Barrick Gold Corporation
Barrick Gold Corporation
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Strong final quarter performance at its 60%-owned Pueblo Viejo mine in the Dominican Republic, ramp-up of mining operations at its 84%-owned Bulyanhulu in Tanzania and continuing improvement at its 61.5%-owned Turquoise Ridge mine in the USA have helped Barrick Gold meet its FY2020 production targets.
Barrick announced preliminary full year output figures of 4.8Moz gold, down from 5.5Moz in FY2019 but within its 4.6-5Moz guidance range, and 457Mlb copper, exceeding the previous year’s 432Mlb and meeting its 440-500Mlb forecast.
Western Australia-based Firefinch has exceeded guidance with 4,228oz of gold produced in Dec 2020 from processing tailings at the Morila gold openpit mine in SW Mali, taking its total to 7,683oz since the company acquired 80% of the mothballed mine from Barrick Gold and AngloGold Ashanti for $US29M on Nov 11, 2020.
The previous prediction was 4,000oz-4,100oz. Firefinch has also reaffirmed a production target of 10,000oz-10,500oz for the Mar 2021 qtr (Q1 21).
Australia-based Firefinch, formerly Mali Lithium, has poured 1st gold at its 80%-owned Morila Gold Mine in SW Mali under the company’s ownership, and is expected to notch up an above estimate 4,000oz-4,100oz in the month of November at all-in-costs of about $US1,000oz-$1,100oz.
Morila, acquired from Barrick Gold and AngloGold Ashanti for $29M in Nov 2020, has measured-indicated-inferred resources of 1.49Moz within 39.3Mt @ 1.17g/t), with excellent potential to increase that.
New 80% owner Firefinch has lifted total measured, indicated and inferred gold resources to 1.49Moz (39.3Mt @ 1.17g/t) as its consulting mining engineers begin mine design and scheduling for the rejuvenation of the Morila project in SW Mali, acquired from Barrick Gold and AngloGold Ashanti for $US29M in Nov 2020.
Endeavour Mining has launched a mutually agreed, all-share takeover bid for fellow Canada-based gold miner Teranga Gold that will make the new entity the largest gold producer in the 3 West African countries of Senegal, Côte d’Ivoire and Burkina Faso, with Endeavour shareholders holding 66% and Teranga 34%.
Acquisitive Endeavour Mining has followed up its recent $691M takeover of SEMAFO with a friendly bid for Teranga Gold
Endeavour Mining is in merger talks with smaller Burkina Faso, West Africa, focused miner Teranga Gold, Reuters reports.
A realized gold price up to $US1,926oz from $1,725oz and gold sales to 1.25Moz from 1.22Moz has more than doubled the world’s 2nd largest gold miner Barrick Gold’s Sept 2020 qtr (Q3 20) net earnings to $882M from Q2 20’s $357M, with adjusted net earnings up to $726M from $415M.
Despite no production from the big Porgera mine in PNG, Barrick has lifted Q3 20 net earnings to $882M from Q2 20’s $357M
The world’s 2nd largest gold miner Barrick Gold has lifted Sept 2020 qtr (Q3 20) preliminary gold sales to 1.25Moz from Q2 20’s 1.22Moz on production up to 1.16Moz from 1.15Moz, but with copper sales sliding to 116Mlbs from 123Mlbs on output down to 103Mlbs from 120Mlbs.