IKN

Every why hath a wherefore

ATAC Resources (ATC.v), Bristow’s first victim (there will be more)

Today from ATAC:
“VANCOUVER, Dec. 12, 2018 /CNW/
– ATAC Resources Ltd. (TSX-V:ATC) (“ATAC”) announces that Barrick Gold
Corporation (“Barrick”) has terminated its option to acquire an interest
in the Orion Project, located within ATAC’s 100% owned Rackla Gold
Property, Yukon.”
And why so? Simple, Orion was not big enough and not good enough. It doesn’t matter whether you’ve believed the ATC spiel on its beloved project over the years, a new broom is in town and bringing some cold, hard reality with it. We’ve know the hammer was going to start coming down with Bristow at the helm, ABX made this crystal clear a month ago:

“To approve so-called Tier 1 projects, with potential for more than 5
million ounces of gold, Barrick will require a 15 percent rate of
return, based on a $1,000 gold price…. Tier 2 projects, with
more than 3 million ounces of gold, will need a 20 percent return.”

So today the first victim and don’t expect ATC stock to have a great day. How long before NovaGold (NG) farce finally ends?

UPDATE at the open: ATAC? ATTACK!

Now 37% down.

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