Barrick Gold Corp. chief executive officer Mark Bristow seems determined to drive consolidation in Canadian mining through sheer force of will.
If just a few institutional investors are willing to join the endearingly blunt CEO’s crusade, then long-predicted takeovers among the country’s mid-tier gold plays may finally come to pass.
Mr. Bristow banged the drum for deals last month at the World Gold Forum, a widely followed annual event in Denver that drew even more eyeballs by going virtual this year.
Departing from the usual script for CEOs at conferences – talking up your own company – Barrick’s boss praised rival Kirkland Lake Gold Ltd., author of last year’s controversial $4.9-billion takeover of Detour Gold Corp.
Mr. Bristow questioned why investors were initially skeptical of Kirkland Lake’s plans to bulk up – the company’s stock dropped 17 per cent on news of the all-stock deal.