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Gold/Mining/Energy : Barrick Gold (ABX)
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To: Enigma who wrote (2241)3/31/2002 3:22:24 PM
From: Tommaso   of 3558
 
Can anyone explain to me what the difference ifs between "ounces" and "equity ounces" in reporting gold production for a year in a gold company's annual report?

EDIT: I see--it's the company's share from a joint project.

If you take the total expenses of NEM for a year and divide that by the total output, you get a figire of $305 per ounce for gold. So it appears that as of about a year ago the breake-even point for Newmont was about $305 per ounce.

Barrick was harder to figure because they had some huge extraordinary item that I did not understand.

But it does appear that around $300 per ounce is what gold miners need to make money.

Anyone want to challenge or correct this?
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