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Barrick Gold (TSX,NYSE:ABX) has reported Q3 results for 2018, with gold production having increased to 1.15 million ounces during the quarter.
Barrick Gold (TSX,NYSE:ABX) has reported Q3 results for 2018, with gold production having increased to 1.15 million ounces during the quarter.
Highlights are as follows:
Barrick reported a net loss of $412 million ($0.35 per share), and adjusted net earnings of $89 million ($0.08 per share) for the third quarter.
The company reported third quarter revenues of $1.84 billion, net cash provided by operating activities (operating cash flow) of $706 million, and free cash flow of $319 million.
Gold production in the third quarter was 1.15 million ounces, at a cost of sales applicable to gold of $850 per ounce, all-in sustaining costs of $785 per ounce, and cash costs of $587 per ounce.
Copper production was 106 million pounds, at a cost of sales applicable to copper of $2.18 per pound, all-in sustaining costs of $2.71 per pound, and C1 cash costs of $1.94 per pound.
Full-year gold production and cost guidance remains unchanged at 4.5-5.0 million ounces, at a cost of sales of $810-$850 per ounce, all-in sustaining costs of $765-$815 per ounce, and cash costs of $540-$575 per ounce. We expect gold production to be approximately 1.25 million ounces in the fourth quarter.
We continue to expect full-year copper production in the range of 345-410 million pounds, at a cost of sales of $2.00-$2.30 per pound, all-in sustaining costs of $2.55-$2.85 per pound, and C1 cash costs of $1.80-$2.00 per pound.
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