Barrick reported Q1 net income of $514 million, a 29% increase over the prior year's adjusted net income. Gold production was 1.74 million ounces at total cash costs of $393 per ounce, while copper production was 87 million ounces at $0.94 per pound. The company maintained its full-year production guidance. Significant progress continued on projects such as Buzwagi and Cortez Hills. Exploration spending was $179 million in 2007 and is budgeted at $200 million for 2008, focused on reserve growth and conversion near existing mines.
First Quantum Minerals Corporate Presentation - May 2014FirstQuantum
First Quantum Minerals is a global mining company with operations in 8 countries. It produced over 400,000 tonnes of copper in 2013 at a cash cost of $1.30/lb. The company has 5 major projects under development that will increase copper and nickel production capacities significantly by 2018. Its flagship project is the Cobre Panama copper project, which is expected to produce on average 320,000 tonnes of copper per year over its 34 year mine life. First Quantum has a strong track record of developing projects efficiently and within budget.
This document provides an overview and update of First Quantum Minerals for 2017. It begins with cautionary notes about forward-looking statements. It then summarizes that First Quantum is a leading copper producer that has seen unrivaled growth in copper production through projects like Sentinel mine and Cobre Panama. Cobre Panama remains on track for phased commissioning beginning in 2018. First Quantum also had a strong 2016 with record production and sales, lower costs, and strengthened financial position. Guidance is given for 2017-2019 production volumes and costs. Capital expenditure plans include continuing investment in Cobre Panama.
Petrobras reported financial results for the 2nd quarter of 2011, with net income of R$10.9 billion, in line with 1Q11 results. Domestic oil and gas sales volumes increased 7% compared to 1Q11 and 9% compared to 2Q10. Three new extended well tests were implemented in pre-salt areas. Production is expected to increase in the second half of the year with the start-up of new offshore fields and platforms. Drilling in the Santos Basin pre-salt continues at an accelerated pace with high exploration success.
The document provides an overview and update of First Quantum Minerals Ltd.'s priorities and developments amid volatile market conditions and low commodity prices. It summarizes that the company is focusing on operating safe and efficient mines, protecting its balance sheet, ensuring profitability and cash flows are maximized, and limiting cash outflows to essential projects. Key points include starting a copper hedge program, reducing debt through asset sales, and decreasing capital expenditures while progressing its Cobre Panama project on schedule.
Marathon Oil Corporation reported financial results for the first quarter of 2006 with net income of $784 million compared to $324 million in the first quarter of 2005. All business segments experienced increased earnings. Exploration and production benefited from higher oil and gas prices and sales volumes. Refining and marketing increased profits due to favorable refining margins and higher fuel sales. Major projects remained on schedule including the Equatorial Guinea LNG facility. The company will continue growing production 8-11% annually through 2008.
- Occidental Petroleum reported lower net income and core earnings for Q4 2008 compared to Q4 2007, due to lower oil and gas prices and higher operating expenses. However, full year 2008 was highly profitable, with record annual earnings.
- For Q4 2008, daily oil and gas sales volumes were up slightly from the previous year, but earnings from oil and gas operations declined significantly due to lower commodity prices.
- While Q4 results suffered from market conditions, Occidental emphasized that 2008 was still a very strong year overall and that they will invest $3.5 billion in 2009 to continue growth, despite volatile prices.
Marathon Oil Corporation reported its second quarter 2003 results, with net income of $248 million compared to $168 million in the second quarter of 2002. The company had exploration successes offshore Angola and Norway. It also established itself in a new core area by acquiring Khanty Mansiysk Oil Corporation and related assets in Western Siberia. Marathon advanced its integrated gas strategy by signing agreements for a proposed liquefied natural gas project in Equatorial Guinea.
This document provides an overview and summary of Petrobras' 2nd Quarter 2012 financial results. Key points include:
- Petrobras reported a loss in 2Q12 versus a profit in 1Q12, due to factors like exchange rate devaluation, lower oil product prices in Brazil, production stoppages, and increased exploration expenses.
- The average exchange rate depreciated in 2Q12 compared to 1Q12, negatively impacting costs.
- Operational highlights included refining throughput records and advances in contracting for offshore oil development.
- 2Q12 results were affected by unique factors that are unlikely to occur together or at the same intensity in future quarters.
First Quantum Minerals Corporate Presentation - May 2014FirstQuantum
First Quantum Minerals is a global mining company with operations in 8 countries. It produced over 400,000 tonnes of copper in 2013 at a cash cost of $1.30/lb. The company has 5 major projects under development that will increase copper and nickel production capacities significantly by 2018. Its flagship project is the Cobre Panama copper project, which is expected to produce on average 320,000 tonnes of copper per year over its 34 year mine life. First Quantum has a strong track record of developing projects efficiently and within budget.
This document provides an overview and update of First Quantum Minerals for 2017. It begins with cautionary notes about forward-looking statements. It then summarizes that First Quantum is a leading copper producer that has seen unrivaled growth in copper production through projects like Sentinel mine and Cobre Panama. Cobre Panama remains on track for phased commissioning beginning in 2018. First Quantum also had a strong 2016 with record production and sales, lower costs, and strengthened financial position. Guidance is given for 2017-2019 production volumes and costs. Capital expenditure plans include continuing investment in Cobre Panama.
Petrobras reported financial results for the 2nd quarter of 2011, with net income of R$10.9 billion, in line with 1Q11 results. Domestic oil and gas sales volumes increased 7% compared to 1Q11 and 9% compared to 2Q10. Three new extended well tests were implemented in pre-salt areas. Production is expected to increase in the second half of the year with the start-up of new offshore fields and platforms. Drilling in the Santos Basin pre-salt continues at an accelerated pace with high exploration success.
The document provides an overview and update of First Quantum Minerals Ltd.'s priorities and developments amid volatile market conditions and low commodity prices. It summarizes that the company is focusing on operating safe and efficient mines, protecting its balance sheet, ensuring profitability and cash flows are maximized, and limiting cash outflows to essential projects. Key points include starting a copper hedge program, reducing debt through asset sales, and decreasing capital expenditures while progressing its Cobre Panama project on schedule.
Marathon Oil Corporation reported financial results for the first quarter of 2006 with net income of $784 million compared to $324 million in the first quarter of 2005. All business segments experienced increased earnings. Exploration and production benefited from higher oil and gas prices and sales volumes. Refining and marketing increased profits due to favorable refining margins and higher fuel sales. Major projects remained on schedule including the Equatorial Guinea LNG facility. The company will continue growing production 8-11% annually through 2008.
- Occidental Petroleum reported lower net income and core earnings for Q4 2008 compared to Q4 2007, due to lower oil and gas prices and higher operating expenses. However, full year 2008 was highly profitable, with record annual earnings.
- For Q4 2008, daily oil and gas sales volumes were up slightly from the previous year, but earnings from oil and gas operations declined significantly due to lower commodity prices.
- While Q4 results suffered from market conditions, Occidental emphasized that 2008 was still a very strong year overall and that they will invest $3.5 billion in 2009 to continue growth, despite volatile prices.
Marathon Oil Corporation reported its second quarter 2003 results, with net income of $248 million compared to $168 million in the second quarter of 2002. The company had exploration successes offshore Angola and Norway. It also established itself in a new core area by acquiring Khanty Mansiysk Oil Corporation and related assets in Western Siberia. Marathon advanced its integrated gas strategy by signing agreements for a proposed liquefied natural gas project in Equatorial Guinea.
This document provides an overview and summary of Petrobras' 2nd Quarter 2012 financial results. Key points include:
- Petrobras reported a loss in 2Q12 versus a profit in 1Q12, due to factors like exchange rate devaluation, lower oil product prices in Brazil, production stoppages, and increased exploration expenses.
- The average exchange rate depreciated in 2Q12 compared to 1Q12, negatively impacting costs.
- Operational highlights included refining throughput records and advances in contracting for offshore oil development.
- 2Q12 results were affected by unique factors that are unlikely to occur together or at the same intensity in future quarters.
1) The results announcement reported a 5% increase in EBITDA and 4% increase in net income for the 1st quarter of 2010 compared to the 4th quarter of 2009.
2) Oil and natural gas liquids production reached a new monthly record in April 2010 of over 2 million barrels per day.
3) Capital expenditures for the quarter totaled over $17 billion and several new production units are expected to come online throughout 2010 and boost total production capacity.
4) Drilling continues in the pre-salt region with five appraisal wells and plans to lease the first floating production unit, indicating the huge potential of pre-salt reserves.
Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia and Sweden, and care and maintenance and development projects in Chile. The
Company is focused on growing production at its gold and antimony operation in Australia, and gold production from its operation in Sweden to generate near-term cash flow.
