Russia » Economics

Barric Gold Lowers Profit Outlook - 27 September, 2002

Lower gold production and higher costs made Barrick Gold Corp on Thursday to lower its 2002 and third-quarter earnings forecasts.

The company revised its 2002 projections to 33 cents to 35 cents share, before adjustments, compared with earlier guidance for earnings at the lower end of 42 cents to 47 cents.

The company said gold production is on target for 5.7 million ounces, while cash costs are expected to average $178 per ounce, compared with $172 per ounce previously estimated.

The Company expects third-quarter earnings to be in the range of five cents to six cents, before rising to the 10 to 11 cent-range in the fourth quarter.

Cash costs are expected to average approximately $180 per ounce in the third quarter. Despite the higher costs, the company expects to generate $370 million in free cash flow this year.

Comments
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Just Words on Scraps of Paper
Just Words on Scraps of Paper
SWIFT refuses to cut Russia off, even if Washington insists
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Russia introduces new money for the first time in eight years
Russians massively break traffic rules on Crimea Bridge
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
The Royal Wedding and the Silly Season
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Kremlin on failed nuclear missile tests: 'Listen to President Putin and believe him!'
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Science Has Once Again Declared: ‘We Were Created’
Russian air defences ready to shoot down NATO drones and reconnaissance aircraft over Crimea
Iran's next moves on nuclear deal much more important - Kremlin
Venezuela may expect another Panama scenario from 1989
Venezuela may expect another Panama scenario from 1989
Venezuela may expect another Panama scenario from 1989
Venezuela may expect another Panama scenario from 1989
Venezuela may expect another Panama scenario from 1989
Iran's next moves on nuclear deal much more important - Kremlin