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Gold/Mining/Energy : Barrick Gold (ABX) -- Ignore unavailable to you. Want to Upgrade?

To: Zardoz who wrote (595)	4/22/1998 10:49:00 AM
From: Zardoz	Respond to of 3558

Barrick Gold Corp - Globe says senior gold producer's profit up 36% in quarter Barrick Gold Corp ABX Shares issued 373029871 1998-04-21 close $32.4 Wednesday Apr 22 1998 The Globe and Mail reports in its Wednesday, April 22, edition that Barrick Gold has reported a profit for the first quarter of 1998 of US$75 million, compared with $55 million during the same period a year ago. Globe staff write that Barrick's revenue was $305 million, compared with $306 million a year earlier. Barrick said the 36 per cent profit increase is a result of lower production costs. The shares of Barrick rose C$1.75 yesterday to $32.40 as the price of gold rose US$3.30 an ounce to $311.20. The average cost of production for the three months ended March 31 was $154 an ounce, compared with $196 a year earlier. The cash cost of production during the fourth quarter of 1997 was $172 an ounce. Barrick's gold production rose to 769,282 ounces during the first quarter, up from 712,368 ounces a year earlier. Production at its Meikle mine, in Nevada rose to 280,704 ounces of gold during the first quarter of 1998, compared with 131,080 ounces a year earlier. The average cash cost of production at Meikle was $72 an ounce. (c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com