Barrick keen on Guyana Shield, Canada for exploration -executive

Reunion Gold

16/11/2018 17:22

TORONTO, Nov 16 (Reuters) - Barrick Gold  ABX.TO  is
interested in early-stage exploration in Africa's Guyana Shield
and wants "more exposure" in Canada, Executive Vice President of
Exploration Rob Krcmarov said in an investor presentation
Friday. 
    "We'd also look to copper opportunities that are within our
operating regions, but only if they meet our investment
criteria," he said via webcast from the London event.
    Barrick has a 15-percent stake in Reunion Gold  RGD.V , an
exploration company active in the Guyana Shield, which crosses
Suriname, Guyana and French Guyana. 
    Barrick will require a 15 percent rate of return, based on a
$1,000 gold price, to approve projects with more than 5 million
ounces of gold, said head of projects and evaluation Rod Quick.
For projects with more than 3 million ounces of gold it will
need a 20 percent return, he said in advance of the $6.1 billion
merger with Randgold Resources  RRS.L  expected to close Jan 1.

 (Reporting by Susan Taylor
Editing by Chizu Nomiyama)
 ((susan.taylor1@thomsonreuters.com; +1 416 941 8083; Reuters
Messaging: susan.taylor1.thomsonreuters.com@reuters.net))