F-10: Barrick Mining Corporation Files for US$4 Billion Shelf Prospectus, Changes NYSE Ticker to 'B'

Barrick Mining Corporation files a short form base shelf prospectus for up to US$4 billion in securities and announces a change in its NYSE ticker symbol from 'GOLD' to 'B' effective May 9, 2025.

Summary

• Barrick Mining Corporation has filed a short form base shelf prospectus allowing the company to offer up to US$4 billion in securities.
• The securities that may be offered include common shares, debt securities, subscription receipts, warrants, share purchase contracts, and units.
• These securities may be offered separately or together, with terms determined by market conditions at the time of sale.
• The company's NYSE stock ticker symbol will change from GOLD to B on or about May 9, 2025.
• Barrick intends to use the net proceeds from the sale of securities for general corporate purposes.
• The company has an existing share buyback program authorizing the purchase of up to $1.0 billion in common shares.
• As of May 5, 2025, Barrick had 1,719,458,060 common shares issued and outstanding.
• Barrick's Board of Directors declared a first quarter dividend of US$0.10 per Common Share, which will be paid on June 16, 2025 to holders of record on May 30, 2025.

Sentiment

Score: 6

Explanation: The document is neutral in tone, primarily outlining a financial offering and corporate changes. The sentiment is moderately positive due to the financial flexibility the shelf prospectus provides, balanced by the inherent risks associated with such offerings.

Positives

• The shelf prospectus provides Barrick with financial flexibility to raise capital as needed.
• The share buyback program can enhance shareholder value.
• The company continues to pay a quarterly dividend of US$0.10 per share.

Negatives

• The document indicates that the mine in Mali was placed on temporary suspension in January 2025 due to disputes with the Government of Mali over the Loulo-Gounkoto complex.
• The document mentions that there is currently no market through which the Debt Securities, Subscription Receipts, Warrants, Share Purchase Contracts and Units may be sold and purchasers may not be able to resell any Debt Securities, Subscription Receipts, Warrants, Share Purchase Contracts or Units purchased under this Prospectus.

Risks

• The market may not develop for the Debt Securities, Subscription Receipts, Warrants, Share Purchase Contracts or Units.
• Prevailing interest rates will affect the market price or value of the Debt Securities.
• The Debt Securities will not be secured by assets of Barrick.
• Subordinated Debt Securities would be subordinated and postponed in right of payment to the prior payment in full of all other liabilities and indebtedness of Barrick.
• Issuances of a substantial number of additional Common Shares, or the perception that such issuances could occur, may adversely affect prevailing market prices for our Common Shares.
• Securities denominated or payable in foreign currencies may entail significant risks.
• The value of the Securities may also be affected by macroeconomic factors including investors inflation expectations, global equity prices and volatility, exchange rate volatility, interest rate volatility and global or regional political or economic uncertainties and outlook, including uncertainties related to global trade and the impact of changing tariffs in and on the countries in which we operate.

Future Outlook

Barrick may from time to time offer and issue securities, with the specific terms of any offering to be set out in the applicable Prospectus Supplement.

Industry Context

Barrick is a sector-leading gold and copper producer with annual gold production and gold reserves that are among the highest in the industry.

Stakeholder Impact

• Shareholders may experience dilution if new common shares are issued.
• The shelf prospectus provides Barrick with financial flexibility, which could benefit stakeholders in the long term.
• The share buyback program can enhance shareholder value.

Next Steps

• Barrick may offer securities from time to time under this prospectus.
• Each offering will be accompanied by a prospectus supplement containing specific details of the offering.

Key Dates

Keywords

Barrick, securities, prospectus, common shares, debt securities, subscription receipts, warrants, share purchase contracts, units, capital raise, mining