Barrick Holds 10.34% Hercules Stake as Kibali Staff Stand Down and North American IPO Takes Shape
Published on 11/15/2026 at 16:50 | Editorial boerse-global.de
Barrick Mining has signalled it will exercise its participation right in full at Hercules Metals, keeping its 10.34% holding intact through the junior explorer's latest financing. Hercules said Thursday that the gold major had given notice of its intent, a move expected to channel roughly C$5,775,392 into the placement.
Combined with the bought deal financing, Hercules is targeting gross proceeds of about C$55.8 million. Barrick's commitment is designed to preserve its existing stake as the raise goes ahead rather than to build a larger position.
Precaution at Kibali
Far from the financing desk, Barrick has placed a portion of the workforce and contractors at its Kibali gold mine in the Democratic Republic of Congo on precautionary leave. Reuters reported the move Thursday, citing an internal company memo, after two Ebola deaths were confirmed in a nearby community.
The memo indicates Barrick examined possible links between the cases in the community and its own employees. The stand-down covers part of the staff and subcontractors and is described as a safeguard rather than a response to any confirmed case on site.
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Investors took the news in stride. The stock slipped 0.6% on Friday to close at CAD 53.65.
A North American Spin-Off in the Pipeline
Barrick had earlier filed for an initial public offering of American Barrick Gold Corporation, the vehicle intended to house its North American gold assets. Proceeds from the listing are to flow to Barrick itself, which expects to return them to shareholders. Neither the number of shares on offer nor a price range had been set when the plan was announced.
Third-Quarter Earnings: Two Ways of Reading the Same Quarter
The company's Q3 2026 results, released Monday, showed revenue of US$5.07 billion against US$4.15 billion a year earlier. Profit came in at US$1.32 billion, up from US$1.30 billion in the prior-year quarter, while adjusted net earnings reached US$1.35 billion, or $0.82 per share.
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Gold output for the quarter totalled 816,000 ounces — a figure Barrick called its fourth consecutive quarter of strong operational performance. Management reaffirmed full-year 2026 guidance of 2.90 to 3.25 million ounces of gold and 190,000 to 220,000 tonnes of copper.
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