Barrick-Randgold Merger Complete
The merger of Barrick Gold and Randgold Resources has created a new company which began trading shares on the New York and Toronto Stock Exchanges.The new company is still known as Barrick but its trading symbol on the NYSE will change to GOLD, the ticker formerly held by Randgold on NASDAQ. On the TSX, the ticker remains ABX.
Following the closing of the merger, Barrick’s board of directors was reconstituted with the following nine directors: John Thornton (executive chairman), Mark Bristow, María Ignacia Benítez, Gustavo Cisneros, Christopher Coleman, Michael Evans, Brian Greenspun, Brett Harvey (lead independent director), and Andrew Quinn
In a joint letter to stakeholders, John Thornton and Mark Bristow said that with the best asset base and the strongest management team in the sector, Barrick was well placed to be the world’s most valued gold mining business.
“We will do so by optimizing our existing operations, pursuing new opportunities that meet strict investment criteria, and developing them with disciplined efficiency. In all that we do we will be guided by a long-term strategy and clear implementation plans designed to deliver sustainable returns to our owners, and real benefits to our partners, host countries, and communities,” they said.