Barrick Gold Corp (USA) (NYSE:ABX) Finalizes A Deal With Canarc Resource Corp. (USA) (OTCMKTS:CRCUF)


Canarc Resource Corp. (USA) (OTCMKTS:CRCUF) has finalized a deal with Skeena Resources Ltd. and Barrick Gold Corp (USA) (NYSE:ABX) involving its 33.3% carried stake in certain mining claims closer to the Eskay Creek Gold mine based in northwest British Columbia.

The details

Barrick and Canarc own respectively 66.67% and 33.33% stakes in six mining ad claims leases totaling 2323 hectares at past-producing Eskay Creek. Eskay Creek Gold mine marked as the richest silver-gold mine in the world in the era of 1990’s. It recorded a gold production of 3.3 million ounces while silver production was 160 million ounces from 2.2 million tonnes of ore across a 14-year mining operation.

By the means of lately signed deal, Canarc will keep its 33.33% carried stake while Barrick Gold’s 66.67% stake will go to Skeena Resources when Skeena has fulfilled its obligations per the Option Deal it recently closed with Barrick Gold and reported in its press release of December 18, 2017. Canarc Resource is delighted to witness the renewed interest in this asset and will gain from any future exploration development and success that may happen on these claims.

Earlier in the month, Barrick reported that it has bought 48 million common shares of Reunion Gold Corporation in a private placement for total consideration of CAD $9.12 million. As an outcome of the deal, Barrick Gold owns 48 million common shares, exhibiting around 15% of Reunion’s issued and due common shares.

Barrick bought the common shares for purpose of investment. Based on market scenario and other factors, such as Reunion’s financial and business condition, the company may, subject to the shareholder rights deal entered into pertaining with the deal, buy other securities or additional common shares of Reunion or sell that it has at such time.

In the last trading session, the stock price of Barrick gained 0.28% to close the day at $14.47.