Papua New Guinea

Barrick Set for Strong Finish to the Year

Retrieved on: 
Thursday, October 12, 2023
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TORONTO, Oct. 12, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) today reported preliminary Q3 sales of 1.03 million ounces of gold and 101 million pounds of copper, as well as preliminary Q3 production of 1.04 million ounces of gold and 112 million pounds of copper. Q3 production was higher than Q2, although lower than previous plans for the quarter, especially at Pueblo Viejo where equipment design deficiencies contributed to the delayed ramp up of the expansion project. We continue to expect a significant increase in fourth quarter production volume.

Key Points: 
  • Porgera has been on temporary care and maintenance since April 2020 and is not currently included in our full year 2023 guidance.
  • On February 3, 2022, the Framework Agreement was replaced by the more detailed Porgera Project Commencement Agreement (the “Commencement Agreement”).
  • Barrick will provide a full reconciliation of these non-GAAP financial measures when the Company reports its quarterly results on November 2, 2023.
  • Barrick also cautions that its 2023 guidance may be impacted by the ongoing business and social disruption caused by the spread of Covid-19.

Safety, Stability and Upside in Uncertain Times

Retrieved on: 
Tuesday, October 10, 2023
NYSE, Acquisition, Newcrest Mining, AEM, Gold, LOI, Safety, Bearpaw Formation, Treasury, Copper, Mining, Securities commission, Gemstone, Trade Data Monitor, Agnico Eagle, Favoritism, GIA, Uncertainty, NEM, Zinc, OTCQX, Health, Fed, Yukon Gold, ESG, Eye, Snow, Lead, Democratic republic, Jewellery, Editorial, FNV, Maull, Congo, Barrick, Investment, Papua New Guinea, OTC, U.S. News & World Report, News, Silver, History, Love, Growth, GOLD, Cryptocurrency, Security (finance), Newmont, Lumwana

NEW YORK, Oct. 10, 2023 /PRNewswire/ -- In volatile economic conditions, smart money seeks stability and moves to safe havens. Historically, one of the safest places and most stable spaces during economic uncertainty is gold, a highly liquid asset that preserves and even increases in value over time and carries no credit risk. The precious metal benefits from multiple levers of demand such as gold jewelry, tech/industrial use and a reserve asset as well as a strategic investment. History has shown that gold's variable demand pressures enhance a portfolio by improving diversification, providing liquidity and delivering long-term returns. Reacting to uncertainties, many gold mining companies, including GEMXX Corp. (OTCPK: GEMZ) (profile), have enjoyed significant growth during the recent volatility. Exploding past startup phase and achieving global growth in mere months, GEMXX is fast approaching a holy grail that differentiates GEMXX from all others in the gold space – a vertically integrated mining company – a unique mine-to-market enterprise that specializes in gold and gemstone mining as well as jewelry creation, production and global sales. GEMXX owns and controls every aspect of the process from gold mining and gemstone finishing to jewelry manufacturing and global distribution. Other larger mining companies may not have the unique vertical integration of GEMXX but are still seeing success in the precious metal sector including Agnico Eagle Mines Ltd. (NYSE: AEM), which recently reported record second-quarter numbers; Barrick Gold (NYSE: GOLD), which anticipates a second half of the year performance that surpasses its first; Newmont Mining (NYSE: NEM), which has received required approvals on a key acquisition announced earlier this year; and Franco-Nevada Corp. (NYSE: FNV), which has established a business model that provides investors with gold price and exploration optionality while limiting exposure to cost inflation.

Key Points: 
  • NEW YORK, Oct. 10, 2023 /PRNewswire/ -- In volatile economic conditions, smart money seeks stability and moves to safe havens.
  • Reacting to uncertainties, many gold mining companies, including GEMXX Corp. (OTCPK: GEMZ) ( profile ), have enjoyed significant growth during the recent volatility.
  • GEMXX owns and controls every aspect of the process from gold mining and gemstone finishing to jewelry manufacturing and global distribution.
  • GEMXX stands out as a leading producer of high-quality finished ammolite jewelry and is the only publicly traded ammolite company in the world.

