Barrick Gold, stark rapport & dubbelbotten

Ett ytterligare tecken på att hela sektorn bottnade förra vecka är att ett av världens största guldbolag, Barrick Gold släppte en stark kvartalsrapport idag: Barrick Gold earns $861-million (U.S.) in Q1 2013

”Our high quality portfolio of mines combined with our sharp focus on cost management has translated into strong quarterly financial and operating results. It is very rewarding to see that our cost reduction efforts have begun to take effect and are reflected in low all-in sustaining costs of $919 per ounce and total cash costs of only $561 per ounce this quarter. We have also further reduced total capex, exploration and all-in sustaining cost guidance for the full year,” said Jamie Sokalsky, Barrick’s President and CEO.

Tekniskt ser det mycket intressant ut imo, Barrick är nere vid en historiskt viktig stödnivå och senast den nåddes var 2008. Om Barrick vänder upp härifrån betyder det att det skapas en enorm dubbelbotten i grafen, vilket är positivt tekniskt sett:

barrickgold

2 reaktioner på ”Barrick Gold, stark rapport & dubbelbotten

  1. Ja eller så var det så här?

    ”Barrick Gold saw its first quarter net earnings drop a dramatic 18.5% to $847 million, the company announced on Wednesday. Adjusted net earnings slid to $923
    The problem for Barrick is that costs have continued to move up, with total cash cost up 3.8% to $561 per ounce and all-in sustaining costs up $10 to $919 per ounce. The miner’s costs increased in all geographies in the first quarter with the exception of Australia-Pacific, which produced about 25% of the total pie.

    The situation was even more dramatic on the copper side of the business. While production increased 8.5% to 127 million pounds, average realized prices fell 5.8% to $3.56 per pound, while cash costs surged more than 20% to $2.46.

    Beyond the whims of the market, Barrick was also a victim to regulatory restrictions. The Pascua-Lima project, located in the Andes Mountains between Chile and Argentina, has been partially detained as a Chilean court of appeals granted an injunction to suspend construction activities in early April. Barrick has invested nearly $5 billion in the project which is estimated to be one of the largest gold and silver resources in the world, with nearly 18 million ounces of proven and probable gold reserves and 676 million ounces of silver. Barrick is assessing environmental and regulatory requirements and is evaluating all alternatives, the company said.

    To offset gold market weakness, Barrick has gone on a cost-cutting frenzy, having reduced overhead by $100 million for the full year, and having identified a further $500 million in reductions to expenditure. They cut capital expenditure guidance to $5.2 to $5.7 billion, from $5.7 to $6.3 billion previously. The company reaffirmed its gold production guidance of 7 to 7.4 million ounces at total cash costs of $610 to $660 an ounce.”

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