Barrick Extension Comes as No Surprise

Barrick Gold Corporation (NYSE: ABX) announced the third extension of its tender offer for NovaGold Resources Inc. (AMEX, TSX: NG) at a price of US$14.50. The new expiry date is October 24, 2006. The extension comes as no surprise as we see the acquisition by ABX as essential to maintain their production pipeline. See full report.