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BRIEF-Barrick Reports Third Quarter 2018 Results

Published 2018-10-24, 05:13 p/m
© Reuters.  BRIEF-Barrick Reports Third Quarter 2018 Results
GOLD
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Oct 24 (Reuters) - Barrick Gold Corp ABX.TO :

* BARRICK REPORTS THIRD QUARTER 2018 RESULTS

* Q3 ADJUSTED EARNINGS PER SHARE $0.08

* Q3 LOSS PER SHARE $0.35

* Q3 REVENUE $1.84 BILLION

* Q3 EARNINGS PER SHARE VIEW $0.05 -- THOMSON REUTERS I/B/E/S

* REMAINS ON TRACK TO MEET ITS FULL-YEAR GOLD AND COPPER PRODUCTION GUIDANCE

* GOLD PRODUCTION IN Q3 WAS 1.15 MILLION OUNCES, AT AISC OF $785 PER OUNCE

* BARRICK GOLD - FULL-YEAR GOLD PRODUCTION AND COST GUIDANCE REMAINS UNCHANGED

* CORPORATE ADMINISTRATION COST GUIDANCE FOR 2018 HAS BEEN REDUCED FROM ROUGHLY $275 MILLION TO APPROXIMATELY $235 MILLION

* BARRICK - SPECIAL MEETING OF BARRICK SHAREHOLDERS WILL BE HELD ON NOV 5 TO APPROVE ISSUANCE OF CO'S SHARES IN CONNECTION WITH RANDGOLD MERGER

* TOTAL DEBT IS NOW $5.7 BILLION, AND DEBT LESS CASH (NET DEBT) IS $4.0 BILLION.

* COPPER PRODUCTION IN Q3 WAS 106 MILLION POUNDS AT ALL-IN SUSTAINING COSTS OF $2.71 PER POUND

* BARRICK GOLD - CONTINUE TO EXPECT FULL-YEAR COPPER PRODUCTION IN RANGE OF 345-410 MILLION POUNDS AT ALL-IN SUSTAINING COSTS OF $2.55-$2.85 PER POUND

* FURTHER DEBT REDUCTION WILL DEPEND ON CASH FLOWS, AND WILL BE EVALUATED AGAINST ALTERNATIVE USES OF CASH

* QTRLY RESULTS INCLUDE $431 MILLION IN NET IMPAIRMENT CHARGES PRIMARILY RELATED TO ASSET IMPAIRMENT OF LAGUNAS NORTE

* QTRLY RESULTS INCLUDE $62 MILLION IN FOREIGN CURRENCY TRANSLATION LOSSES PRIMARILY RELATED TO SIGNIFICANT WEAKENING OF ARGENTINE PESO

* QTRLY RESULTS INCLUDE $68 MILLION IN OTHER EXPENSE ADJUSTMENTS

* BARRICK ON ACACIA MINING'S OPERATIONS IN TANZANIA SAYS CONTINUES TO BELIEVE THAT A NEGOTIATED RESOLUTION IS IN BEST INTEREST OF ALL PARTIES

* ENGAGING IN DISCUSSIONS WITH ARGENTINA FEDERAL GOVERNMENT TO CLARIFY IMPACT OF EXPORT DUTY ON VELADERO'S OPERATIONS

* BARRICK - RE-ESTABLISHMENT OF CUSTOMS DUTIES IN ARGENTINE WILL NOT HAVE A SIGNIFICANT ADVERSE EFFECT ON LONG-TERM FAIR VALUE OF MINE

* QTRLY NET LOSS PRIMARILY REFLECTS A $405 MILLION IMPAIRMENT CHARGE AT LAGUNAS NORTE MINE IN PERU

* SEES 2018 TOTAL ATTRIBUTABLE CAPITAL EXPENDITURES $1,400 MILLION - $1,600 MILLION

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