Last Updated :
24 May 2009 at 01:20 IST
Barrick Gold gains on new mine production
Commodity Online
Barrick Gold Corp. (NYSE:ABX) has commenced production at its Buzwagi Mine in Tanzania wherein Langley’s Knelson Gravity Solutions gold concentrator has been installed.
Barrick Gold Corporation is engaged in the production and sale of gold as well as activities such as exploration and mine development.
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The Buzwagi facility managed to pour first gold in May 2009 and Barrick Corp. expects it to produce about 200,000 ounces of gold in 2009.
Analysts estimate an average target price of 40 while consider the stock to be ‘Overweight’. ABX gained 3.01% at New York Stock Exchange on Friday and closed at 38. It touched a 52-week high of 52.48 and low of 17.27.
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