Webcast 4th Quarter and Fiscal Year 2008 Petrobras
The document summarizes Petrobras' 4th quarter and fiscal year 2008 results. Key points include:
- Oil and gas production levels decreased slightly in 4Q08 due to natural field declines and stoppages. New production systems helped offset declines.
- Prices and margins decreased significantly in 4Q08 compared to 3Q08 due to lower global oil prices.
- Exploration and Production results were affected by lower prices and impairment charges. Downstream was impacted by inventory holding losses.
- Cash flow from operations was positive despite lower earnings, helped by inventory reductions. Leverage increased due to debt and currency devaluation.
- Royal Gold reported solid financial results for the first quarter of 2015, with net income up 23% and adjusted EBITDA of $0.86 per share, despite a 3% decline in the gold price.
- Production at Mt. Milligan continues to ramp up, reaching over 135,000 ounces of gold produced year-to-date. Throughput is expected to reach design capacity by year-end.
- Construction at the Phoenix gold project remains on schedule for a mid-2015 start-up. Over half of the project has been completed and mill assembly is underway.
- Marathon Oil Corporation reported third quarter 2003 net income of $281 million, up significantly from $87 million in third quarter 2002.
- Exploration success included discoveries offshore Angola, Equatorial Guinea, Gulf of Mexico and Norway. Production from new fields in the UK and Alaska began.
- Refining throughput reached record levels at Marathon Ashland Petroleum (MAP) facilities. The Cardinal Pipeline and Catlettsburg refinery project advanced.
- Asset sales totaled nearly $1 billion year-to-date, with proceeds reinvested in new acquisitions and operations. Organizational changes aimed to increase efficiency and savings.
This document provides a summary of Royal Gold's presentation at the CIBC 18th Annual Whistler Institutional Investor Conference in January 2015. Royal Gold highlights its solid portfolio and future growth opportunities. It discusses the ramp-up of production at its key asset, Mt. Milligan mine. It also outlines construction progress at the Phoenix gold project. Royal Gold emphasizes the quality of its portfolio, with over 90% of reserves from investment-grade countries. It has over $900 million in capital to invest in new royalty and streaming deals.
Petrobras announced its 4th quarter 2010 results. Key highlights included record oil production in Brazil of 2,256 thousand barrels per day in December 2010. International production increased 3% compared to 2009. Several new production systems and gas treatment units started up in 2010. Proven reserves totaled nearly 16 billion barrels of oil equivalent according to ANP criteria, with over 1 billion added from the Santos pre-salt area. Investments in 2010 were R$76.4 billion, up 8% from 2009.
The document summarizes the company's financial results for the 1st quarter of 2009. It reported a 3% increase in domestic oil, NGL, and natural gas production compared to the 4th quarter of 2008 due to new production systems coming online. Operating income decreased compared to the previous quarter primarily due to lower oil prices and sales volumes, though cost reductions partially offset this. New discoveries were also announced in pre-salt areas that will help drive future growth.
An updated slide deck with lots of interesting charts and graphs outlining where Rice has been, and where they are heading with their Marcellus/Utica drilling program (and midstream program).
Petrobras announced its second quarter 2010 results. Net income increased 7% to R$8.3 billion. New oil discoveries in the Campos Basin pre-salt are estimated to contain 500 million barrels of recoverable oil. Production is increasing with the start-up of new production units such as the FPSO Capixaba in Espírito Santo. Planned investments total $224 billion through 2014 according to the new business plan. Oil and gas production increased year-over-year due to contributions from new projects.
Conference Call/Webcast
October 29th, 2012
» QUARTER HIGHLIGHTS
» Net Income of R$5,567 million and EBITDA of R$14,375 million
» Oil production in Brazil of 1,904 kboed (-3% vs. 2Q12) and natural gas of 377 kboed (+4% vs. 2Q12)
» Start up of FPSO Cidade de Anchieta in September 10th
» Current production: 42 kbpd with 3 wells
» Production peak (100 kbpd): March/2013
» Discoveries: Grana Padano (Espirito Santo), Pecém (Ceará), Barra and Moita Bonita (Sergipe Alagoas)
» Record refinery output (2,026 kbpd in 3Q12 vs. 1,886 kbpd in 3Q11)
» Start up of REPAR’s Coking unit
» 7th consecutive year in the Dow Jones Sustainability Index
This corporate presentation provides an overview of Great Panther Mining Limited, a primary silver producer with two mines in Mexico and exploration properties in Mexico and Peru. It summarizes Q2 2017 production results including 348,130 ounces of silver produced at the Guanajuato Mine Complex at a cash cost of $2.48 per ounce. It also provides an update on operations at the Topia Mine in Mexico and guidance for 2017 production and costs.
Marathon Oil Corporation reported net income of $193 million for Q2 2002, down from $593 million in Q2 2001. Earnings were lower primarily due to decreased natural gas prices and narrow differentials between sweet and sour crude oil prices. However, results improved over Q1 2002. Marathon strengthened its core asset positions through acquisitions in the Powder River Basin, Equatorial Guinea, and Norway during the quarter. Production averaged 424,000 barrels of oil equivalent per day, in line with guidance for full-year 2002.
- First Quantum Minerals is a global copper producer with high-quality, cash-generating mines and imminent new production from its Cobre Panama project.
- The company has executed a strategy to focus on margin improvement, sell non-core assets, limit cash outflow, and restructure its balance sheet to fund development of Cobre Panama.
- Cobre Panama is on track and ramping up, with the potential to produce over 300,000 tonnes of copper annually by 2020, which would place First Quantum among the top copper producers globally.
The document discusses PVA's transition from a natural gas producer to an oil and liquids producer through acquisitions in the Eagle Ford Shale. It has grown its oil and natural gas liquids production significantly and expanded its acreage position in the Eagle Ford. PVA's strategy is to continue developing the Eagle Ford, expanding its oil and liquids reserves and production, while retaining its substantial gas assets. This transition has shifted the value of PVA towards oil as oil and natural gas liquids prices have increased relative to natural gas prices.
The document provides an overview of Petrobras' 4th quarter and full year 2011 results, highlighting a 16.41 billion barrel increase in proven oil reserves, a 2% increase in total oil and gas production to 2.62 million barrels per day, and investments of R$73 billion in 2011, 47% of which went to exploration and production activities. Petrobras also discussed its exploration successes in 2011, production outlook for 2012, and progress made in developing pre-salt fields in the Campos and Santos basins.
- The document provides Management's Discussion and Analysis of Claude Resources Inc. for the third quarter of 2012, including production highlights from their Seabee Gold Operation and financial results.
- Production at the Seabee Gold Operation increased 33% compared to Q3 2011, totaling 15,073 ounces. Cash flow from operations before changes in working capital was $8.6 million for Q3 2012.
- Exploration continued during the quarter at the Seabee, Amisk, and Madsen properties, with a focus on expanding resources around the Seabee mine and testing targets at Madsen.
Marathon Oil Corporation reported financial results for the third quarter of 2005, with net income of $770 million compared to $222 million in the third quarter of 2004. Revenues increased to $17.2 billion from $12.3 billion. Exploration and production income increased due to higher oil and gas prices, though production was slightly below guidance due to Gulf of Mexico hurricanes. Refining and marketing income also increased due to strong performance despite hurricane impacts. The company continued major investments across all segments and production is recovering from the hurricanes.
Marathon Oil Corporation reported strong financial results for the second quarter of 2006, with net income of $1.748 billion compared to $673 million in the second quarter of 2005. Earnings were boosted by higher oil and gas prices and sales volumes. The company invested over $9 billion in projects over the past 18 months. Marathon completed the sale of its Russian business and continues to advance major projects globally. Upstream income increased due to higher commodity prices and volumes, particularly in Libya and Equatorial Guinea.
BOA/ML Global Metals, Mining & Steel Conferenceq4help
Goldcorp's presentation discusses the company's strategy of building on past successes to continue growth. It highlights key projects and mines such as Cerro Negro and Éléonore that are expected to be new drivers of growth. The presentation also emphasizes Goldcorp's commitment to financial discipline, cost control, and capital allocation to create long-term shareholder value.
1) The results announcement reported a 5% increase in EBITDA and 4% increase in net income for the 1st quarter of 2010 compared to the 4th quarter of 2009.
2) Oil and natural gas liquids production reached a new monthly record in April 2010 of over 2 million barrels per day.
3) Capital expenditures for the quarter totaled over $17 billion and several new production units are expected to come online throughout 2010 and boost total production capacity.
4) Drilling continues in the pre-salt region with five appraisal wells and plans to lease the first floating production unit, indicating the huge potential of pre-salt reserves.
