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In this May 23, 2013 photo, mining trucks sit parked on the facilities at the Barrick Gold Corp's Pascua-Lama project.
In this May 23, 2013 photo, mining trucks sit parked on the facilities at the Barrick Gold Corp's Pascua-Lama project.
(Jorge Saenz/AP)

Investors pass on Barrick offering, banks scramble

Barrick Gold Corp.’s huge $3-billion (U.S.) stock sale is a slow seller, market sources said.

The banks leading the deal were still pushing just before markets opened for Friday’s session to move the stock. When trading opened in Toronto and New York, the stock slumped below the issue price. That is often a sign of weak demand, and makes it hard for the banks to sell stock as investors can buy more cheaply in the market.