NYSE- and TSX-listed major Barrick Gold has bought a 13.67% shareholding in the company that owns a project adjacent to its Pueblo Viejo mine, in the Dominican Republic.
Barrick agreed to acquire 12 713 636 common shares in Vancouver-based Precipitate Gold at C$0.11 a share, for an aggregate subscription price of nearly C$1.4-million.
This grants Barrick an exclusive right to earn a 70% interest in Precipitate’s Pueblo Grande project.
The Dominican Republic investment follows an announcement on Monday that Barrick would acquire a 70% interest in NYSE- and TSX-listed Golden Minerals’ El Quevar silver project, in Argentina.