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Barrick Gold (ABX) hopes its Pascua-Lama project will enter production in 2014, but don't count...

Barrick Gold (ABX) hopes its Pascua-Lama project will enter production in 2014, but don't count on it, TD Securities says; the firm now assumes first production in 2016 along with $1B additional capital costs after suspension of the Chilean portion. ABX is unlikely to cancel the project because of the importance to its long-term future, but a cancellation would be a "significantly positive impact" on its balance sheet.
Comments (2)
  • TDWelander
    , contributor
    Comments (639) | Send Message
     
    Thanks for the report. If you are correct and ABX is going to fight these fools, I appreciate knowing. The long term future justification seems right on. Although preserving capital, minimizing waste, appears paramount here. The two things environmentalists are experts at is wasting time and money. Worse, usually they do not care. Why they need to be exposed and blocked everywhere possible for interfering with good stewardship. Environmentalist education should not result in obstructionism of anything; which has been all too common; stunting humanity and the poor everywhere.
    12 Apr 2013, 10:43 AM Reply Like
  • Terry Rowe
    , contributor
    Comments (170) | Send Message
     
    And it's time for us Barrick shareholders to take a hand by telling Chile that we shareholders will respond to Chili's highhanded violations of legal contracts by boycotting Chilean imports (such as fruit), tourism to Chile, etc. Just Google the Chile Embassy for their address, phone numbers and email address.
    Chile needs to be hit in their pocketbook, just as we shareholders have!
    12 Apr 2013, 07:26 PM Reply Like
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