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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG -- Ignore unavailable to you. Want to Upgrade?

To: James H who wrote (250)	10/22/1998 8:22:00 AM
From: Famularo	Respond to of 48092

Globe says miner posts healthy third quarter profit gain Barrick Gold Corp ABX Shares issued 375,645,771 Oct 21 close $31.55 Thu 22 Oct 98 In the News The Globe and Mail reports in its Thursday, Oct. 22, 1998 edition that Barrick Gold's profit for the third quarter was $76-million (U.S.) on revenue of $327-million, up significantly from a loss of $315-million a year earlier when several mines were written down in value. Globe staff write that the quarter profit was 8.6 per cent higher from a year earlier if $385-million in non-cash charges from the writedowns are excluded. The loss for the third quarter of 1997 came to 84 cents a share on revenue of $316-million. Barrick produced 797,154 ounces of gold during the third quarter, increasing production for the first nine months of 1998 to 2.3 million ounces, compared to 2.2 million ounces in 1997. Barrick expects to produce 3.1 million ounces of gold during 1998. Average cash operating cost during the third quarter was $166 an ounce, a 6 per cent drop from a year earlier. The total production cost of $254 an ounce was down 3 per cent. Gold hedging enabled Barrick to sell its gold during the third quarter at an average of $400 an ounce, compared with the market price of $290 an ounce.