“I’ve always said that the best assets that we haven’t got are the other parts of our joint ventures,” Bristow told Reuters in an interview. “If there was a way of acquiring those assets I think we would be desirous of acquiring them.”
Barrick beat analysts’ estimates for quarterly profit and announced a share buyback of up to $1 billion after record payouts to shareholders last year.
Bristow stuck to the company’s ‘build, not buy’ approach and ruled out the possibility that Barrick would launch a counter bid for Newcrest.
“If you’re paying a premium to the inherent value of what you’re purchasing, the only way you make money is if the gold price goes up, or the copper price or both, Bristow explained. Adding that if the above variables don’t come through then companies have to find a way to add more value to those assets.
Newmont’s offer implied a 21% premium to Newcrest’s share price. Earlier this…
