and Chief Executive Officer
Borg, Vice President Corporate Communications
Epstein, Coordinator, Corporate Communications
3700, P.O. Box 212
is a leading international gold mining company, with a portfolio
operating mines and development projects located in the United
Canada, Australia, Peru, Chile, Argentina and Tanzania.
2004, the Company’s 12 operating mines produced approximately 5 million
ounces of gold, at total cash costs of $212 per ounce1,
the lowest total cash costs of all senior producers.
Company increased its reserves by over 3 million ounces during
proven and probable gold mineral reserves of 89 million ounces2
at December 31, 2004.
cash costs per ounce statistic for 2005 and 2004 are not comparable due to
change in accounting for deferred stripping costs - see page 18 of the
Management’s Discussion and Analysis accompanying the Company’s Third Quarter
earnings release. Total cash costs per ounce exclude amortization - see page
of the Management’s Discussion and Analysis accompanying the Company’s Third
Quarter earnings release.
reserves calculated at December 31, 2004 using an assumed price of $375 per
ounce for gold. Calculations were performed by employees of Barrick under
supervision of Rene L. Marion, P. Eng., Vice President, Technical Services
Barrick. Reserve calculations incorporate current and/or expected mine plans
cost levels. Barrick’s normal data verification procedures have been employed in
connection with the calculations. For a breakdown of reserves by category
for additional information on Barrick’s reserve methodology, see Barrick’s most
recent Annual Information Form / Form 40-F on file with Canadian provincial
securities regulatory authorities and the US Securities and Exchange
2005, the Company expects gold production to be 5.4 to 5.5 million
at an average total cash cost of about $225 per ounce3.
Company has successfully completed the construction of the Tulawaka,
Lagunas Norte and Veladero mines in 2005, and it has five projects at
various stages in the pipeline.
new mines and projects are expected to add significant amounts
production at low total cash costs to achieve the Company’s aggressive
growth profile by 2007
robust pipeline of development projects is due to the Company’s ongoing
commitment to exploration, even in times of lower gold
is also actively exploring approximately 100 projects, in 16 countries.
shares are traded on the Toronto, New York, London and Swiss Stock Exchanges,
and the Euronext Paris.
plans to file with the U.S. Securities and Exchange Commission a Registration
Statement on Form F-8, which will include Barrick’s offer and take-over bid
circular. Investors and security holders are urged to read the offer and
take-over bid circular, regarding the proposed business combination transaction
referred to in the foregoing information, when these documents become available,
because they will contain important information. Investors may obtain a free
copy of the offer and take-over bid circular when they become available and
other documents filed by Barrick with the SEC at the SEC’s website at
www.sec.gov. The prospectus and these other documents may also be obtained
free, once they have been mailed, on Barrick’s website or by directing a request
to Barrick’s media or investor relations department.
on Barrick’s reserve methodology, see Barrick’s most recent Annual Information
Form / Form 40-F on file with Canadian provincial securities regulatory
authorities and the US Securities and Exchange Commission.