Gold announcments for MRGP, GG, and ABX
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Mercer Gold Corp. (OTC BB:MRGP) recently reported that the company has appointed Mr. Edward Flood to the Board of Directors. Mr. Flood has over 35 years of experience in international mining and was previously the Deputy Chairman of Ivanhoe Mines Ltd. and its founding President. Prior to joining Ivanhoe, Mr. Flood was a principal at Robertson Stephens & Co., an investment bank in San Francisco where he was a member of the investment team for the Contrarian Fund, a public mutual fund focused on natural resource development projects around the world. He has held the position of senior mining analyst with a prominent Canadian securities firm and holds both a bachelor's and master's degree in Geology.
MRGP is focused on gold exploration and resource definition in Colombia. The Company acquired the prospective Guayabales Project, located in the Marmato Gold District, Department of Caldas, earlier in 2010. Mercer is exploring the Guayabales property and is seeking to acquire additional prospective gold properties in Colombia.
Goldcorp Inc. (NYSE:GG) has agreed to support the proposed transaction whereby Thompson Creek Metals Inc. will acquire all of the outstanding common and preferred shares of Terrane Metals Corp. Goldcorp controls 58% of the outstanding shares of Terrane through its ownership of 240 million preferred shares and 27.3 million common shares. In conjunction with the Thompson Creek acquisition of Terrane, Goldcorp has agreed to vote its securities in support of the Thompson Crbeek acquisition. Upon completion of the transaction, Goldcorp will receive proceeds of C$240.5 million in cash and 13.9 million Thompson Creek common shares representing approximately 8% of the outstanding shares.
GG engages in the acquisition, exploration, development, and operation of precious metal properties in Canada, the United States, Mexico, and Central and South America. The company produces and sells gold, silver, and copper. It also holds interests in lead and zinc projects.
Barrick Gold Corporation (NYSE:ABX) recently reported that its Board of Directors has authorized a quarterly dividend of $0.12 cents per share, which represents a 20% increase from the previous dividend. With Barrick's strong financial position and its positive outlook on the gold price, the Company is able to continue to make high return investments in its project pipeline and at the same time increase its dividend. As the gold price has increased in the last five years, Barrick has increased its dividend by about 120%.
ABX primarily engages in the production and sale of gold, as well as related activities such as exploration and mine development worldwide. The company has a portfolio of 26 operating mines and a pipeline of projects located across various continents, including North America, South America, Australia, and Africa. It also produces copper and holds interests in oil and gas properties located in Canada. In addition, its products include copper cathode, silver, nickel, and platinum.
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