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Barrick Gold Corp T.ABX

Alternate Symbol(s):  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

Bullboard Posts
Comment by bodiggityon Feb 17, 2016 5:26pm
58 Views
Post# 24568120

RE:RE:What time does the report come out?

RE:RE:What time does the report come out?
PRESS RELEASE

Barrick Reports 2015 Full Year and Fourth Quarter Results- Growing Free Cash Flow Through Expanding Margins and Superior Portfolio Management

Published: Feb 17, 2016 5:02 p.m. ET

 
 

TORONTO, ONTARIO, Feb 17, 2016 (Marketwired via COMTEX) -- Barrick Gold Corporation ABX, +2.59% (ABX)

 -- In 2015, Barrick produced 6.12 million ounces of gold, in line with the company's revised outlook for the year. All-in sustaining costs of $831 per ounce(1) in 2015 were below our original guidance of $860-$895 per ounce, and at the low end of our revised outlook of $830-$870 per ounce. -- In 2015, despite lower gold prices, Barrick recorded positive free cash flow for the first time in four years, generating $471 million(1,2)in free cash flow for the full year, and $387 million in the fourth quarter. -- Adjusted net earnings were $344 million ($0.30 per share)(1)for the full year and $91 million ($0.08 per share) in the fourth quarter. A net loss of $2.84 billion ($2.44 per share) for the full year and $2.62 billion ($2.25 per share) in the fourth quarter reflects the impact of $3.1 billion in previously announced after-tax impairment charges. -- For 2016, production guidance is 5.0-5.5 million ounces of gold at all- in sustaining costs of $775-$825 per ounce, and 370-410 million pounds of copper at all-in sustaining costs of $2.05-$2.35 per pound.(1,3) -- Barrick's over-arching objective is to generate, and ideally grow, free cash flow in any foreseeable gold price environment. In support of this, our aspiration is to achieve all-in sustaining costs below $700 per ounce by 2019. -- In 2015, the company's total debt was reduced by $3.1 billion, or 24 percent; our debt reduction target for 2016 is at least $2 billion. -- Proven and probable gold reserves were 91.9 million ounces as of December 31, 2015.(4) In addition, we have reported an initial inferred resource of 5.5 million ounces at our Alturas discovery in Chile. -- Barrick Investor Day webcast information and presentations will be available on February 22 at www.barrick.com. Please join us for additional insights into our strategic thinking, including operational plans and priorities, financial analysis, and a project pipeline update.

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