start here

start here

The Daily IKN email digest, get all daily posts sent to you next day (& no ads)

I say things on Twitter

12/12/18

ATAC Resources (ATC.v), Bristow's first victim (there will be more)


"VANCOUVER, Dec. 12, 2018 /CNW/ - ATAC Resources Ltd. (TSX-V:ATC) ("ATAC") announces that Barrick Gold Corporation ("Barrick") has terminated its option to acquire an interest in the Orion Project, located within ATAC's 100% owned Rackla Gold Property, Yukon."

And why so? Simple, Orion was not big enough and not good enough. It doesn't matter whether you've believed the ATC spiel on its beloved project over the years, a new broom is in town and bringing some cold, hard reality with it. We've know the hammer was going to start coming down with Bristow at the helm, ABX made this crystal clear a month ago:
"To approve so-called Tier 1 projects, with potential for more than 5 million ounces of gold, Barrick will require a 15 percent rate of return, based on a $1,000 gold price.... Tier 2 projects, with more than 3 million ounces of gold, will need a 20 percent return."

So today the first victim and don't expect ATC stock to have a great day. How long before NovaGold (NG) farce finally ends?

UPDATE at the open: ATAC? ATTACK!


Now 37% down.