Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) Announces Sale of Alaska Gold Project as Gold Hits New Highs

April 23, 2025 (Investorideas.com Newswire) Investorideas.com, a top 100 rated investment site for retail investors following mining stocks issues a trading and news alert for Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX).

As gold reaches another record high , Barrick had marginal gains this morning on news that of a sale of 50 percent interest in the Donlin Gold Project in Alaska/. The stock is trading at 28.32, up 0.36, gaining (1.29%) on the TSX as of this report.

Barrick today announced that it has reached an agreement to sell the 50 percent interest in the Donlin Gold Project in Alaska held by Barrick's subsidiary Barrick Gold U.S. Inc. to affiliates of Paulson Advisers LLC ("Paulson") and NOVAGOLD Resources Inc. (NYSE American, TSX:NG) for $1 billion in cash. In addition, Barrick has granted NOVAGOLD an option to purchase the outstanding debt owed to Barrick in connection with the Donlin Gold Project for $90 million if purchased prior to closing, or for $100 million if purchased within 18 months from closing, when the option expires. If that option is not exercised, the debt will remain outstanding, substantially in accordance with its existing terms.

Paulson and NOVAGOLD have agreed to acquire 80 percent and 20 percent, respectively, of Barrick's subsidiary's interest in Donlin Gold LLC, the entity that holds the Donlin Gold Project, with each purchaser contributing pro rata to the purchase price and several existing shareholders, including Paulson, backstopping NOVAGOLD's purchase commitment.

Proceeds from the sale will be used to further strengthen the balance sheet, invest in our future and support our commitment to deliver returns to our shareholders.

Barrick president and chief executive Mark Bristow said Barrick remained committed to optimizing its portfolio of assets that align with its objective of focusing on long-life, sustainable Tier One gold and copper operations that it operates and advancing its priority portfolio of growth projects.

"The Donlin agreement allows Barrick to exit the Donlin Gold Project at an attractive valuation, while allowing NOVAGOLD and Paulson to pursue the development of the project. This is a good example of an instance where an asset we own might be better suited in the hands of others, while we pursue our priority portfolio of Barrick-managed growth projects," said Bristow.

Subject to the satisfaction of customary closing conditions and obtaining the required regulatory approvals, the transaction is expected to be completed late in the second quarter or early in the third quarter of 2025.

Full news

https://ca.finance.yahoo.com/news/barrick-announces-sale-stake-donlin-110000293.html

Research more gold and mining stocks at Investorideas.com free stock directory

https://www.investorideas.com/Gold_Stocks/Stocks_List.asp

Watch recent episode

Market Reset Alert: Gold to Shine, and a potential Mining Sector Boom –Chris Vermeulen Interview

https://www.youtube.com/watch?v=GzbiOBgNbWI&t=1755s

Sign up for free stock news alerts at Investorideas.com

https://www.investorideas.com/Resources/Newsletter.asp

About Investorideas.com - Big Investing Ideas

Investorideas.com Named as one of 100 Best Investment Blogs and Websites in 2025 (8th)

Investorideas.com is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for sectors including mining, crypto, renewable energy, gaming, biotech, tech, sports and more. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors.

Disclaimer/Disclosure: disclaimer and disclosure info https://www.investorideas.com/About/Disclaimer.asp

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Learn more about our news, IR, PR and social media, podcasts and ticker tag services at Investorideas.com

https://www.investorideas.com/Investors/Services.asp

Boost Your Brand with Guest Posts on Investorideas.com

Learn more about digital advertising and guest posts

https://www.investorideas.com/Advertise/

Follow us on X @investorideas @stocknewsbites

Follow us on Facebook https://www.facebook.com/Investorideas

Follow us on YouTube https://www.youtube.com/c/Investorideas

Contact Investorideas.com

800 665 0411