick or the "company") also reported this week the results of four studies on projects that have the potential to add or accelerate gold production at Cortez, Goldrush, Lagunas Norte and Turquoise Ridge.  Based on our current asset mix and subject to potential divestments, we expect to maintain annual gold production of at least 4.5 million ounces of gold through 2020. These projects represent attractive opportunities to maintain and grow free cash flow beyond 2020.

YAMANA GOLD INC. (NYSE: AUY) (TSX: YRI) reported its financial and operating results for the fourth quarter and full year 2015, and its mineral reserve and mineral resource estimate for the year ended December 31, 2015, with some highlights provided as follows.   Record total production of 1.28 million ounces of gold, including 345,788 ounces of gold in the fourth quarter of 2015, with record annual gold production from Canadian Malartic, Gualcamayo and Minera Florida; and Fourth quarter production increases compared to the prior year of 18% at Chapada, 10% at Canadian Malartic, 15% at Gualcamayo and 37% at Jacobina. Read the full report at http://finance.yahoo.com/news/yamana-gold-announces-fourth-quarter-012738695.html

Goldcorp (NYSE: GG) shares jumped 2.65% to $15.52 on Tuesday as gold futures rebounded after equities turned negative, fueling investors to seek safe haven assets. The precious metal was lifted by European and U.S. shares falling on weak earnings updates and lower oil prices, CNBC reports. Additionally, stocks extended losses after the consumer confidence index dropped to 92.2 in February, compared to 97.8 in January, Reuters said.  SOURCE: TheStreet.com

FinancialNewsMedia.com is leading provider of third party publishing & news dissemination services.  If you would like more information regarding our news coverage solutions, please visit financialnewsmedia.com for more details.  Get an edge on the market with our Premium News Alerts that are FREE for a limited time at financialnewsmedia.com.  Follow us on Facebook: facebook.com/financialnewsmedia and Twitter:  twitter.com/FNMgroup. 

DISCLAIMER:  FN Media Group LLC (FNMG) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNMG is NOT affiliated in any manner with any company mentioned herein.  FNMG and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNMG's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNMG is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.  For current services performed FNMG has been compensated one thousand nine hundred dollars for news coverage of the current press release issued by NuLegacy Gold Corporation by the company  FNMG HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.

This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNMG undertakes no obligation to update such statements.

Contact Information: Company: FN Media Group, LLC Contact email: editor@financialnewsmedia.com U.S. Phone: +1(954)345-0611 URL: http://www.financialnewsmedia.com Source:  FN Media Group

 

SOURCE FN Media Group LLC