The possibility of a merger or Barrick Gold Corp. and Newmont Mining Corp. isn’t dead yet, according to The Wall Street Journal
which reported on April 23 that Barrick has reached out to Newmont with revised terms.

Talks between to the two companies, the two largest gold miners in the world, stalled on April 21 (ME, April 21) when the two sides could not agree on a spinoff of assests in Australia and New Zealand.

The Wall Street Journal said since the talks broke down the two sides have been in informal talks. The Wall Street Journal cites people familiar with the matter, but does not provide names.

While the talks continues, a merger is far from certain. Barrick has yet to receive a response from its U.S. rival after the email was sent to Newmont's senior management on April 22, these people said.

Formal high-level talks weren't expected to continue until at least after Newmont's annual general meeting, which happened April 23y, according to people familiar with the matter.

Merging the companies, which have a combined market value of more than $30 billion, would create a natural-resources giant with mines ranging from Indonesia to Africa and throughout North and South America.

The two sides have tried to come together at least three times before, leading some analysts to question whether they will complete a deal this time.

Barrick Chairman Peter Munk said that it was "difficult to find a reason" for his company not to merge with Newmont in a deal that he said would provide cost savings given the proximity of the companies' mines in Nevada.

In coming together, both sides are looking at savings of $1 billion, people familiar with the matter said.