Mandalay Resources is a Canadian-based natural resource company with producing assets in Australia and Sweden, and care and maintenance and development projects in Chile. The
Company is focused on growing production at its gold and antimony operation in Australia, and gold production from its operation in Sweden to generate near-term cash flow.
Webcast 4th Quarter and Fiscal Year 2008 Petrobras
The document summarizes Petrobras' 4th quarter and fiscal year 2008 results. Key points include:
- Oil and gas production levels decreased slightly in 4Q08 due to natural field declines and stoppages. New production systems helped offset declines.
- Prices and margins decreased significantly in 4Q08 compared to 3Q08 due to lower global oil prices.
- Exploration and Production results were affected by lower prices and impairment charges. Downstream was impacted by inventory holding losses.
- Cash flow from operations was positive despite lower earnings, helped by inventory reductions. Leverage increased due to debt and currency devaluation.
- Royal Gold reported solid financial results for the first quarter of 2015, with net income up 23% and adjusted EBITDA of $0.86 per share, despite a 3% decline in the gold price.
- Production at Mt. Milligan continues to ramp up, reaching over 135,000 ounces of gold produced year-to-date. Throughput is expected to reach design capacity by year-end.
- Construction at the Phoenix gold project remains on schedule for a mid-2015 start-up. Over half of the project has been completed and mill assembly is underway.
- Marathon Oil Corporation reported third quarter 2003 net income of $281 million, up significantly from $87 million in third quarter 2002.
- Exploration success included discoveries offshore Angola, Equatorial Guinea, Gulf of Mexico and Norway. Production from new fields in the UK and Alaska began.
- Refining throughput reached record levels at Marathon Ashland Petroleum (MAP) facilities. The Cardinal Pipeline and Catlettsburg refinery project advanced.
- Asset sales totaled nearly $1 billion year-to-date, with proceeds reinvested in new acquisitions and operations. Organizational changes aimed to increase efficiency and savings.
This document provides a summary of Royal Gold's presentation at the CIBC 18th Annual Whistler Institutional Investor Conference in January 2015. Royal Gold highlights its solid portfolio and future growth opportunities. It discusses the ramp-up of production at its key asset, Mt. Milligan mine. It also outlines construction progress at the Phoenix gold project. Royal Gold emphasizes the quality of its portfolio, with over 90% of reserves from investment-grade countries. It has over $900 million in capital to invest in new royalty and streaming deals.
Petrobras announced its 4th quarter 2010 results. Key highlights included record oil production in Brazil of 2,256 thousand barrels per day in December 2010. International production increased 3% compared to 2009. Several new production systems and gas treatment units started up in 2010. Proven reserves totaled nearly 16 billion barrels of oil equivalent according to ANP criteria, with over 1 billion added from the Santos pre-salt area. Investments in 2010 were R$76.4 billion, up 8% from 2009.
The document summarizes the company's financial results for the 1st quarter of 2009. It reported a 3% increase in domestic oil, NGL, and natural gas production compared to the 4th quarter of 2008 due to new production systems coming online. Operating income decreased compared to the previous quarter primarily due to lower oil prices and sales volumes, though cost reductions partially offset this. New discoveries were also announced in pre-salt areas that will help drive future growth.
An updated slide deck with lots of interesting charts and graphs outlining where Rice has been, and where they are heading with their Marcellus/Utica drilling program (and midstream program).
Petrobras announced its second quarter 2010 results. Net income increased 7% to R$8.3 billion. New oil discoveries in the Campos Basin pre-salt are estimated to contain 500 million barrels of recoverable oil. Production is increasing with the start-up of new production units such as the FPSO Capixaba in Espírito Santo. Planned investments total $224 billion through 2014 according to the new business plan. Oil and gas production increased year-over-year due to contributions from new projects.
Conference Call/Webcast
October 29th, 2012
» QUARTER HIGHLIGHTS
» Net Income of R$5,567 million and EBITDA of R$14,375 million
» Oil production in Brazil of 1,904 kboed (-3% vs. 2Q12) and natural gas of 377 kboed (+4% vs. 2Q12)
» Start up of FPSO Cidade de Anchieta in September 10th
» Current production: 42 kbpd with 3 wells
» Production peak (100 kbpd): March/2013
» Discoveries: Grana Padano (Espirito Santo), Pecém (Ceará), Barra and Moita Bonita (Sergipe Alagoas)
» Record refinery output (2,026 kbpd in 3Q12 vs. 1,886 kbpd in 3Q11)
» Start up of REPAR’s Coking unit
» 7th consecutive year in the Dow Jones Sustainability Index
This corporate presentation provides an overview of Great Panther Mining Limited, a primary silver producer with two mines in Mexico and exploration properties in Mexico and Peru. It summarizes Q2 2017 production results including 348,130 ounces of silver produced at the Guanajuato Mine Complex at a cash cost of $2.48 per ounce. It also provides an update on operations at the Topia Mine in Mexico and guidance for 2017 production and costs.
Marathon Oil Corporation reported net income of $193 million for Q2 2002, down from $593 million in Q2 2001. Earnings were lower primarily due to decreased natural gas prices and narrow differentials between sweet and sour crude oil prices. However, results improved over Q1 2002. Marathon strengthened its core asset positions through acquisitions in the Powder River Basin, Equatorial Guinea, and Norway during the quarter. Production averaged 424,000 barrels of oil equivalent per day, in line with guidance for full-year 2002.
- First Quantum Minerals is a global copper producer with high-quality, cash-generating mines and imminent new production from its Cobre Panama project.
- The company has executed a strategy to focus on margin improvement, sell non-core assets, limit cash outflow, and restructure its balance sheet to fund development of Cobre Panama.
- Cobre Panama is on track and ramping up, with the potential to produce over 300,000 tonnes of copper annually by 2020, which would place First Quantum among the top copper producers globally.
The document discusses PVA's transition from a natural gas producer to an oil and liquids producer through acquisitions in the Eagle Ford Shale. It has grown its oil and natural gas liquids production significantly and expanded its acreage position in the Eagle Ford. PVA's strategy is to continue developing the Eagle Ford, expanding its oil and liquids reserves and production, while retaining its substantial gas assets. This transition has shifted the value of PVA towards oil as oil and natural gas liquids prices have increased relative to natural gas prices.
The document provides an overview of Petrobras' 4th quarter and full year 2011 results, highlighting a 16.41 billion barrel increase in proven oil reserves, a 2% increase in total oil and gas production to 2.62 million barrels per day, and investments of R$73 billion in 2011, 47% of which went to exploration and production activities. Petrobras also discussed its exploration successes in 2011, production outlook for 2012, and progress made in developing pre-salt fields in the Campos and Santos basins.
- The document provides Management's Discussion and Analysis of Claude Resources Inc. for the third quarter of 2012, including production highlights from their Seabee Gold Operation and financial results.
- Production at the Seabee Gold Operation increased 33% compared to Q3 2011, totaling 15,073 ounces. Cash flow from operations before changes in working capital was $8.6 million for Q3 2012.
- Exploration continued during the quarter at the Seabee, Amisk, and Madsen properties, with a focus on expanding resources around the Seabee mine and testing targets at Madsen.
Marathon Oil Corporation reported financial results for the third quarter of 2005, with net income of $770 million compared to $222 million in the third quarter of 2004. Revenues increased to $17.2 billion from $12.3 billion. Exploration and production income increased due to higher oil and gas prices, though production was slightly below guidance due to Gulf of Mexico hurricanes. Refining and marketing income also increased due to strong performance despite hurricane impacts. The company continued major investments across all segments and production is recovering from the hurricanes.
Marathon Oil Corporation reported strong financial results for the second quarter of 2006, with net income of $1.748 billion compared to $673 million in the second quarter of 2005. Earnings were boosted by higher oil and gas prices and sales volumes. The company invested over $9 billion in projects over the past 18 months. Marathon completed the sale of its Russian business and continues to advance major projects globally. Upstream income increased due to higher commodity prices and volumes, particularly in Libya and Equatorial Guinea.
BOA/ML Global Metals, Mining & Steel Conferenceq4help
Goldcorp's presentation discusses the company's strategy of building on past successes to continue growth. It highlights key projects and mines such as Cerro Negro and Éléonore that are expected to be new drivers of growth. The presentation also emphasizes Goldcorp's commitment to financial discipline, cost control, and capital allocation to create long-term shareholder value.
Agnico-Eagle Mines Limited announced that its outstanding share purchase warrants will expire on November 14, 2007 at 5:00 pm Toronto time. The warrants were issued in 2002 and each one entitles the holder to purchase one common share of Agnico-Eagle for US$19. The company is a long-established Canadian gold producer with operations in Quebec and exploration activities in Canada, Finland, Mexico and the US.
