The Gold Mine Barrick Might Regret Selling

by Chris Powell

Dear Friend of GATA and Gold:

Resource company publicist Tommy Humphreys of CEO.CA today issued a report that may be most interesting for showing how insanely cheap the junior gold mining business remains despite the rise in the monetary metal’s price since the start of the year.

The report is about K92 Mining, which last year acquired a high-grade gold property in Papua New Guinea from Barrick Gold for $2 million, a tiny fraction of the $141.5 million Barrick paid for the property in 2007 before spending another $140 million developing the property, only to start casting off assets and reducing debt as the gold price was pounded down.

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