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Barrick's Production Miss Not So Bad?
Barrick Gold Corp. (ABX:TSX; GOLD:NYSE) maintained its full-year guidance after first-quarter production in both gold and copper, which came in lower than expected. Part of the lower production was because of planned maintenance at the Nevada Gold Mines, but other causes were unexpected, including lower grades at Lumwana. The lower production, with copper output in particular weak, about 15% lower than the consensus estimates, meant higher per-unit costs. Barrick estimated that its costs for gold at about $1,473 per ounce (for All-In Sustaining Costs) would come in about 8% higher than the previous quarter, while ... (full story)