Barrick Gold Corporation, declared it has reached a contract to sell 100 percent of the Cowal mine in New South Wales, Australia to Evolution Mining for US$550 million in cash on closing.
Proceeds from the sale of Cowal will be used to pay down debt. The divestment of Cowal will also contribute to reduced general and administrative costs as Barrick completes the closure of its office in Perth, Australia. The transaction is predictable to be accomplished in the third quarter of 2015 and is subject to customary closing conditions.
Evolution Mining was created in late 2011 as a mid-tier Australian gold producer through a merger of Catalpa Resources and Conquest Mining. Evolution presently operates five gold and silver mines in Queensland and Western Australia. For the year ended June 30, 2014 the company produced about 428,000 gold equivalent ounces.
Credit Suisse is acting as financial advisor to Barrick. Davies Ward Phillips & Vineberg LLP and Herbert Smith Freehills LLP are acting as legal counsel to Barrick.
Barrick Gold Corporation produces and sells gold and copper. The company is also involved in exploration and mine development activities. It conducts mining, development and exploration, and other activities in various countries, counting the United States, Canada, Australia, Argentina, Chile, Peru, the Dominican Republic, Papua New Guinea, Tanzania, Zambia, and Saudi Arabia.
In an opening trade, Shares of McDermott International Inc. (NYSE:MDR), gained 1.53%, and is now trading at $5.57, after the offshore drilling contractor declared that it was awarded a large brownfield contract by Saudi Aramco for the “engineering, procurement, construction and installation of twelve jackets for offshore oil and gas fields in Saudi Arabian waters.”
The company didn’t disclose the value of the contract but noted that this is the second award McDermott has received from the Saudi Arabian oil company this year.
McDermott believes the work will be accomplished by the end of the 2016 first quarter.
McDermott International, Inc. operates as an engineering, procurement, construction, and installation company worldwide. The company operates through three segments: Asia Pacific, Americas, and the Middle East. It focuses on designing and executing offshore oil and gas projects.
Shares of Chevron Corporation (NYSE:CVX), during its Friday’s current trading session gained 0.20%, and is now trading at $103.45.
Chevron Corporation – the second-biggest U.S. oil producer by market value after Exxon Mobil Corp—has further reshaped its Asia-Pacific footprint by selling a stake in the operator of New Zealand’s sole refinery.
Chevron raised more than 82 million New Zealand dollars (US$59 million) through the sale of its around 11% interest in Refining NZ to institutional investors. WSJ Reports.
Chevron Corporation, through its auxiliaries, engages in the petroleum, chemicals, and power and energy operations worldwide. The company operates in two segments, Upstream and Downstream.
Finally, salesforce.com, inc. (NYSE:CRM), lost -0.61% Friday.
Salesforce declared Salesforce Wave for Big Data—enabling business users to unlock value from big data and gain new customer insights with the Salesforce Analytics Cloud. With leading innovators Google, Cloudera, Hortonworks, New Relic, Informatica and Trifacta joining the Analytics Cloud Partner Ecosystem, companies can now deliver big data analytics to business users and transform every customer relationship.
The digital universe is doubling in size every two years and will multiply 10-fold between 2013 and 2020—from 4.4 trillion to 44 trillion gigabytes.
This torrent of Web searches, clicks, tweets, mobile app usage and connected sensors is creating new opportunities for companies to reinvent themselves through data analytics. However, legacy analytics software was never designed to manage the volume, variety or velocity of big data.
salesforce.com, inc. provides enterprise cloud computing solutions, with a focus on customer relationship administration to various businesses and industries worldwide.
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This article was originally published on WS News Publishers at the following link … Friday’s Active Stocks in the Spotlight: Barrick Gold Corporation (NYSE:ABX), McDermott International Inc. (NYSE:MDR), Chevron Corporation (NYSE:CVX), salesforce.com, inc. (NYSE:CRM)