For the fourth quarter, Barrick Gold’s preliminary gold production was 1.619 million Oz and copper production was 138 million pounds. The Gold price was $1,105/
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Summary
For the fourth quarter, Barrick Gold’s preliminary gold production was 1.619 million Oz and copper production was 138 million pounds. The Gold price was $1,105/ Oz, copper was $2.16/lb.
ABX announced that it will have an impairment between $2.8-$3 billion due to a revised lower gold price assumption.
ABX is a well managed gold miner struggling in a depressed gold price market. I recommend a buy/accumulate for a long-term investment perspective.
Barrick Gold is a Canadian senior gold and copper miner. The company holds interests in several producing gold mines, which are located in North America, South America, and Australia Pacific; producing copper mines situated in Chile and Zambia; and a mine under construction is in Saudi Arabia.
Link: Company Website. Company last presentation at Goldman Sachs on Nov. 25, 2015.