Safety, Stability and Upside in Uncertain Times

Retrieved on: 
Tuesday, October 10, 2023
NYSE, Acquisition, Newcrest Mining, AEM, Gold, LOI, Safety, Bearpaw Formation, Treasury, Copper, Mining, Securities commission, Gemstone, Trade Data Monitor, Agnico Eagle, Favoritism, GIA, Uncertainty, NEM, Zinc, OTCQX, Health, Fed, Yukon Gold, ESG, Eye, Snow, Lead, Democratic republic, Jewellery, Editorial, FNV, Maull, Congo, Barrick, Investment, Papua New Guinea, OTC, U.S. News & World Report, News, Silver, History, Love, Growth, GOLD, Cryptocurrency, Security (finance), Newmont, Lumwana

NEW YORK, Oct. 10, 2023 /PRNewswire/ -- In volatile economic conditions, smart money seeks stability and moves to safe havens. Historically, one of the safest places and most stable spaces during economic uncertainty is gold, a highly liquid asset that preserves and even increases in value over time and carries no credit risk. The precious metal benefits from multiple levers of demand such as gold jewelry, tech/industrial use and a reserve asset as well as a strategic investment. History has shown that gold's variable demand pressures enhance a portfolio by improving diversification, providing liquidity and delivering long-term returns. Reacting to uncertainties, many gold mining companies, including GEMXX Corp. (OTCPK: GEMZ) (profile), have enjoyed significant growth during the recent volatility. Exploding past startup phase and achieving global growth in mere months, GEMXX is fast approaching a holy grail that differentiates GEMXX from all others in the gold space – a vertically integrated mining company – a unique mine-to-market enterprise that specializes in gold and gemstone mining as well as jewelry creation, production and global sales. GEMXX owns and controls every aspect of the process from gold mining and gemstone finishing to jewelry manufacturing and global distribution. Other larger mining companies may not have the unique vertical integration of GEMXX but are still seeing success in the precious metal sector including Agnico Eagle Mines Ltd. (NYSE: AEM), which recently reported record second-quarter numbers; Barrick Gold (NYSE: GOLD), which anticipates a second half of the year performance that surpasses its first; Newmont Mining (NYSE: NEM), which has received required approvals on a key acquisition announced earlier this year; and Franco-Nevada Corp. (NYSE: FNV), which has established a business model that provides investors with gold price and exploration optionality while limiting exposure to cost inflation.

Key Points: 
  • NEW YORK, Oct. 10, 2023 /PRNewswire/ -- In volatile economic conditions, smart money seeks stability and moves to safe havens.
  • Reacting to uncertainties, many gold mining companies, including GEMXX Corp. (OTCPK: GEMZ) ( profile ), have enjoyed significant growth during the recent volatility.
  • GEMXX owns and controls every aspect of the process from gold mining and gemstone finishing to jewelry manufacturing and global distribution.
  • GEMXX stands out as a leading producer of high-quality finished ammolite jewelry and is the only publicly traded ammolite company in the world.

Barrick On Track to Achieve 2023 Targets

Retrieved on: 
Thursday, April 13, 2023
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TORONTO, April 13, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) today reported preliminary Q1 sales of 0.95 million ounces of gold and 89 million pounds of copper, as well as preliminary Q1 production of 0.95 million ounces of gold and 88 million pounds of copper. As previously guided, Barrick’s gold production in 2023 is expected to increase through the year with the first quarter being the lowest, while copper production is expected to be higher in the second half of the year. We remain on track to achieve our full year gold and copper guidance1.

Key Points: 
  • Porgera has been on temporary care and maintenance since April 2020 and is not currently included in our full year 2023 guidance.
  • Barrick will provide a full reconciliation of these non-GAAP financial measures when the Company reports its quarterly results on May 3, 2023.
  • Barrick will provide additional discussion and analysis and other important information about its first quarter production levels, sales and associated costs when it reports actual results on May 3, 2023.
  • Barrick also cautions that its 2023 guidance may be impacted by the ongoing business and social disruption caused by the spread of Covid-19.

