Sept. 09, 2020 - Davies has submitted a comprehensive comment letter to the Capital Markets Modernization Taskforce (Taskforce) in response to the consultation report published by the Taskforce on July 9, 2020 (Report). The Taskforce was formed by the Ontario government in February 2020 with a mandate to review...
Barrick to Sell Interest in Australian Super Pit for $750 Million
Davies acted for Barrick Gold Corporation (Barrick) in the sale of its 50% interest in Kalgoorlie Consolidated Gold Mines (KCGM) in Western Australia to Saracen Mineral Holdings Limited (Saracen) for total consideration of US$750 million in cash. KCGM, a 50-50 joint venture with Newmont Goldcorp Corp., owns the country's largest open pit gold mine, The Super Pit, as well as underground and processing works. Saracen is an ASX200-listed gold company with two gold operations in the Kalgoorlie region of Western Australia.
The sale of the non-operating interest in KCGM was achieved following a competitive sales process and represents Barrick’s first step in its plan to sharpen its focus and realize more than $1.5 billion from the disposal of its non-core assets by the end of 2020.
The transaction closed in the fourth quarter of 2019.
Aug. 25, 2020 - The federal government passed legislation on July 27, 2020, extending the Canada Emergency Wage Subsidy (CEWS) and significantly broadening its reach. In this guide, we provide a comprehensive review and analysis of the CEWS program, including details of the latest updates and key considerations...