The Financial Post reports in its Friday edition that for Barrick Gold, the precious metal's blistering rally is looking like a great opportunity to raise some cash as the company looks to pivot harder into copper mining. A Bloomberg dispatch to the Post says that first, the company announced on Tuesday that it is exiting an Alaskan mining project by selling its 50-per-cent stake to billionaire John Paulson and Novagold Resources for $1-billion (all figures U.S.). Meanwhile, Barrick has signalled more deals on the horizon as it seeks buyers for mines in Africa and North America. The strategy follows a time-tested playbook that runs its course when prices of the precious metal surge: Sell smaller, aging gold mines at a time when they are likely to fetch much better prices than normal. Barrick's stake in the Alaska project sold for well above TD Bank's $600-million valuation for the investment. Newmont generated $4.3-billion on asset sales earlier this year -- blowing past its initial projections of $2-billion as bullion prices climbed. Shedding those assets allows miners like Barrick to focus on so-called "Tier 1" mines that deliver the bulk of the company's revenue, while freeing up cash to pursue development projects.