K92 Mining Announces Strong 2022 Q4 and Annual Financial Results – Record Cash Balance, Revenue, Ore Mined and Ore Processed; Cash Cost and AISC Better Than Guidance

Retrieved on: 
Thursday, March 30, 2023
Confederation, Mining, Maintenance, Bank statement, COVID-19, Silver, Tax, Record, KNT, Local-level governments of Papua New Guinea, Papua New Guinea, Government, Gold, Soil, Blue Lake, SEDAR, TSX, Depreciation, Growth, Copper, Safety, AISC, Iron ore, Printed circuit board, Video game, Bookkeeping, Road, Marble, Uranium mining, Cryptocurrency, Q2, Dapsone

Record monthly ore processed achieved in November, averaging 1,382 tpd, above the Stage 2A Expansion run-rate of 1,370 tpd.

Key Points: 
  • Record monthly ore processed achieved in November, averaging 1,382 tpd, above the Stage 2A Expansion run-rate of 1,370 tpd.
  • Record total material mined (ore plus waste) of 287,446 tonnes mined during the quarter, an increase of 28% from Q4 2021.
  • Cash costs of US$538/oz gold and AISC of US$864/oz gold, beating the guidance range for cash cost of $560 to $640/oz gold, and AISC of $890 to $970/oz gold (2).
  • Record ore mined of 448,079 tonnes and total material mined (ore plus waste) of 994,175 during the year, increases of 40% and 25% from 2021, respectively.

Barrick Reports Stronger Q4 Gold Production

Retrieved on: 
Tuesday, January 17, 2023
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TORONTO, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) today reported preliminary full year and fourth quarter 2022 production results. On the back of stronger Q4 production, 13% higher than the previous quarter, preliminary gold production for the full year of 4.14 million ounces was approximately 1% lower than the 4.2 million ounces1 previously guided, while preliminary copper production of 440 million pounds for 2022 was in line with the guidance range of 420 to 470 million pounds.

Key Points: 
  • Total cash costs start with our cost of sales related to gold production and removes depreciation, the non-controlling interest of cost of sales and includes by-product credits.
  • C1 cash costs per pound excludes royalties and production taxes and non-routine charges as they are not direct production costs.
  • All-in sustaining costs per pound is similar to the gold all-in sustaining costs metric and management uses this to better evaluate the costs of copper production.
  • Finally, Barrick cautions that this press release contains forward-looking statements with respect to: (i) Barrick’s production; and (ii) costs per ounce for gold and per pound for copper.

Stronger Q2 for Barrick Underpins Delivery of 2022 Production Guidance

Retrieved on: 
Thursday, July 14, 2022
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TORONTO, July 14, 2022 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) today reported preliminary Q2 sales of 1.04 million ounces of gold and 113 million pounds of copper, as well as preliminary Q2 production of 1.04 million ounces of gold and 120 million pounds of copper. As previously guided, Barrick’s gold production in 2022 is expected to increase through the year, and with the stronger Q2 performance, it remains on track to achieve 2022 gold and copper guidance1.

Key Points: 
  • Porgera has been on temporary care and maintenance since April 2020 and is not currently included in our full year 2022 guidance.
  • Barrick will provide a full reconciliation of this non-GAAP financial measure when the Company reports its quarterly results on August 8, 2022.
  • C1 cash costs per pound excludes royalties and production taxes and non-routine charges as they are not direct production costs.
  • Barrick also cautions that its 2022 guidance may be impacted by the unprecedented business and social disruption caused by the spread of Covid-19.

