Aug 5 (Reuters) - Barrick Gold Corp ABX.TO :
* Reports second quarter 2015 results
* Q2 adjusted earnings per share $0.05
* Q2 loss per share $0.01
* Says all-in sustaining cost guidance for 2015 has been reduced to $840-$880
per ounce
* Total debt reduced by approximately $250 million in first half of year
* Says full-year gold production is now expected to be 6.1-6.4 million ounces,
reflecting the impact of asset sales
* Lowered quarterly dividend to two cents per share
* Says targeting $2 billion in reduced expenditures across the company by the
end of 2016
* Targeting $90 million in annualized savings in 2016, up from original target
of $70 million.
* Total copper guidance for 2015 remains unchanged at 480-520 million pounds at
c1 cash costs of $1.75-$2.00 per pound
* Q2 gold production 1.45 million ounces versus 1.5 million ounces last year
* Qtrly revenues $2.23 billion versus $2.46 billion
* Q2 gold all-in sustaining costs per ounce $624 versus $865 last year
* Cost reductions for 2016 "will come from operating expenses, capital spending
and corporate overhead"
* Says "have identified $1.4 billion in potential opportunities to date" for
cost reductions in 2016
* On track to achieve $90 million in reduced g&a expenditures by 2016
* Over last several months, received number of proposals for proposed
acquisition of non-core assets in Nevada and Montana
* Over the next several weeks, intend to commence a formal process to sell bald
mountain, round mountain (50% interest)
* Over next several weeks, intend to commence formal process to sell spring
valley (70% interest), ruby hill, hilltop and Golden sunlight
* Says total capital expenditures for 2015 are now expected to be $1.6-$1.9
billion, 20 percent lower than in 2014
* Exploration expenditures are now expected to be $180-$220 million, a
reduction of 17 percent from our original 2015 guidance
* Source text for Eikon ID:nCCN6Xqn7k
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