At Denver Gold Show, Barrick offers view of strong production, below-peer costs


Barrick Gold (ABX +1.7%) is higher after finishing its presentation at the Denver Gold Show, where it reaffirmed its production guidance at 7M-7.4M oz. with a $900-$975/oz. all-in sustaining cash cost well below its peer group; 60% of the production comes from just five mines (Briefing.com).

ABX says it has no plans to build any new mines, which may mean lower production but it would be higher quality production.

Says its focus is on cost reduction via lower 2013 budgeted capex and costs by ~$2B, significant improved 2013 guidance for all-in sustaining cash costs,  progressing overhead and operational reviews.

Still optimistic about the Pascua-Lama mine, expecting significant cash flow generation and operating costs in the first quartile of the industry cost curve.

From other sites
Comments (2)
  • Uncle Pie
    , contributor
    Comments (4322) | Send Message
     
    Did they say anything about their debt of about $14 billion?
    24 Sep 2013, 06:45 PM Reply Like
  • TDWelander
    , contributor
    Comments (624) | Send Message
     
    Most of Barrick debt is long term. Meaning they are done with major expansions unless the gold price surges and stays there. Or, they find another Pascua Lama high yield type project without the political environmental miss mash and chaos.
    26 Sep 2013, 12:44 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs