TheStreet.com RealMoney

Barrick Gold Maintains Its Luster

By Tom Au

 About this article:
 For Au's preview heading into the Barrick Gold conference call, please click here. Barrick Gold's adjusted earnings of 49 cents a share beat the analysts consensus by over 10 cents a share. Besides the operational issues discussed below, Barrick benefitted from hedging operations that yielded copper realizations of $3.18 a pound, nearly 50% above spot prices, and gold at $931 an ounce, just above spot. With regard to new projects, the Buzwagi mine in Tanzania opened on time in the second quarter. Development of the Cortez Hills mine in Nevada is on track for opening early in 2010, and for producing 1 million ounces a year. Pre-stripping excavation has started, most of the other infrastructure is almost in place, and overall construction is 60% complete. In the Dominican Republic, the import of equipment is beginning for a 2011 startup of the Pueblo Viejo mine, and trade credits are...

You have just read the beginning of a premium article from our RealMoney Service. To read the rest of this article and sign up for a FREE trial please click below.

ACCESS STORY & START A FREE 14-Day Trial
Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET.
Outside the U.S. and in Canada, call 1-212-321-5200.



Already a RealMoney subscriber? LOG IN.
Username: Page data is submitted securely.
Password:
Forgot your Password? Click here


100% Money-Back Guarantee
If you decide to subscribe and you're not completely satisfied with TheStreet.com RealMoney, just call us within the first 30 days of your subscription and we'll refund your full annual subscription price — guaranteed.




If you choose a 14-day free trial of RealMoney and you do NOT call to cancel within those 14 days, you will pay $129.95 — a $100 savings off the regular annual subscription price of $229.95. Unless you cancel before the end of that year, your subscription will automatically renew for another year at the then-current subscription price.

Offer applies only to new annual subscriptions, and is subject to change at any time. Void where prohibited.

If you choose a monthly subscription, you pay $34.95 per month. You will be notified if the current monthly rate of $34.95 changes at any time in the future.

TheStreet.com is a publisher. None of the contributors or their affiliates will provide you with personally tailored advice concerning the nature, potential, value or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. From time to time, any or all of the contributors or their affiliates may hold positions in securities mentioned and they may trade for their own accounts. In cases where the position is held at the time of publication, appropriate disclosure is made.

© TheStreet.com, Inc., 14 Wall Street, 15th Floor, New York, NY 10005.