Barrick Gold Corp T.ABX

Alternate Symbol(s): GOLD

Metals & Mining Gold

Barrick Gold Corporation is a Canada-based gold and copper producer, which is engaged in the production and sale of gold and copper, as well as related activities, such as exploration and mine development. It has ownership interests in producing gold mines that are located in Argentina, Canada, Cote d'Ivoire, the Democratic Republic of the Congo, the Dominican Republic, Mali, Tanzania and the United States. It has ownership interests in producing copper mines in Chile, Saudi Arabia and Zambia. Its operations include Nevada Gold Mines, Bulyanhulu, Hemlo, Jabal Sayid, Kibali, Loulo-Gounkoto, Lumwana, North Mara, Porgera, Pueblo Viejo, Tongon, Veladero and Zaldivar. Its Bulyanhulu operation is located in north-west Tanzania, approximately 55 kilometers (km) south of Lake Victoria and 150 km southwest of the city of Mwanza. The Hemlo operation is located north of Lake Superior on the Trans-Canada Highway, approximately 35 km east of Marathon, Ontario, and it is an underground operation.

TSX:ABX - Post by User

Barrick Gold Corp

Bullboard Posts

Post by Lestat_MTLon Jun 30, 2013 2:42pm

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Post# 21582111

Barrick cash - 2 questions

Question 1: Does anyone know if Barrick's holds its cash in CAD or USD? What % of each?

The financial statement of course says: "(in millions of United States dollars) (Unaudited) Cash and equivalents (note 16A) $2,342"; but that could merely be an accounting standard and does not necessarily mean ABX's bank account contains all US dollars.

Question 2: Does Barrick have hedges against a possible decline in the USD?
On page 52 ([url=https://www.sedar.com/GetFile.do?lang=EN&docClass=5&issuerNo=00000923&fileName=/csfsprod/data141/filings/02048785/00000001/s%3A\Toronto\Nathan_Cole\BARRfs424.pdf]Link[/url])

there is a list of what appears to be currency hedges.

Currency contracts
A$:US$ contracts (A$ millions)
C$:US$ contracts (C$ millions)
CLP:US$ contracts (CLP millions)
PGK:US$ contracts (PGK millions)
ZAR:US$ contracts (ZAR millions)

Does anyone know more about those contracts?
Essentially I want to know if Barrick is subject to be hurt by USD decline (which I am personnally presuming and factoring into my forward looking valuations).