The Board of Directors of Agnico-Eagle Mines Limited has 20 responsibilities including overseeing the strategic direction and risk management of the company, approving financial statements and material transactions, appointing executive management and developing corporate governance principles. The Board is also responsible for advising the CEO, appointing directors, and conducting annual assessments of the Board and committees.
Agnico-Eagle Mines Limited announced that its outstanding share purchase warrants will expire on November 14, 2007 at 5:00 pm Toronto time. The warrants were issued in 2002 and each one entitles the holder to purchase one common share of Agnico-Eagle for US$19. The company is a long-established Canadian gold producer with operations in Quebec and exploration activities in Canada, Finland, Mexico and the US.
Agnico-Eagle Mines Limited will release its third quarter 2007 results on October 24, 2007 after normal trading hours. The company's senior management will host a conference call on October 25, 2007 at 11:00AM EST to discuss the financial results and provide an exploration and development update. The webcast and presentation slides from the conference call will be available on Agnico-Eagle's website for 180 days.
Barrick Gold subsidiary Minera ABX Exploraciones S.A. signs deal with Paramount Gold to acquire a 51% interest in the Linda property in Peru. The Veladero gold mine project in Argentina, run by Barrick Gold, begins operations and is expected to produce between 50,000-55,000 ounces of gold annually. Inco and Falconbridge announce a $10.2 billion merger that will create the world's largest nickel producer, surpassing Russia's Norilsk Nickel.
Agnico-Eagle Mines Limited will release its third quarter 2007 results on October 24, 2007 after normal trading hours. The company's senior management will host a conference call on October 25, 2007 at 11:00AM EST to discuss the financial results and provide an exploration and development update. The webcast and presentation slides from the conference call will be available on Agnico-Eagle's website for 180 days.
Freeport-McMoRan Copper & Gold Inc. reported financial and production results for the first quarter of 2009. Net income was $43 million, down significantly from $1.1 billion in the first quarter of 2008. Copper production increased to 1.041 billion pounds compared to 880 million pounds last year, while gold production increased to 595 thousand ounces from 275 thousand ounces. Unit costs decreased to $1.07 per pound of copper from $1.47 per pound. For 2009, the company expects copper sales of 3.9 billion pounds, gold sales of 2.3 million ounces, and unit costs of approximately $0.70 per pound.
Agnico-Eagle Mines Limited provided a corporate update presentation in March 2010. The presentation discussed Agnico-Eagle's strategy of increasing gold production through internal expansions, growing gold reserves, acquiring early stage projects, maintaining low costs, and solid financial positioning. It also provided an operations update on improved performance in Q4 2009 at all mines, rising production and earnings, a strong financial position, and industry leading gold production growth estimates through potential internal expansions.
Vista gold announces updated mt todd preliminary feasibility study showing st...Chris Helweg
Vista Gold Announces Updated Mt Todd Preliminary Feasibility Study Showing Strong Returns At US$1300 Gold Price
Vista Gold Corp. ("Vista" or the "Company") (NYSE American and TSX: VGZ) today announced the positive results of an updated preliminary feasibility study (the "PFS") for its Mt Todd gold project ("Mt Todd" or the "Project") in Northern Territory, Australia. The PFS is based on the results of a comprehensive review of all aspects of the Project and the re-design of elements of the process flow sheet, incorporating automated sorting and grinding circuit design changes in a 50,000 tonne per day ("tpd") project. The process improvement efforts have resulted in reduced operating costs, increased gold recovery and higher gold production at Mt Todd. Management of Vista believes that the design changes have allowed Vista to achieve a significant improvement in the Project's economics at the current gold price. The PFS was authored by Tetra Tech Inc. with Mine Development Associates, Resource Development Inc., Proteus EPCM Engineers (a Tetra Tech Company), and POWER Engineers, Inc. Unless otherwise specified, all $ amounts in this press release are expressed in US$.
This document provides an annual review and financial results for Anglo American for 2008. Key points include:
- Anglo American achieved record operating profits from core operations despite a significant reduction in commodity prices in the second half of 2008.
- Safety performance showed continued improvement over 2007.
- Actions were taken to position the company for the downturn, including a over 50% reduction in capital expenditures for 2009 and cost reduction programs.
- Underlying earnings were $5.8 billion for 2008, down 9% from 2007, with an effective tax rate of 31.8% and return on capital employed of 36.8%.
Rio Tinto half year results presentation slides 2009Rio Tinto plc
- Rio Tinto reported lower earnings and EBITDA for the first half of 2009 compared to the same period in 2008, due to a sharp decline in commodity prices from their peak in early 2008.
- The company took decisive actions to improve its financial position, including successful rights issues raising $15.2 billion, divestments of $3.7 billion, and achieving $0.8 billion of its $2.5 billion operating cost savings target for 2009.
- While the global economic outlook remains uncertain, Rio Tinto expects demand from China to continue supporting commodity prices, having driven domestic activity and inventory rebuilding through policy responses to the downturn.
Lake Shore Gold provided an update on its second quarter 2013 performance. Key points included:
- Record quarterly gold production of 30,800 ounces and gold poured of 31,800 ounces.
- Improving cost performance with cash costs of $908/ounce and all-in sustaining costs of $1,257/ounce.
- Capital investment of $27.8 million during the quarter to expand the mill to 3,000 tonnes per day.
Marathon Oil Corporation reported its third-quarter 2004 results. Net income was $222 million compared to $281 million in the third quarter of 2003. Net income adjusted for special items was $296 million compared to $293 million in the prior year period. Earnings were impacted by higher crude oil and natural gas prices but offset by reduced production due to divestitures, declines and downtime from hurricanes. The company also made progress on key projects in Norway, Ireland and Equatorial Guinea and continues to work towards acquiring Ashland Inc.'s minority interest in Marathon Ashland Petroleum LLC.
Chevron reported a net income of $7.9 billion for Q3 2008, up from $3.7 billion in Q3 2007. Higher crude oil prices contributed to increased earnings of $6.2 billion in upstream operations. Downstream earnings also rose to $1.8 billion from $377 million due to improved refining margins. Total sales and revenues for Q3 2008 were $76 billion, up from $54 billion in the prior year.
Chevron reported fourth quarter net income of $4.9 billion, up slightly from $4.88 billion in the same period last year. Lower crude oil prices reduced earnings for upstream operations but benefited downstream results. For the full year, Chevron's net income was $23.93 billion, up 28% from 2007. Capital and exploratory expenditures for 2008 were $22.8 billion, with approximately 75% for upstream projects.
1) Chevron reported a net income of $4.9 billion for Q4 2008, up slightly from $4.88 billion in Q4 2007. Lower crude oil prices reduced upstream earnings but benefited downstream results.
2) Full year 2008 net income was $23.93 billion, up 28% from 2007, on sales of $265 billion compared to $214 billion in 2007.
3) Chairman Dave O'Reilly said the company achieved record earnings and cash flows in 2008 and is well positioned financially to handle economic challenges in 2009.
This document provides information on Silver Primary Producer, a silver mining company. It operates two 100% owned mines in Mexico that produce silver, gold, lead, and zinc. In Q1 2014, it produced over 370,000 ounces of silver. It has a strong balance sheet with no debt and $21.8 million in cash. The company aims to increase production through developing satellite operations and pursuing acquisition opportunities. It operates mines in historic Mexican silver districts and is exploring expansion opportunities at current projects.
This silver producer operates two mines in Mexico, producing silver, gold, lead, and zinc. It has a strong balance sheet with no debt and $21.8 million in cash. Key objectives for 2014 include producing between 3.1-3.2 million ounces of silver at a cash cost of $11-12 per ounce, reducing costs, ramping up production at the San Ignacio project, and pursuing acquisition opportunities in Latin America. The company sees opportunity for production growth through developing satellite deposits near current operations.
Cowen and Company 5th Annual Global Metals, Mining & Materials ConferenceRoyalGold
- Royal Gold owns royalties on several mining projects including Mt. Milligan, Peñasquito, Voisey's Bay, and Andacollo which provide near-term growth and long mine lives.
- The company has over $900 million available to invest in new royalty deals and focuses on high-quality assets from investment-grade companies with world-class long-lived reserves.
- Royal Gold's portfolio provides a solid foundation for future growth while trading at a discount to its historical valuation multiples.
Copper and nickel are there. So too is aluminium. Tin was there last month. And as for iron ore, well, it's already gone there and beyond. As industrial metal prices sink ever lower, the historical reference point becomes ever starker.
Marathon Oil Corporation reported financial results for the second quarter of 2004, with the following key highlights:
1) Net income increased 48% over the second quarter of 2003 to $352 million, driven by strong performance in the downstream segment and higher oil and gas prices.
