Wolf Money(Barrick Gold Corporation: NYSE: Gold)

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I bought a tokenism position in NYSE listed Barrick Gold. The Canadian gold mining company was the world largest gold mining company before it was recently upstage by Newmont for the number 1 spot after their takeover of Australia, Newcrest Mining. Barrick Gold has a more conservative balance sheet in a sector that rely heavily on debt funding. I am quite puzzled by the phenomenon of the huge disparity in high gold price vs low stock price. Share of Barrick Gold is trading close to its 52 weeks low. The cost of production for Barrick Gold is USD$1364 per ounce in the 4q of last year. With spot gold price trading above USD $2050 at time of writing, there are enough margin for most gold miners including Barrick Gold to make a handsome profit. A rate cut in the second half of 2024 will be supportive of higher gold price. 

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All investments is highly speculative in nature and involves substantial risk of loss. We encourage our reader to invest very carefully. We also encourage reader to get personal advice from your professional investment advisor and to make independent investigations before acting on information that we publish. Much of our information is derived directly from information published by companies or submitted to governmental agencies on which we believe are reliable but are without our independent verification. Therefore, we cannot assure you that the information is accurate or complete. We do not in any way whatsoever warrant or guarantee the success of any action you take in reliance on our statements. All information provided are for education only. Buyer beware,do you own due diligence.


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