{"id":2455,"date":"2019-10-02T19:53:07","date_gmt":"2019-10-02T19:53:07","guid":{"rendered":"https:\/\/www.gsnv.org\/shop\/unlocking-the-hidden-value-in-joint-ventures-and-acquisitions-a-case-history-of-barricks-reserve-and-resource-growth-in-nevada\/"},"modified":"2020-02-24T18:17:41","modified_gmt":"2020-02-24T18:17:41","slug":"unlocking-the-hidden-value-in-joint-ventures-and-acquisitions-a-case-history-of-barricks-reserve-and-resource-growth-in-nevada","status":"publish","type":"product","link":"https:\/\/www.gsnv.org\/shop\/unlocking-the-hidden-value-in-joint-ventures-and-acquisitions-a-case-history-of-barricks-reserve-and-resource-growth-in-nevada\/","title":{"rendered":"Unlocking the hidden value in joint ventures and acquisitions: A case history of Barrick\u2019s reserve and resource growth in Nevada"},"content":{"rendered":"","protected":false},"excerpt":{"rendered":"<p>Following Barrick\u2019s entry into Nevada, with the purchase of an interest in the<br \/>\nPinson property in 1984 and the acquisition of Goldstrike in 1987, the Company has<br \/>\nexperienced an unprecedented growth in gold reserves and resources in Nevada.<br \/>\nMost of this growth has come from exploration successes that followed a number of<br \/>\nmajor acquisitions. Successful exploration programs at several joint venture properties<br \/>\nhave also contributed to Barrick\u2019s gold reserve and resource base. In addition<br \/>\nto Goldstrike, the key corporate acquisitions impacting Barrick in Nevada include<br \/>\nLACMinerals in 1994, Homestake in 2001 and Placer Dome in 2006. Important joint<br \/>\nventure deals include the acquisition of 60% interests in Dee in 1997, Rossi in 1998<br \/>\nand the recent joint venture at Spring Valley in 2009. In each case, the acquired<br \/>\nproperties contained known reserves and\/or resources and most had some production<br \/>\nprior to acquisition by Barrick. This study reviews the existing reserves and resources,<br \/>\nthe perceived exploration discovery upside in gold ounces and the value that<br \/>\nBarrick assigned to the exploration potential for the properties. Some properties<br \/>\nsuch as Goldstrike,which had reserves of 625,000 ounces (20.2 metric tons) of gold at<br \/>\nthe time of the acquisition, have delivered significantly more ounces than anticipated.<br \/>\nOther properties have yielded value and exploration results on par with that<br \/>\nexpected, while a few have not delivered any significant upside following their acquisition.<br \/>\nThe exploration successes and reserve\/resource additions can be attributed to<br \/>\na number of factors which include breakthroughs in the understanding of the geological,<br \/>\ngeochemical, geophysical and metallurgical aspects of the mining districts<br \/>\nand their individual deposits. In some cases the key factors in helping discover new<br \/>\nounces were the development of new drilling techniques and technologies to accurately<br \/>\ntest and develop the deposits as they became deeper, sulfide-bearing and often<br \/>\nwell below groundwater levels. In all cases following acquisition, Barrick has initiated<br \/>\naggressive and well funded exploration programs designed to maximize value<br \/>\nfrom the acquisition. This has been the key factor in unlocking \u201chidden value\u201d from<br \/>\nthe acquisitions and joint ventures.<\/p>\n","protected":false},"featured_media":4478,"comment_status":"closed","ping_status":"closed","template":"","meta":{"pmpro_default_level":""},"product_cat":[154],"product_tag":[],"_links":{"self":[{"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/product\/2455"}],"collection":[{"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/product"}],"about":[{"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/types\/product"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/comments?post=2455"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/media\/4478"}],"wp:attachment":[{"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/media?parent=2455"}],"wp:term":[{"taxonomy":"product_cat","embeddable":true,"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/product_cat?post=2455"},{"taxonomy":"product_tag","embeddable":true,"href":"https:\/\/www.gsnv.org\/wp-json\/wp\/v2\/product_tag?post=2455"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}