2) Important milestones were reached in the integrated gas strategy, including reaching a final investment decision on an LNG project in Equatorial Guinea and delivering two LNG cargos under a long-term agreement.
3) Exploration success continued with two significant discoveries made during the quarter offshore Angola and Equatorial Guinea.
This document brings together a set of latest data points and publicly available information relevant for Resources Industry. We are very excited to share this content and believe that readers will benefit from this periodic publication immensely.
Nexen delivered solid first quarter results in 2009 despite low oil prices. Highlights include $557 million in cash flow, production of 252,000 boe/d which was 9% higher than the previous quarter, and exploration success in the UK North Sea. The Long Lake upgrader started production of Premium Synthetic Crude and reservoir performance is improving. Nexen's financial position remains strong with $3.3 billion in liquidity. Development continues on projects such as Long Lake, Ettrick, Longhorn and Usan, which are economic in the current price environment.
Goldman presentation nov 2014 final screenRoyalGold
This document summarizes Royal Gold's presentation at an annual mining conference. It highlights Royal Gold's solid portfolio and future growth opportunities. Specifically, it notes that near-term growth is being driven by the ramp-up of production at the Mt. Milligan mine. It also states that Royal Gold has over $900 million in uncommitted capital available to invest in new royalty and streaming deals. Finally, it indicates that Royal Gold currently trades at a discount to its historical price-to-book value ratio, representing long-term value.
Lake Shore Gold is approaching a major turning point in 2013 as it expands production capacity. The company owns three gold complexes in Timmins, Ontario with over 3 million ounces of gold in reserves and resources. Production is expected to increase over 60% from 2012 to 2014 to over 140,000 ounces annually as the company completes expansion of its central mill to 3,000 tons per day. Cash costs are projected to decrease to under $700 per ounce at full production levels. The company's key assets of the Timmins West and Bell Creek mines and mill provide a foundation for growth.
The AES Corporation reported financial results for the first quarter of 2008 with the following highlights:
- Earnings per share from continuing operations were up 100% to $0.34 compared to the first quarter of 2007, and adjusted earnings per share were up 63% to $0.39.
- Gross margin increased 23% to $1.0 billion compared to the first quarter of 2007, driven by higher prices and volumes across Latin America and Europe.
- Revenue increased 33% to $4.1 billion compared to the first quarter of 2007, reflecting higher prices and volumes as well as favorable foreign currency impacts.
Agnico-Eagle Mines Limited announced that its outstanding share purchase warrants will expire on November 14, 2007 at 5:00 pm Toronto time. The warrants were issued in 2002 and each one entitles the holder to purchase one common share of Agnico-Eagle for US$19. The company is a long-established Canadian gold producer with operations in Quebec and exploration activities in Canada, Finland, Mexico and the US.
The document provides an overview of a Q4 demo with sample titles but does not include any additional details about the content or purpose of the demo. The demo is labeled "Q4 Demo" and mentions "Today's Demo" and "Sample Title 1" and "Sample Title 2" but does not elaborate on what will be demonstrated.
This document outlines Barrick Gold Corporation's Supplier Code of Ethics policy which provides standards for supplier conduct. The policy defines suppliers, outlines compliance with laws and UN Global Compact principles, and addresses health and safety, ethics, compliance certification, and waivers. Suppliers must agree to the standards through an online process and certification is required every two years.
This document is an employee information form for Q4. It collects an employee's personal details like name, address, phone numbers, banking information, emergency contact, and date of birth. The employee confirms the accuracy of the provided information and signs and dates the form. HR then adds employment details like position, department, salary, benefits, and tax exemptions. The personal information will be kept private by Q4 and only disclosed as required by law.
Jini Byun has over 11 years of experience as a .NET developer specialized in C#, ASP.NET, XML, and Microsoft technologies. She has developed web applications and content management systems for various companies. Her skills include web development, database design, and software architecture. She is proficient in languages such as C#, VB.NET, ASP.NET, and XML technologies.
This 3 sentence summary provides the high level information from the document:
The document discusses a Q4 demo for today and includes a sample title. It appears to be documentation for a demo related to the fourth quarter of a year. The document does not contain much additional context or details beyond noting it is related to a Q4 demo.
This short document appears to be a test presentation consisting of three brief sentences stating that it is a test and for test purposes only. It does not provide much substantive information beyond indicating it is for testing.
Vrajlal's (Agencies) Limited is a Tanzania-based transport company providing bulk liquid and general cargo transport services across East and Central Africa. It operates a fleet of 30 trucks and trailers from its headquarters in Mwanza and branch office in Dar es Salaam. The company aims to expand its fleet and services to become the leading transport provider in the region through quality training and customer support. It is managed by a team of directors with extensive experience in transport and logistics.
Vrajlal's (Agencies) Limited is a transport company based in Mwanza, Tanzania that provides bulk liquid and general cargo transport services across East and Central Africa. It operates a fleet of 30 trucks and trailers, including 15 for general cargo and 15 tankers for petroleum products. The company aims to be a premier transport provider using state-of-the-art technologies. It is dedicated to building long-term customer relationships through quality training and support. Vrajlal's has extensive health, safety, environmental, and quality management plans and policies to ensure compliance with regulations and safe, sustainable operations.
The document provides an overview of a Q4 demo with two sample titles listed but no other details. The document title and introductory text indicate it is about a Q4 demo for today.
This 3 line document appears to be an agenda or schedule for a Q4 demo numbered 1. It will feature a product called "1Lite" and is labeled as occurring today.
1. FIRST QUARTER REPORT - MAY 6, 2008 For a full explanation of results, the Financial
Statements and Management Discussion & Analysis,
Based on US GAAP and expressed in US dollars full-year guidance at significant mines, and mine
statistics, please see the Company’s website,
www.barrick.com.
Net Income Rises 29% to $514 Million ($0.59 per share)
Expanded Margins Increase Profitability in Q1
Highlights
• The Company reported first quarter net income of $514 million ($0.59 per share) and operating cash flow of $728 million ($0.83 per
share) compared to a net loss of $159 million ($0.18 per share) and operating cash flow of $163 million ($0.19 per share) in the prior
year period. Reported net income rose 29% compared to prior year adjusted net income of $398 million ($0.46 per share)1 and
included $29 million of post-tax special items that reduced income by $0.03 per share. Adjusting for these special items, earnings of
$0.62 per share are a Company record. The realized gold price of $925 per ounce matched the average spot price for the quarter.
• First quarter gold production was 1.74 million ounces at total cash costs of $393 per ounce2, and copper production was 87 million
pounds at total cash costs of $0.94 per pound2. The Company maintains full year production guidance of 7.6 - 8.1 million ounces of
gold at total cash costs of $390 - $415 per ounce and 380 - 400 million pounds of copper at total cash costs of $1.15 - $1.25 per
pound.
• Significant progress continued to be made on Barrick’s extensive project pipeline, including: advanced construction of Buzwagi,
which is on schedule and within budget for start-up in mid-2009, and the submission of a feasibility study and project notice to the
Government of the Dominican Republic in February in order to proceed with the Pueblo Viejo project. At Cortez Hills in Nevada,
detailed engineering is essentially complete and the project remains on schedule and within the $480 - $500 million pre-production
capital budget. A final feasibility study has been completed on the Sedibelo platinum project in South Africa, entitling the Company
to a 10% interest and the right to earn an additional 40% on a decision to mine.
• During the quarter, the Company consolidated 100% ownership in the Cortez property with the purchase of the remaining 40%
interest. The Cortez operation is expected to become a million-ounce, low cost producer once Cortez Hills is commissioned, and is a
key, long life asset in Barrick’s portfolio.
Barrick Gold Corporation reported Q1 production of period. Net income rose 29% compared to prior
1.74 million ounces of gold at total cash costs of year adjusted net income of $398 million ($0.46
$393 per ounce compared to 2.03 million ounces per share) on higher cash margins for both gold
produced at total cash costs of $309 per ounce for and copper. Operating cash flow of $728 million
the prior year period. ($0.83 per share) compares to adjusted cash flow
First quarter net income of $514 million ($0.59 of $727 million ($0.84 per share) reported for the
per share) and operating cash flow of $728 million prior year period. Current period cash flow was
($0.83 per share) compare to a net loss of $159 adversely impacted by a build up of inventory
million ($0.18 per share) and operating cash flow of during the quarter. EBITDA of $984 million ($1.14
$163 million ($0.19 per share) in the prior year
1
Adjusted net income, adjusted net income per share, EBITDA, EBITDA per share, adjusted EBITDA and adjusted EBITDA per share are each
non-GAAP measures. For further information on these measures, see pages 24 - 25 of the Company’s MD&A.
