Hemlo QuestionAfter listening to Barrick's presentation from yesterday’s CIBC Investor Conference I had one question about Hemlo. In the presentation he was very strong about the general theme of:
"Decision to focus on most profitable ounces and maximize cash flow while preserving optionality in new life-of-mine plans at $1,100 per ounce" With the Hemlo mine having costs of $1,239 per ounce for the first 9 months of 2013 and with not having much of a mine life remaining it doesn't seem like keeping Hemlo fits with this new plan that Barrick is putting together. Am I missing something? or could this be another property on the selling block? or could there possibly be an expansion of the property?
I know this isn't one of Barrick's major properties but as I am interested in mining in Ontario I am curious to know.