Barrick Gold - GOLD STOCK NEWS

Barrick Gold (NYSE:GOLD) has announced a new share repurchase program of up to $1.0 billion of its outstanding common shares over the next 12 months at prevailing market prices. This new program replaces the previous February 2024 program, under which the company repurchased $498 million in common shares.

The repurchases can be made through various methods, including open market purchases on the New York Stock Exchange. The company states that its shares sometimes trade at prices that may not adequately reflect their underlying value. The timing and amount of purchases will be determined based on factors including financial performance, cash flow availability, and other capital allocation priorities such as investments, shareholder returns, and debt reduction.

The program is not obligatory and can be suspended or discontinued at the company's discretion.

Barrick Gold (NYSE:GOLD) has announced a Q4 2024 dividend of $0.10 per share, aligned with its Performance Dividend Policy. The dividend will be paid on March 17, 2025, to shareholders of record as of February 28, 2025.

The company has also reported significant share repurchases under its buyback program announced in February 2024, acquiring 28.675 million shares throughout the year, with 21 million shares purchased in Q4 2024 alone. According to CFO Graham Shuttleworth, the company's strong performance has enabled substantial shareholder returns while maintaining one of the industry's strongest balance sheets, ensuring adequate liquidity for growth projects.

Barrick Gold (NYSE:GOLD) has reported significant growth in its mineral reserves for 2024. The company's attributable proven and probable gold mineral reserves increased by 17.4 million ounces (23%) to 89 million ounces at 0.99g/t. This growth was primarily driven by the Reko Diq copper-gold project, which added 13 million ounces of gold.

The company's copper mineral reserves grew by 224% year-on-year, reaching 18 million tonnes at 0.45%. This substantial increase resulted from the completion of feasibility studies at Lumwana and Reko Diq, both confirmed as Tier One Copper projects. The Lumwana Super Pit Expansion added 5.5 million tonnes of copper reserves, while Reko Diq contributed 7.3 million tonnes.

Since 2019, Barrick has successfully replaced more than 180% of depleted gold reserves, adding almost 46 million ounces of attributable proven and probable reserves at approximately $10 per ounce.

Barrick Gold 's Kibali gold mine achieved its highest yearly throughput since commissioning in Q4 2024, despite facing challenges that required leadership changes. The mine is advancing several key initiatives, including:

Construction of a 16MW solar plant expected to complete by June 2025, which will reduce CO2 emissions from 45kt to 24kt annually and increase renewable energy mix from 81% to 85%. The mine maintained ISO 45001 and ISO 14001 certifications and reduced fresh water extraction from 15% to 11%.

Kibali has contributed $5.7 billion to the Congolese economy, including $3 billion spent with local suppliers. The mine completed 41 of 44 planned community development projects through its 0.3% revenue fund, investing $4.4 million in 2024. Exploration continues in highly prospective areas within the Kibali permit to support the mine's reserve pipeline.

Barrick Gold (NYSE:GOLD) has demonstrated significant economic impact in Zambia through its Lumwana Mine operations. The company contributed $3.7 billion since 2019, with $887 million in 2024 alone through various economic channels. The mine achieved its copper production guidance in 2024, with 72% of its $906 million procurement spend going to Zambian suppliers.

A major expansion project is underway at Lumwana, which will double copper production to 240kt annually and create 2,500 construction jobs through 2028, plus 550 permanent positions. The project includes developing Manyama town with new housing, an industrial supplier park, and an airport expected to be operational by 2025.

Currently maintaining 99% Zambian national employment, Barrick is expanding its training facilities and implementing a Business Accelerator Programme targeting 150 SMEs. The company is also addressing power challenges through co-generation initiatives and collaborating with ZESCO to upgrade the northwestern power corridor.

Barrick Gold (NYSE:GOLD) has contributed significantly to Tanzania's economy through its Twiga joint venture, injecting over $4.24 billion since 2019, including $888 million in 2024 alone. The partnership, comprising North Mara and Bulyanhulu gold mines, achieved notable milestones in local economic development and community support.

Key achievements include $573 million spent on national suppliers (83% of total in-country spend), with 75% going to indigenous companies. The company maintains a 96% national workforce of 6,185 employees, with 53% from neighboring communities. Community investments totaled $5 million in 2024, reaching $15.8 million since 2019.

Both mines exceeded production guidance of 500,000 ounces in 2024, maintaining Tier One status, and achieved a full year without Lost-Time Injury. The Barrick Academy, launched in 2024, has trained 1,700 individuals, targeting 2,800 by 2025. The company expanded its exploration footprint by over 2,000km² in the Nzega District.

Barrick Gold (NYSE:GOLD)(TSX:ABX) has announced the upcoming release of its Q4 2024 results on Wednesday, February 12, 2025. The company will host a comprehensive presentation of the results, featuring President and CEO Mark Bristow, at 11:00 EST.

The event will include an interactive webinar connected to a conference call, allowing participants to engage in a Q&A session. The results will be released at 6:00 EST, with the presentation following at 11:00 EST. The webinar will be archived for later viewing, and a conference call replay will be available through dedicated toll-free and international numbers.

All presentation materials will be accessible on Barrick's website at www.barrick.com.

Barrick Gold (NYSE:GOLD) has announced that its gold shipping restrictions at the Loulo-Gounkoto mining complex in Mali continue to be in effect. The situation has escalated as the Malian government has executed an interim attachment order, transferring existing gold stock from the site to a custodial bank, further preventing gold shipment and sales.

In response to these developments, Barrick has been forced to temporarily suspend operations at the complex. The company states it remains committed to engaging constructively with the Malian government and stakeholders to find an amicable solution that would ensure the long-term sustainability of the mining complex and its contributions to Mali's economy and communities.

Barrick Gold (NYSE:GOLD)(TSX:ABX) has received notice of an unsolicited mini-tender offer from TRC Capital Investment to purchase up to 5,000,000 of Barrick's common shares at C$21.35 per share, which is approximately 0.29% of Barrick's outstanding shares.

Barrick does not endorse this unsolicited offer and recommends shareholders do not tender their shares to TRC Capital's offer, as it is below market price. The offer price represents a discount of approximately 4.52% and 4.38% to the closing prices on the Toronto Stock Exchange and New York Stock Exchange, respectively, on January 7, 2025.

TRC Capital has made similar unsolicited mini-tender offers for other companies. Mini-tender offers avoid investor protections required by Canadian and U.S. securities laws. The Canadian Securities Administrators (CSA) and the U.S. Securities and Exchange Commission (SEC) advise caution with such offers. The SEC has issued tips for investors regarding mini-tender offers, which can be found on their website. The CSA's guidance on mini-tenders is available on the Ontario Securities Commission website.

Barrick shareholders are urged to obtain current market quotations, consult with their broker or financial advisor, and exercise caution. Shareholders who have already tendered their shares can withdraw them before 11:59 p.m. (Toronto time) on February 6, 2025, by following the procedures in TRC Capital's offer documents.