Q1 Production Sets Barrick On Track to Achieve 2022 Targets

Retrieved on: 
Thursday, April 14, 2022
Framework agreement, Loss, Local-level governments of Papua New Guinea, Silver, Papua New Guinea, Gold, Engineering, Terrorism, Review, Electricity, Mining, Forward-looking statement, Investment, IFRS, Framework, National Instrument 43-101, Health, Water, Resource management, COVID-19, World Gold Council, Corruption, Mineral, Intention, Government, Insurance, Company, Partnership, News, Climate change, FGS, Economics, Natural gas, Accident, MD, Nationalization, Ownership, Failure, Nevada Gold Mines, SEC, National instrument, Income, Industry, Perception, Public expenditure, Weather, Depreciation, Copper, Maintenance, Epidemic, Chemistry (relationship), Pandemic, Risk, WGC, Real estate, Security (finance), Veladero, Kibali Gold Mine

TORONTO, April 14, 2022 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX)(‘Barrick’ or the ‘Company’) today reported preliminary Q1 sales of 1.0 million ounces of gold and 113 million pounds of copper, as well as preliminary Q1 production of 1.0 million ounces of gold and 101 million pounds of copper. As previously guided, Barrick’s gold production in 2022 is expected to be the lowest in the first quarter increasing through the year, while copper production is expected to be higher in the second half of the year. We remain on track to achieve our full year gold and copper guidance1.

Key Points: 
  • On February 3, 2022, the Framework Agreement was replaced by the more detailed Porgera Project Commencement Agreement (the Commencement Agreement).
  • C1 cash costs per pound excludes royalties and production taxes and non-routine charges as they are not direct production costs.
  • Barrick will provide a full reconciliation of these non-GAAP financial measures when the Company reports its quarterly results on May4, 2022.
  • Barrick will provide additional discussion and analysis and other important information about its first quarter production levels, sales and associated costs when it reports actual results on May4, 2022.

Waka Raises $725K to Disrupt the Instant Coffee and Tea Categories

Retrieved on: 
Wednesday, February 16, 2022
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LOS ANGELES, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Waka Coffee & Tea , the emerging instant coffee and tea company, closed a $725,000 pre-seed round from industry veterans and strategic investors to further accelerate its growth and innovation in the multibillion-dollar categories.

Key Points: 
  • LOS ANGELES, Feb. 16, 2022 (GLOBE NEWSWIRE) -- Waka Coffee & Tea , the emerging instant coffee and tea company, closed a $725,000 pre-seed round from industry veterans and strategic investors to further accelerate its growth and innovation in the multibillion-dollar categories.
  • Founded in late 2018 by entrepreneur David Kovalevski, Waka is on a mission to revive the instant coffee and tea categories through higher quality products, more eco-friendly packaging, and delicious flavors.
  • The company bootstrapped its way to become one of the most recognized newcomers in the instant coffee and instant tea categories and one of the categories' best sellers on Amazon.
  • "Preferences are shifting as new and younger demographics try instant coffee and tea products for the first time due to viral social media trends like whipped coffee and loaded teas, both of which use either instant coffee or instant tea.

Barrick Delivers on Production Targets for the Third Consecutive Year

Retrieved on: 
Wednesday, January 19, 2022
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TORONTO, Jan. 19, 2022 (GLOBE NEWSWIRE) -- Barrick Gold Corporation (NYSE:GOLD)(TSX:ABX) (“Barrick” or the “Company”) today announced preliminary full year and fourth quarter 2021 production results, which demonstrate that despite the ongoing challenges posed by the Covid-19 pandemic, it has met its annual guidance targets for the third consecutive year. Preliminary gold production for the full year of 4.44 million ounces was within the 4.4 to 4.7 million ounce guidance1 range, with both the Africa & Middle East and Latin America & Asia Pacific regions finishing the year at the higher end of their regional gold guidance range. Preliminary copper production of 415 million pounds for 2021 was also within the guidance range of 410 to 460 million pounds.

Key Points: 
  • Porgera was placed on temporary care and maintenance in April 2020 and was not included in our full year 2021 guidance.
  • Total cash costs start with our cost of sales related to gold production and removes depreciation, the non-controlling interest of cost of sales and includes by-product credits.
  • C1 cash costs per pound excludes royalties and production taxes and non-routine charges as they are not direct production costs.
  • Barrick will provide a full reconciliation of these non-GAAP financial measures when the Company reports its quarterly results on February16, 2022.