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Barrick Gold -2% as Q4 revenues fall 15%, 2019 gold cost guidance rises

|About: Barrick Gold Corporation (GOLD)|By:, SA News Editor

Barrick Gold (NYSE:GOLD) -2.2% pre-market after reporting in-line Q4 earnings and a 15% Y/Y revenue decline, as its average realized gold price fell 4% from the prior-year period to $1,223/oz.

Barrick says Q4 gold production fell 6% Y/Y to 1.26M oz. at all-in sustaining costs of $788/oz. and Q4 copper production was 109M lbs. at all-in sustaining costs of $2.95/lb.

For the full year, the company says gold production of 4.53M oz. was within guidance, at all-in sustaining costs of $806/oz., while full-year copper output of 383M lbs. also was within guidance, at all-in sustaining costs of $2.82/lb.

Barrick guides FY 2019 production of 5.1M-5.6M oz. of gold and 375M-430M lbs. of copper, with higher all-in sustaining costs guidance for gold of $870-$920/oz. primarily reflecting the planned completion of mining at the comparatively high-grade, low-cost Cortez Hills open pit in H1.

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