Barrick Gold Acquires 9.9% Stake in Kingfisher Metals for $14.8 Million

en.Wedoany.com Reported - Barrick Gold Corporation (TSX:ABX, NYSE:GOLD), the world's second-largest gold producer, announced on July 21, 2026, that it has acquired a 9.9% stake in Canadian exploration company Kingfisher Metals Corp. (TSX-V:KFR) for C$20.9 million (approximately US$14.8 million). Toronto-based Barrick Gold subscribed to 15.5 million shares of Kingfisher Metals at C$1.35 per share through a non-brokered private placement.

Barrick Gold Corporation, one of the world's largest gold producers headquartered in Toronto, Canada, operates across North America, South America, Africa, and the Asia-Pacific region, owning world-class mines such as Goldstrike, Pueblo Viejo, and Lumwana. Kingfisher Metals Corp. is a junior mining company focused on mineral exploration in the Golden Triangle region of British Columbia. Based in Vancouver, Canada, its flagship assets include multiple gold, copper, and silver exploration projects in the region, which is a globally renowned porphyry copper-gold metallogenic belt hosting several world-class mines and deposits.

Under the terms of the transaction, each share subscribed by Barrick Gold carries half a common share purchase warrant. Each full warrant entitles Barrick to subscribe for an additional common share of Kingfisher Metals at C$1.70 per share. If Barrick fully exercises these warrants, its stake would increase from the current 9.9% to 14.1% (on a diluted basis). Additionally, Barrick will have anti-dilution rights and information rights as long as it maintains at least a 5% stake.

This strategic investment marks a significant move by Barrick Gold to expand its exploration footprint in the Golden Triangle region of British Columbia. Known for its high-grade gold and copper mineralization, the region has attracted attention from several major mining companies in recent years. By taking a stake in Kingfisher Metals, Barrick Gold gains early access to high-quality exploration projects in the region with a relatively low capital outlay, while retaining flexibility for future increases. For Kingfisher Metals, this transaction not only provides financial support but also brings the endorsement of a top-tier global gold producer, helping to accelerate the exploration progress of its flagship projects. Kingfisher Metals stated that the proceeds from this financing will be used to advance its exploration work on projects in British Columbia.

On the day of the announcement, Kingfisher Metals' shares rose 23% to C$1.26 per share on the Toronto Stock Exchange, valuing the company at approximately C$134 million. Barrick Gold's shares increased 1.7% to C$49.88 per share, with a market capitalization of C$84.1 billion.