Barrick Gold - GOLD STOCK NEWS

Barrick Gold Corporation (NYSE:GOLD) announced a proposed capital return of approximately $0.42 per share, set for discussion at the Annual Meeting on May 4, 2021. This distribution arises from proceeds of prior divestitures, totaling around $750 million, to be paid in three tranches in May, August, and November 2021. Additionally, a $0.09 dividend for Q4 2020 has been declared, payable on March 15, 2021. The company emphasizes its commitment to returning surplus funds to shareholders, with dividends having tripled since the Randgold merger.

Barrick Gold Corporation (NYSE:GOLD) has announced the sale of its 100% interest in the Lagunas Norte mine in Peru to Boroo Pte Ltd for a total value of up to $81 million. This includes an upfront payment of $20 million and additional payments contingent on gold prices. Boroo will also assume $226 million in closure liabilities. The transaction aligns with Barrick's strategy of divesting non-core assets, having previously realized $1.5 billion from similar actions. The deal is subject to closing conditions, and Barrick will maintain a presence in Peru for exploration efforts.

Barrick Gold's Loulo-Gounkoto mine in Mali produced 680,215 ounces of gold in 2020, surpassing its full-year guidance despite Covid-19 challenges. Safety performance improved significantly, with a 50% reduction in Lost Time Injury Frequency Rate and achieving a Lost Time Injury Free year underground. Major technological advancements include a 20MW solar power plant and ongoing exploration activities increasing gold reserves. The complex contributed $7.7 billion to Mali’s economy over 24 years, highlighting its significant economic impact.

Barrick Gold's Tongon mine in Côte d’Ivoire produced 284,863 ounces of gold in 2020, meeting its guidance. The mine achieved a record plant throughput of 95.2% and implemented cost-reduction measures. Despite challenges, including a mill fire and socio-political instability, Tongon paid a $150 million dividend to shareholders and contributed $1.2 million to Covid-19 efforts. The mine boasts the best safety record in Barrick's group and has invested $105 million locally, significantly impacting the Ivorian economy since its inception.

Barrick Gold reports strong operational performance at the North Mara and Bulyanhulu gold mines for 2020, achieving a combined output of 462,472 ounces. Under Barrick's management, North Mara has improved its production profile, while Bulyanhulu resumed underground ore processing. The company invested $800 million in Tanzania's economy, employing over 600 new workers at Bulyanhulu. Barrick aims to position these mines as Tier One assets by optimizing costs and has established community development initiatives to enhance local relations.

Barrick Gold Corporation (NYSE:GOLD) reported preliminary results for 2020, achieving gold production of 4.8 million ounces, within the guidance range of 4.6-5.0 million ounces. Copper production reached 457 million pounds, also within guidance. Q4 results featured 1.19 million ounces of gold sales and average gold prices at $1,874 per ounce. Costs for Q4 are expected to remain consistent, with gold all-in sustaining costs projected to be 3-5% lower than Q3 2020. Detailed results will be provided on February 18, 2021.

Barrick Gold Corporation announced the upcoming release of its Q4 and full year 2020 results on February 18, 2021. The preliminary production, sales, and cost information will be available on January 14, 2021. A virtual presentation led by President and CEO Mark Bristow will occur on the results release day at 11:00 EST. Investors can participate in an interactive webinar and a conference call linked to the presentation. The webinar materials will be accessible on Barrick’s website for later viewing.

Barrick Gold has completed the sale of its interest in Morila Gold Limited to Firefinch Limited for $28.8 million. This transaction allows Firefinch to access additional resources, potentially extending the mine's life, which was previously set for closure in 2021. Barrick aims to focus on Tier One mines capable of producing over 500,000 ounces of gold annually. The Morila mine has produced 6.9 million ounces of gold since 2000 and contributed over $2.5 billion to stakeholders.