Barrick Spinoff Says ‘Be Contrarian’ as Gold Mines Never Cheaper

Barrick Gold Corp.’s African spinoff says gold mines have never been cheaper as it seeks to take advantage of an industry slump to expand its business.

The biggest miners racked up $30 billion of debt in a 12-year bull run for gold that spurred new mines and acquisitions. Those investments have turned to millstones for many after costs jumped and gold prices sank almost 40 percent from their peak. That’s an opportunity for those with cash and courage.