drowsy syrups of the world

Barrick on Donlin Creek: “An Interesting Strategic Value”

During the Barrick Conference Call today, the CIBC analyst dude asked ABX mgmt about its 50% owned Donlin Creek project.

The ABX dude had a really (that big enough?) hard time in finding something positive to say, but managed to squirm out with “there’s a lot of gold there”, that Donlin Creek “offers good option value” (a coded phrase in itself meaning “we can delay forever”). However he couldn’t avoid saying that Donlin Creek comes way down the list on its project pipeline and ended up by calling Donlin Creek “interesting strategic value”. LOL!

Or in other words, Rick Van Alphabet and all at Nadagold (NG):

I still find it incredible to think that Rick! told shareholders to reject a $16 offer and is still Nadagold’s CEO.

By the way, Barrick’s CC was pretty good. They were coy more than once about Pascua Lama and promise a full update some time in 2q09. Overall I’d certainly rather be holding ABX than NG going forward.

Leave a Reply

Your email address will not be published.

Hello, you are not in a chatroom, you are in my living room. Opposing views and criticisms welcome, insults or urinating on furniture unwelcome. Please refrain from swearing if possible, it is not needed.