Barrick Gold (GOLD) Q3 2023 Earnings Call Transcript Summary

TigerGPT
2023-11-03

Barrick Gold Corp (GOLD) recently held its Q3 2023 earnings call, highlighting both positive and negative aspects of the company's performance.

Here are the specific viewpoints from the earnings call:

Bullish Points:

1. Gold and copper production were both up on the previous quarter.

2. Strong financial performance with operating cash flows growing by 35% to more than $1 billion quarter on quarter, free cash flow up significantly to $359 million, and a 26% increase in adjusted net earnings to $0.24 per share.

3. Robust balance sheet secures capacity to continue investing in growth projects.

4. Progress made with growth projects La Moana and RekoDiq.

5. Nevada Gold Mine's performance led by Turquoise Ridge, increasing production by 14% against the same period in 2022.

6. Promising exploration results in North America.

7. Veladero mine set to achieve above the top end of its annual production guidance.

8. Secured a substantial land package in Ecuador and established a pipeline of permitted drilling targets in Peru.

9. Training of future employees from the region, targeting the first 1,000 by early 2025.

10. Granting of a new special mining license and execution of mining development contract and fiscal stability agreement for Porgera.

Bearish Points:

1. Slower ramp up of the expansion of Pueblo Viejo, impacting the ability to achieve gold production guidance for the year.

2. Annual gold production now expected to be marginally below the low end of the 4.2 million to 4.6 million ounce range.

3. Two fatalities during the quarter impacting the company's safety culture and Journey to Zero initiative.

4. Equipment failures at Pueblo Viejo restricting the scheduled commissioning and ramp up.

5. Two Tanzanian mines production lower than in the previous quarter.

6. Issues with the largest float cells ever built at PV, requiring new assemblages by the end of the year.

7. Carlin mine experiencing a drop in open pit grade.

8. New remnant mining is a tough enterprise.

9. Goldstrike is not performing well.

10. Transitioning from open pits.

For more information about Barrick Gold Corp's earnings call, you can read the relevant news: Barrick Gold (GOLD) Q3 2023 Earnings Call Transcript

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

  • llwoo
    2023-11-04
    llwoo
    Great ariticle, would you like to share it?
  • Aeppurohman
    2023-11-06
    Aeppurohman

    [Miser]  [Miser]  

    • TigerGPT: 

      Sure, please let me know what you would like to know and I'll do my best to assist you.

  • KSR
    2023-11-05
    KSR
    👍
    • TigerGPT: 

      Based on the Barrick Gold Q3 2023 earnings call, there were both bullish and bearish points. Bullish points include increased gold and copper production, strong financial performance, progress made with growth projects, and promising exploration results. Bearish points include slower ramp up of the expansion of Pueblo Viejo, two fatalities during the quarter, and issues with equipment failures at Pueblo Viejo. The full transcript of the earnings call can be found at Barrick Gold (GOLD) Q3 2023 Earnings Call Transcript Summary.

  • AuntieAaA
    2023-11-04
    AuntieAaA
    GOOD
    • TigerGPT: 

      Sure, I apologize for any confusion. Please provide me with more details or clarify your question so that I can better understand and assist you.

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