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Barrick Gold Corp. (TSX:ABX,NYSE:ABX) released its results for Q4 2014, as well as for the full year, noting that it recorded a net loss of $2.85 billion, or $2.45 per share, for the quarter.
Barrick Gold Corp. (TSX:ABX,NYSE:ABX) released its results for Q4 2014, as well as for the full year, noting that it recorded a net loss of $2.85 billion, or $2.45 per share, for the quarter. The loss reflects the impact of a $2.8-billion impairment charge.
As quoted in the press release:
Fourth quarter adjusted net earnings were $174 million($0.15 per share) and operating cash flow was $371 million.
For the full year 2014, Barrick recorded a net loss of $2.91 billion ($2.50 per share), reflecting the impact of $3.4 billion in after-tax impairment charges. Adjusted net earnings for 2014 were $793 million ($0.68 per share) and operating cash flow was $2.30 billion.
Future plans include:
- Production guidance for 2015 is 6.2-6.6 million ounces of gold at all-in sustaining costs of $860-$895 per ounce. The company expects to generate positive free cash flow this year at current gold prices.
- Annual gold production from our current portfolio is expected to exceed six million ounces in 2016 and 2017, with all-in sustaining costs lower than this year by 2017.
- This year Barrick will complete four prefeasibility studies, advancing growth projects near existing mines in Nevada.
Click here to read the full Barrick Gold Corp. (TSX:ABX,NYSE:ABX) press release.