2
Total cash costs per ounce/pound is defined as cost of sales divided by ounces of gold sold or pounds of copper sold. Total cash costs per
ounce/pound exclude amortization expense and inventory purchase accounting adjustments. For further information on this operating
performance measure see pages 26 - 28 of the Company’s MD&A.
BARRICK FIRST QUARTER 2008 PRESS RELEASE
2. per share) was 30% higher than prior year adjusted grade stockpiled ore continues at the Betze-Post
EBITDA of $757 million ($0.87 per share).1 pit, where grades were 36% below prior year levels.
Reported net income included $29 million of Goldstrike was also impacted by a SAG mill gear
post-tax special items that reduced earnings by failure and a fire associated with the north roaster
$0.03 per share. bucket elevator, which significantly reduced
“Our 25th anniversary this year comes at an capacity in February. Production and costs at
exciting time to be in the mining business,” said Goldstrike are expected to improve starting in the
Peter Munk, Chairman and Acting CEO of Barrick. second quarter of the year as equipment issues
“We have positioned ourselves to benefit from have been resolved and the roaster and autoclave
today’s strong metal prices and our efforts are now are running at full capacity, and as higher grade ore
being realized in expanding margins and strong from the pit becomes accessible in the latter part of
earnings and cash flow.” the quarter. The Cortez mine produced 83,000
ounces (reflects one month of 100% ownership) at
PRODUCTION AND COSTS total cash costs of $503 per ounce. Once Cortez
In Q1 2008, Barrick produced 1.74 million ounces of Hills enters production, annual production at Cortez
gold at total cash costs of $393 per ounce and a is expected to increase to about 1.0 million ounces
realized gold price of $925 per ounce. Q1 was annually in the first full five years at estimated
a lower production quarter as lower grades cash costs of $280 - $290 per ounce. A 15-month
and throughput were experienced at some construction period is anticipated to begin when
larger operations due to a combination of planned the Record of Decision, which is expected in the
mine sequencing and operational disruptions. second half of 2008, becomes effective.
Improved performance is anticipated at a number The Australia Pacific business unit produced
of mines that experienced disruptions and as 0.44 million ounces in Q1 at total cash costs of
higher grades are accessed at Goldstrike starting in $438 per ounce. The Porgera operation, the
the second quarter. region’s biggest contributor to production, had a
The Company maintains its full year production strong quarter, producing 0.14 million ounces.
guidance of 7.6 - 8.1 million ounces of gold at total Results benefited from increased ownership as well
cash costs of $390 - $415 per ounce. Assuming as higher grades and throughput. Access to higher
continuing cost pressures associated with higher grade ore at Cowal was restricted due to a slip on
than assumed gold and energy prices, cash costs the east wall, which is expected to limit production
for gold are expected to be in line with the higher to lower grade stockpiles until the fourth quarter.
end of the guidance range. Lower than expected grades were also experienced
The South American business unit produced at the Plutonic, Kalgoorlie and Kanowna mines.
0.54 million ounces of gold in Q1 at total cash costs Production from the African business unit was
of $193 per ounce. The Lagunas Norte mine 0.14 million ounces in Q1 at total cash costs of $508
continues to deliver excellent results, producing per ounce. The Bulyanhulu mine continued to
0.23 million ounces of gold at cash costs of $116 per experience effects of the illegal strike as reduced
ounce. Veladero production of 0.19 million ounces staffing levels impacted mine development and
at cash costs of $293 per ounce benefited from delayed access to higher grade ore, resulting in
access to higher grade areas of the Filo Federico lower grades and reduced mill throughput. The
and Amable pits following extensive waste stripping mine has nearly completed the re-staffing process
in 2007. and expects to return to normal operations starting
The North American business unit contributed in the second quarter. The North Mara mine also
0.61 million ounces in Q1 at total cash costs of $497 processed lower grade ore due to the loss of an
per ounce, including 0.30 million ounces from the excavator in January. A new excavator has been
Goldstrike complex at cash costs of $521 per ounce. commissioned and was fully operational at the
Planned waste stripping and processing of lower end of April.
BARRICK FIRST QUARTER 2008 2 PRESS RELEASE
3. Copper production of 87 million pounds was A feasibility study has been completed on the
lower than in the prior year period, primarily due to Sedibelo platinum project in South Africa, entitling
temporary lower leach recovery rates at Zaldívar the Company to a 10% interest and the right to
and grade sequencing at Osborne. Copper sales earn an additional 40% on a decision to mine. The
were 98 million pounds at total cash costs of $0.94 Company will determine a course of action on
per pound and a realized price of $3.54 per pound. Sedibelo in due course. The feasibility study shows
The Company maintains its 2008 operating attractive economics based on an assumed life-of-
guidance for copper of 380 - 400 million pounds at mine production of 4.76 million ounces of four
total cash costs of $1.15 - $1.25 per pound. elements or 4E (platinum, palladium, rhodium and
gold) and pre-production capital of about $700
PROJECTS UPDATE million. Annual production in the first full five years
The Buzwagi project in Tanzania is on schedule of a minimum 16 year mine life is estimated to be
and within its $400 million pre-production capital about 240,000 4E ounces (100% basis) at cash
budget, with about 75% of funds committed or costs of about $700 per 4E ounce. The feasibility
spent. All major foundations, including the crusher contemplates initial production from open pit
and mill foundations, are well advanced and the sources, followed by a ramp up of underground
leach tanks have been installed. All equipment has operations which is expected to increase average
been purchased and all significant construction annual production to over 290,000 4E ounces
contracts have been awarded. First gold is expected (100% basis) at cash costs of about $600 per 4E
to be poured in mid-2009. Buzwagi is expected to ounce over the first full 10 years. The current
produce 250,000 - 260,000 ounces per year at weighted average market price for the basket of
estimated total cash costs of $270 - $280 per metals at Sedibelo is about $2,100 per 4E ounce.
ounce in its first full five years of operation. Feasibility studies are on track for completion
A feasibility study and project notice were at the Fedorova PGM project in Russia in the
delivered to the government of the Dominican second half of 2008 and at the large Reko Diq
Republic in late February in order to proceed with gold-copper project on the highly prospective
the Pueblo Viejo project. Pre-production capital of Tethyan Belt in Pakistan in early 2009.
about $2.7 billion (100% basis) represents the At the Kabanga JV in Tanzania, operator
largest foreign investment in the country. Barrick’s Xstrata Plc expects to conclude a pre-feasibility
share of gold production in the first full five study in the third quarter of 2008.
years of production is expected to be about
600,000 ounces per year at total cash costs of EXPLORATION
about $250 per ounce. Our 2007 exploration spend of $179 million was
In Nevada, detailed engineering is essentially successful in replacing reserves and materially
complete at Cortez Hills, which remains on grew measured, indicated and inferred resources.
schedule and within the $480 - $500 million pre- Barrick’s 2008 exploration budget of $200 million
production capital budget. About 50% of funds is designed to build on recent discoveries and
have been committed or spent on the purchase of acquisitions such as the Monte Oculto zone at
the bulk of mobile equipment and on significant Pueblo Viejo and Kainantu in Papua New Guinea
underground development. During the quarter, $17 and is weighted towards resource additions and
million was spent on procurement of crusher and reserve conversion at and around mine sites, while
conveyor equipment and engineering for the also evaluating exploration opportunities in
project infrastructure. The exploration decline emerging districts around the world.
advanced an additional 544 meters and is about The Company’s top exploration focus remains
95% complete. Pre-production waste stripping is in Nevada, where 23 exploration drill rigs are active
expected to commence in late 2008 once a Record at Cortez, Bald Mountain, Goldstrike, Turquoise
of Decision is issued and becomes effective. Ridge, Arturo-Dee, and Pinson. Drift development
BARRICK FIRST QUARTER 2008 3 PRESS RELEASE
4. was completed at the High Grade Bullion Zone at At Zaldívar, a 40,000-meter initial drill
Turquoise Ridge and initial results from the program in 2007 tested the deep sulfide potential
underground drill program are confirming the beneath the open pit. Measured and indicated
potential of the zone. At Cortez Hills, in-fill and copper resources increased 20% to 0.9 billion
extension drill programs are underway and results pounds and inferred copper resources grew about
are expected throughout the year. 180% to 1.8 billion pounds in 2007. The Company is
Barrick’s exploration activities in Papua New spending about $6 million in 2008 on 35,000
Guinea (PNG) are focused on defining new meters of in-fill drilling in order to upgrade the
resources at Porgera and on our extensive deep sulfide resource.
