TORONTO — Barrick Gold Corp. has signed a deal to increase its stake in Hercules Silver Corp. to more than 10 per cent with an investment of $23.4 million.
Barrick currently owns 5,291,500 common shares of Hercules or a 2.73 per cent stake. Following the private placement, Barrick will hold 26,556,870 common shares of Hercules and 6,804,918 warrants, representing a 12.33 per cent stake in Hercules on a non-diluted basis and 15.02 per cent on a partially diluted basis.
OTTAWA -Canadian market participants expect the Bank of Canada to start cutting its key policy rate from a 22-year high of 5.00% in April 2024, a month later than the previous forecast, according to a survey released by the central bank on Monday. The survey showed a median of 27 financial participants expect interest rates to drop to 4.00% in the fourth quarter of 2024, up from an expectation of 3.50% in the previous survey released in July. The survey was conducted from Sept.