Barrick Reports First Quarter 2017 Results
TORONTO, April 24, 2017
PDF | Supplemental Information | All amounts expressed in U.S. dollars unless otherwise indicated
- Barrick reported first quarter net earnings attributable to equity holders (“net earnings”) of $679 million ($0.58 per share), and adjusted net earnings of $162 million ($0.14 per share).
- The Company reported first quarter revenues of $1.99 billion, net cash provided by operating activities (“operating cash flow”) of $495 million, and free cash flow of $161 million.
- Gold production in the first quarter was 1.31 million ounces, at a cost of sales applicable to gold of $833 per ounce, and all-in sustaining costs of $772 per ounce.
- We announced a Strategic Cooperation Agreement with Shandong Gold, including the sale of 50 percent of Veladero for $960 million. As a next step, both companies will jointly explore the potential development of Pascua-Lama, and will evaluate additional investment opportunities.
- We further optimized our portfolio through the creation of a new joint venture with Goldcorp at the Cerro Casale project.
- Total debt was reduced by $178 million in the first quarter.
- Full-year gold production is now expected to be 5.3-5.6 million ounces, down from our previous range of 5.6-5.9 million ounces. Approximately two-thirds of this reduction is attributable to the anticipated sale of 50 percent of Veladero. Cost of sales and all-in sustaining cost guidance for the full year remains unchanged.
- A comprehensive plan to strengthen and improve the Veladero mine’s operating systems is now under review by federal and provincial authorities in Argentina. Our adjusted guidance assumes normal leaching activities will resume in June, pending government approval and the lifting of judicial restrictions.
- Barrick will hold its first Sustainability Briefing for investors on May 9, 2017. Visit www.barrick.com for webcast information.
Continue reading the full press release at www.barrick.com/news.
Conference Call and Webcast
Tuesday, April 25, 4:30 PM ET
Please join us tomorrow afternoon to discuss the results. You may access the webcast here, or participate by phone. Within North America, please dial 1-800-319-4610; elsewhere, please dial +1 416-915-3239.
INVESTOR CONTACT
Daniel Oh
Senior Vice President
Investor Engagement and Governance
Telephone: +1 416 307-7474
Email: doh@barrick.com
MEDIA CONTACT
Andy Lloyd
Senior Vice President
Communications
Telephone: +1 416 307-7414
Email: alloyd@barrick.com
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161 Bay Street, 37th Floor
Toronto, Ontario M5J 2S1
Telephone: +1 416 861-9911
Email: investor@barrick.com
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Date Sent: 4/24/2017 5:15:20 PM |
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First Quantum Minerals Ltd.
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PRODUCER |
CODE : FM.TO |
ISIN : CA3359341052 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
First Quantum is a copper producing company based in Canada. First Quantum produces copper, cobalt and gold in Congo Dem. Rep. of, in Mauritania and in Zambia, develops cobalt, copper and nickel in Congo Dem. Rep. of and in Zambia, and holds various exploration projects in Peru. Its main assets in production are BWANA MKUBWA, KANSANSHI and MOPANI in Zambia, FRONTIER and KOLWEZI in Congo Dem. Rep. of and GUELB MOGHREIN in Mauritania, its main assets in development are KALUMBILA in Zambia and KOLWESI MUSONOI in Congo Dem. Rep. of and its main exploration properties are KEVITSA and KEVISTA in Finland, KIPUSHI in Congo Dem. Rep. of and HAQUIRA EAST and CRISTO DE LOS ANDES in Peru. First Quantum is listed in Canada, in Germany, in United Kingdom and in United States of America. Its market capitalisation is CA$ 10.2 billions as of today (US$ 8.1 billions, € 7.1 billions). Its stock quote reached its lowest recent point on November 02, 2001 at CA$ 0.38, and its highest recent level on April 17, 2024 at CA$ 14.78. First Quantum has 689 369 984 shares outstanding. |