Kainantu land package, where drilling is expected
to commence on the Kora target early in Q2. Target CORPORATE DEVELOPMENT
delineation and drill testing programs are also During the quarter, the Company purchased the
planned for the Wamun, Tabar and Tatau projects remaining 40% interest in Cortez for cash of
in the second quarter. $1.695 billion, giving Barrick 100% ownership of
During the quarter, the Company entered into a this key, long life asset. Barrick has been entitled to
JV agreement with Allied Gold on a 200 square the production and economic benefit of 100% of
kilometer land package on the Big Tabar and Tatau the property from March 1, 2008.
Islands in PNG, located between the producing Lihir The acquisition will increase Barrick's share of
and Simberi mines. Barrick can earn up to a 70% proven and probable reserves by 4.6 million
interest by spending $18 million on exploration and ounces to 11.5 million ounces and measured and
has budgeted $2.1 million in year 1 for 5,000 meters indicated mineral resources by 1.4 million ounces
of diamond drilling, geophysical surveys and a to 3.5 million ounces.
geochemical and mapping program.
At Pueblo Viejo, drill programs are in progress CORPORATE SOCIAL RESPONSIBILITY
to test previously identified targets near the Barrick remains committed to a global strategy to
current pit areas and the Monte Oculto discovery. help build sustainable, healthy communities.
At Reko Diq in Pakistan, resource definition, In 2007, the Company injected over $6 billion
condemnation and exploration drilling are ongoing, into the economies of host countries and local
with about 40,000 meters of a planned 210,000 communities, including $4.1 billion in goods and
meters drilled in 2008 and 8 drill rigs on site. A services from local businesses, $1.5 billion in
total of 114,000 meters have been drilled to date royalties and taxes and voluntary payments and
and results continue to demonstrate the project’s $1.0 billion in wages and benefits. These figures
district exploration potential. At year-end 2007, represent the Company’s ongoing commitment
Barrick’s share of measured and indicated gold to share the benefits of mining and build stronger
resources totaled 3.7 million ounces and its share and more prosperous communities wherever
of measured and indicated copper resources were we operate.
4.3 billion pounds. Inferred gold resources grew 6.1
million ounces to 10.5 million ounces and inferred INNOVATION
copper resources increased by 9.1 billion pounds to Scientists worldwide responded to Barrick's Unlock
13.4 billion pounds.34 the Value program, which offers $10 million for a
way to increase silver recovery at the Veladero
3
Calculated in accordance with National Instrument 43-101 as required by mine in Argentina from the current 6.7% level.
Canadian securities regulatory authorities. For United States reporting purposes,
Industry Guide 7 (under the Securities Exchange Act of 1934), as interpreted by Launched in September 2007, the program is
the Staff of the SEC, applies different standards in order to classify mineralization an innovative approach to research and
as a reserve. Accordingly, for U.S. reporting purposes, Pueblo Viejo is classified as
mineralized material. For a breakdown of reserves and resources by category and development through the internet. The deadline for
additional information relating to reserves and resources, see Barrick’s most
recent Annual Information Form/Form 40-F on file with Canadian provincial
preliminary submissions closed April 30. Barrick
securities regulatory authorities and the U.S. Securities and Exchange received a total of 187 proposals, far exceeding
Commission.
BARRICK FIRST QUARTER 2008 4 PRESS RELEASE
5. expectations. The program website FINANCIAL POSITION
www.unlockthevalue.com drew 65,000 visitors. In At March 31, 2008, Barrick maintained the gold
addition, a total of 2,018 scientists registered as industry’s strongest credit rating, with a cash
participants on the website to network with Barrick, balance of $1.9 billion and net debt of $2.2 billion
providing a platform for future research and after drawing from its credit facility to complete
innovation. Over the next several months, the the Cortez cash transaction. This strong liquidity,
preliminary proposals will be assessed by an expert combined with the robust cash flows being
panel on various criteria, including technical generated at current gold and copper prices,
viability and ability to be safely implemented at positions the Company well to continue building out
Veladero. Participants will be notified if their its deep project pipeline without the need for
proposals have been selected for phase two of the equity dilution.
program, and those selected will be asked to submit
a detailed proposal. *****
Barrick’s vision is to be the world’s best gold
company by finding, acquiring, developing and
producing quality reserves in a safe, profitable
and socially responsible manner. Barrick’s shares
are traded on the Toronto and New York
stock exchanges.
BARRICK FIRST QUARTER 2008 5 PRESS RELEASE
6. Key Statistics
Barrick Gold Corporation Three months ended
(in United States dollars) March 31,
(Unaudited) 2008 2007
Operating Results
Gold production (thousands of ounces)1 1,743 2,029
Gold sold (thousands of ounces)1 1,729 2,121
Per ounce data
Average spot gold price $ 925 $ 650
Average realized gold price5,6 925 386
Total cash costs2 393 309
Amortization3 108 94
Total production costs 501 403
Copper production (millions of pounds) 87 100
Copper sold (millions of pounds) 98 91
Per pound data
Average spot copper price $ 3.52 $ 2.69
Average realized copper price5,6 3.54 2.77
Total cash costs2 0.94 0.80
Amortization3 0.36 0.42
Total production costs 1.30 1.22
Financial Results (millions)
Sales $ 1,958 $ 1,089
Net income (loss) 514 (159)
Operating cash flow 728 163
Per Share Data (dollars)
Net income (loss) (basic) 0.59 (0.18)
Net income (diluted) 0.58 (0.18)
Operating cash flow (basic) 0.83 0.19
Operating cash flow (diluted) 0.82 0.19
Weighted average basic common shares (millions) 872 865
Weighted average diluted common shares (millions)4 885 877
As at As at
March 31, December 31,
2008 2007
Financial Position (millions)
Cash and equivalents $ 1,931 $ 2,207
Non-cash working capital 965 1,029
Long-term debt 4,137 3,153
Shareholders' equity 15,711 15,256
1
Production includes equity gold ounces in Highland Gold. Gold production also includes an additional 20% share of production from the Porgera mine and 40%
share of production from the Cortez mine, from April 1, 2007 and March 1, 2008 onwards, respectively.
2
Represents equity cost of goods sold plus royalties and production taxes, less by-product revenues, divided by equity ounces of gold sold or pounds of copper sold.
For further information on this performance measure, refer to pages 26-28 of the Company's MD&A. Excludes amortization, accretion and inventory purchase
accounting adjustments.
3
Represents equity amortization expense and inventory purchase accounting adjustments at the Company's producing mines divided by equity ounces of gold sold or
pounds of copper sold.
4
Fully diluted, includes dilutive effect of stock options and convertible debt.
5
Calculated as consolidated gold sales divided by consolidated ounces sold or consolidated copper sales divided by consolidated pounds sold.
6
Realized prices represents gold and copper revenues under US GAAP, adjusted for unrealized gains and losses on non-hedge derivatives. For further information on
this performance measure, refer to pages 25-26 of the Company's MD&A.
BARRICK FIRST QUARTER 2008 6 SUMMARY INFORMATION
7. Production and Cost Summary
Gold Production Total Cash Costs
(attributable ounces) (US$/oz)
Three months ended Three months ended
March 31, March 31,
(Unaudited) 2008 2007 2008 2007
1
North America 614 786 $ 497 $ 347
South America 541 569 193 141
Australia Pacific 435 490 438 421
Africa 144 178 508 327
Other 9 6 410 316
Total 1,743 2,029 $ 393 $ 309
Copper Production Total Cash Costs
(attributable pounds) (US$/lb)
Three months ended Three months ended
March 31, March 31,
(Unaudited) 2008 2007 2008 2007
South America 73 80 $ 0.76 $ 0.65
Australia Pacific 14 20 1.56 1.48
Total 87 100 $ 0.94 $ 0.80
Total Gold Production Costs (US$/oz)
Three months ended
March 31,
(Unaudited) 2008 2007
Direct mining costs at market foreign exchange rates $ 410 $ 316
Gains realized on currency and commodity hedge contracts (29) (16)
By-product credits (20) (14)
Cash operating costs 361 286
Royalties 28 19
Production taxes 5 4
Total cash costs2 393 309
Amortization 108 94
Total production costs $ 501 $ 403
Total Copper Production Costs (US$/lb)
Three months ended
March 31,
(Unaudited) 2008 2007
Cash operating costs $ 0.92 $ 0.79
Royalties 0.02 0.01
Total cash costs2 0.94 0.80
Amortization 0.36 0.33
Inventory purchase accounting adjustments - 0.09
Total production costs $ 1.30 $ 1.22
1
Barrick's share of Cortez' production and total cash costs increased to 100% effective March 1, 2008.
