FINWIRES · TerminalLIVE
FINWIRES

Barrick Advancing IPO of North American Gold Assets, Announcing Executive Appointments

By

-- Barrick Mining Corporation (NYSE:B and ABX.TO) has made several executive appointments and provided an update regarding the planned initial public offering of a minority stake of a new company that will hold its North American Gold Assets, the company said Tuesday.

An executive leadership team dedicated exclusively to North American Barrick has been appointed. the company said. "They have been working successfully together for many months. The team consists of experienced and proven Barrick veterans with deep expertise in operations, exploration, and development," it added.

The team reports to Mark Hill, Barrick President and CEO, and is comprised of: Tim Cribb, Chief Operating Officer; Wessel Hamman, Chief Financial Officer; Joe Heckendorn, Chief Legal Officer & Corporate Secretary; Megan Tibbals, Chief Technical Officer; Richard Barley, Chief HR Officer; Javier Ortuzar, Vice President, Exploration; and Amanda Steensen, Vice President, Sustainability.

Barrick said North American Barrick will include a portfolio of four tier one gold assets located in premier mining jurisdictions in North America: Carlin, Cortez, and Turquoise Ridge in the Nevada Gold Mines complex and the Pueblo Viejo mine in the Dominican Republic. North American Barrick's assets produced approximately 2.0Moz of gold in 2025 attributable to Barrick's interests.

North American Barrick will also include Barrick's wholly-owned Fourmile gold project, located adjacent to NGM. It said: "Barrick believes Fourmile is one of the most significant gold discoveries of this century and will be a significant high-grade and low-cost growth opportunity in North American Barrick's portfolio. It is anticipated that Fourmile will eventually be contributed to the NGM joint venture, in accordance with the NGM Joint Venture Agreement."

Barrick said it has identified what it believes to be the optimal structure for the IPO of its North American assets. North American Barrick is expected to have its primary listing in New York, with a secondary listing in Toronto, subject to customary SEC registration and Canadian prospectus qualification processes. Barrick added it is on track to complete the IPO by the end of 2026, subject to market and other conditions and necessary approvals.

The company anticipated that the IPO will abide by all applicable commitments in Barrick's Joint Venture Agreements. "Barrick's leaders have been meeting with their counterparts at Newmont to discuss improving performance at NGM, the proposed IPO, and the timeline of the vend-in on Fourmile. While Barrick is free to pursue the IPO unilaterally, it is working in close collaboration with its Joint Venture partner to ensure value is created and maximized for all."

Shares in Barrick were down 1.2% in Canada yesterday. It lost 1% in US trading yesterday and was at last look down 1.6% in US premarket.

Related Articles

Equities

Sector Update: Energy

Energy stocks were higher premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) gaining 1.4%.The United States Oil Fund (USO) rose 3.3%, while the United States Natural Gas Fund (UNG) was 1% higher.Front-month US West Texas Intermediate crude oil was up 3.5% to $99.66 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.4% to $104.20 per barrel, and natural gas futures were 0.6% lower at $2.71 per 1 million British Thermal Units.BP (BP) stock was more than 2% higher before the opening bell after the company reported higher Q1 underlying replacement cost profit and sales.

$BP$UNG$USO$XLE
International

February Case-Shiller US Home Price Index Rebounds From January Drop

The Case-Shiller National Home Price index rose by 0.3% in February before seasonal adjustment following a 0.2% decrease in January.The 10-city index rose by 0.6% in the month, while the 20-city index was up 0.4%.National home prices were up 0.7% year-over-year, down from a 0.8% annual gain in January."More than half of major U.S. metropolitan markets posted year-over-year price declines in February, signaling that the housing slowdown has broadened well beyond its Sun Belt origins," said Nicholas Godec, Head of Fixed Income Tradables & Commodities at S&P Dow Jones Indices.National home prices were up 0.1% month-over-month in February after seasonal adjustment, with the 10-city measure up 0.1% but the 20-city measure 0.1% lower.The monthly home price index report from S&P CoreLogic Case-Shiller measures single-family home prices across the US with a two-month lag, broken down by city, with combined measures of the 10 and 20 largest cities and a national index. Case-Shiller reports percentage gains both from the previous month and a year earlier.Higher home prices are inflationary and are usually negative for bonds. The possible outcome for housing-related stocks is mixed, as higher prices suggest strong demand, but prices that are accelerating too fast can also deter potential buyers.

International

February FHFA Home-Price Index Holds Steady, Below Expectations

The FHFA's measure of home prices held steady in February after an upwardly revised 0.2% increase in the previous month, below the 0.1% gain expected in a survey compiled by Bloomberg as of 7:30 am ET.Prices were up 1.7% from a year earlier in February.Sale prices were up in four of the nine regions from the previous month, down in four other regions and unchanged in the East North Central region.The monthly home price index report from the Federal Housing Finance Agency measures single-family home prices across the US with a two-month lag, broken down by region. The FHFA reports percentage gains both from the previous month and a year earlier.Higher home prices are inflationary and a negative for bonds. The outcome for housing-related stocks is mixed, as higher prices suggest strong demand, but prices that are accelerating too fast can also deter potential buyers.