2
Total cash costs per ounce/pound excludes amortization, accretion and inventory purchase accounting adjustments. Total cash costs per ounce/pound is a
performance measure that is used throughout this First Quarter Report 2008. For more information see pages 26 to 28 of the Company's MD&A.
BARRICK FIRST QUARTER 2008 7 SUMMARY INFORMATION
8. Consolidated Statements of Income
Barrick Gold Corporation Three months ended
(in millions of United States dollars, except per share data) (Unaudited) March 31,
2008 2007
Sales (notes 4 and 5) $ 1,958 $ 1,089
Costs and expenses
Cost of sales (notes 4 and 6)1 775 740
Amortization and accretion (notes 4 and 14) 241 220
Corporate administration 33 33
Exploration (note 9) 43 30
Project development expense (note 9) 46 37
Other expense (note 7A) 54 38
Impairment charges (note 7B) 41 -
1,233 1,098
Interest income 17 39
Interest expense (note 15B) (6) (36)
Other income (note 7C) 32 18
43 21
Income before income taxes and other items 768 12
Income tax expense (note 8) (253) (147)
Non-controlling interests (3) (3)
Income (loss) from equity investees (note 12) 2 (21)
Net income (loss) for the period $ 514 $ (159)
Earnings (loss) per share data (note 10):
Net income (loss)
Basic $ 0.59 $ (0.18)
Diluted $ 0.58 $ (0.18)
1
Exclusive of amortization (note 4).
The accompanying notes are an integral part of these unaudited interim consolidated financial statements.
BARRICK FIRST QUARTER 2008 8 FINANCIAL STATEMENTS
9. Consolidated Statements of Cash Flow
Barrick Gold Corporation Three months ended
(in millions of United States dollars) (Unaudited) March 31,
2008 2007
OPERATING ACTIVITIES
Net income (loss) for the period $ 514 $ (159)
Amortization and accretion (notes 4 and 14) 241 220
Income tax expense (note 8) 253 147
Income taxes paid (127) (129)
Impairment charges (note 7B) 41 -
Increase in inventory (note 13) (133) (20)
Other items (note 11) (61) 104
Net cash provided by operating activities 728 163
INVESTING ACTIVITIES
Property, plant and equipment
Capital expenditures (note 4) (265) (248)
Sales proceeds 4 6
Acquisitions, net of cash acquired of $21 (note 3) (1,722) -
Available-for-sale securities
Purchases (15) (4)
Sales proceeds 2 3
Long-term supply contract (note 12) (35) -
Other investing activities (35) (27)
Net cash used in investing activities (2,066) (270)
FINANCING ACTIVITIES
Capital stock
Proceeds on exercise of stock options 70 31
Debt
Proceeds 990 -
Repayments (5) (9)
Net cash provided by financing activities 1,055 22
Effect of exchange rate changes on cash and equivalents 7 1
Net decrease in cash and equivalents (276) (84)
Cash and equivalents at beginning of period 2,207 3,043
Cash and equivalents at end of period $ 1,931 $ 2,959
The accompanying notes are an integral part of these unaudited interim consolidated financial statements.
BARRICK FIRST QUARTER 2008 9 FINANCIAL STATEMENTS
10. Consolidated Balance Sheets
Barrick Gold Corporation As at March 31, As at December 31,
(in millions of United States dollars) (Unaudited) 2008 2007
ASSETS
Current assets
Cash and equivalents $ 1,931 $ 2,207
Accounts receivable 291 256
Inventories (note 13) 1,246 1,129
Other current assets 774 707
4,242 4,299
Non-current assets
Investments (note 12) 123 142
Equity method investments (note 12) 1,147 1,074
Property, plant and equipment (note 14) 10,339 8,596
Goodwill 5,865 5,847
Intangible assets 75 68
Other assets 2,102 1,925
Total assets $ 23,893 $ 21,951
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Accounts payable $ 874 $ 808
Short term debt (note 15) 234 233
Other current liabilities 472 255
1,580 1,296
Non-current liabilities
Long-term debt (note 15) 4,137 3,153
Asset retirement obligations 932 892
Deferred income tax liabilities 858 841
Other liabilities 582 431
Total liabilities 8,089 6,613
Non-controlling interests 93 82
Shareholders’ equity
Capital stock (note 17) 13,348 13,273
Retained earnings 2,346 1,832
Accumulated other comprehensive income (note 18) 17 151
Total shareholders’ equity 15,711 15,256
Contingencies and commitments (notes 14 and 20)
Total liabilities and shareholders’ equity $ 23,893 $ 21,951
The accompanying notes are an integral part of these unaudited interim consolidated financial statements.
BARRICK FIRST QUARTER 2008 10 FINANCIAL STATEMENTS
11. Consolidated Statements of Shareholders' Equity
Barrick Gold Corporation
For the three months ended March 31 (in millions of United States dollars) (Unaudited)
2008 2007
Common shares (number in millions)
At January 1 870 864
Issued on exercise of stock options 2 1
At March 31 872 865
Common shares (dollars in millions)
At January 1 $ 13,273 $ 13,106
Issued on exercise of stock options 70 31
Recognition of stock option expense 5 5
At March 31 $ 13,348 $ 13,142
Retained earnings
At January 1 $ 1,832 $ 974
Net income (loss) 514 (159)
At March 31 $ 2,346 $ 815
Accumulated other comprehensive income (note 18) $ 17 $ 126
Total shareholders' equity at March 31 $ 15,711 $ 14,083
Consolidated Statements of Comprehensive Income
Barrick Gold Corporation Three months ended
(in millions of United States dollars) (Unaudited) March 31,
2008 2007
Net income (loss) $ 514 $ (159)
Other comprehensive income (loss) net of tax (note 18) (134) 7
Comprehensive income (loss) $ 380 $ (152)
The accompanying notes are an integral part of these unaudited interim consolidated financial statements.
BARRICK FIRST QUARTER 2008 11 FINANCIAL STATEMENTS
12. CORPORATE OFFICE TRANSFER AGENTS AND REGISTRARS
Barrick Gold Corporation CIBC Mellon Trust Company
Brookfield Place, TD Canada Trust Tower P.O. Box 7010, Adelaide Street Postal Station
Suite 3700 Toronto, Ontario M5C 2W9
161 Bay Street, P.O. Box 212 Tel: (416) 643-5500
Toronto, Canada M5J 2S1 Toll-free throughout North America: 1-800-387-0825
Tel: (416) 861-9911 Fax: (416) 861-0727 Fax: (416) 643-5501
Toll-free within Canada and United States: 1-800-720-7415 Email: inquiries@cibcmellon.com
Email: investor@barrick.com Website: www.cibcmellon.com
Website: www.barrick.com
BNY MELLON SHAREOWNER SERVICES
SHARES LISTED 480 Washington Blvd. – 27th Floor
ABX - The Toronto Stock Exchange Jersey City, NJ 07310
The New York Stock Exchange Tel: 1-800-589-9836 Fax: (201) 680-4665
Email: shrrelations@mellon.com
Website: www.melloninvestor.com
INVESTOR CONTACT MEDIA CONTACT
Deni Nicoski Vincent Borg
Vice President, Investor Relations Senior Vice President, Corporate Communications
Tel: (416) 307-7410 Tel: (416) 307-7477
Email: dnicoski@barrick.com Email: vborg@barrick.com
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain information contained in this First Quarter Report 2008, including any information as to our strategy, plans or
future financial or operating performance and other statements that express management's expectations or estimates of
future performance, constitute "forward-looking statements”. All statements, other than statements of historical fact, are
forward-looking statements. The words “believe”, "expect", "will", “anticipate”, “contemplate”, “target”, “plan”, “continue’,
“budget”, “may”, “intend”, “estimate” and similar expressions identify forward-looking statements. Forward-looking
statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by
management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. The
Company cautions the reader that such forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause the actual financial results, performance or achievements of Barrick to be materially different
from the Company's estimated future results, performance or achievements expressed or implied by those forward-looking
statements and the forward-looking statements are not guarantees of future performance. These risks, uncertainties and
other factors include, but are not limited to: changes in the worldwide price of gold, copper or certain other commodities
(such as silver, fuel and electricity); fluctuations in currency markets; changes in U.S. dollar interest rates or gold lease
rates; risks arising from holding derivative instruments; ability to successfully complete announced transactions and
integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries
on business; operating or technical difficulties in connection with mining or development activities; employee relations;
availability and increasing costs associated with mining inputs and labor; the speculative nature of exploration and
development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of
reserves; adverse changes in our credit rating, level of indebtedness and liquidity, contests over title to properties,
particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business.
These factors are discussed in greater detail in the Company’s most recent Form 40-F/Annual Information Form on file with
the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities.
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a
result of new information, future events or otherwise, except as required by applicable law.