Barrick Mining Corporation · TSX:ABX

Barrick Mining — Barrick Gold — Denver Gold Forum 2003

13 slides from Barrick Mining's conference presentation, Sep 24, 2003

  1. Slide 1: Barrick Fall 2003 Denver Gold Forum

    GOLD B A R R I C K F A L L 2 0 0 3 D E N V E R G O L D F O R U M

  2. Slide 2: Gold Price Performance; Corporate Objectives

    BARRICK GOLD CORPORATION Denver Gold Forum September 2003 Gold Price Performance ƒ Sustainable gold rally 400 375 350 325 300 275 250 12/31 2/28 8/31 10/31 12/31 2/28 8/31 10/31 12/31 2/28 4/30 6/30 4/30 6/30 4/30 6/30 2001 2002 2003 1 Corporate Objectives ƒ Vision – To be the global industry leader

  3. Slide 3: Vision – Global Industry Leader; Strategy – Grow Reserves

    BARRICK GOLD CORPORATION Denver Gold Forum September 2003 Vision – Global Industry Leader ƒ Top five gold producers (>2moz) 2002 RESERVES 2003E PRODUCTION 2003E TOTAL millions of ounces millions of ounces CASH COSTS 86.9 US dollars per ounce 83.2 7.2-7.4* 210-215* 212** 78.8 72.3 5.9* 5.4-5.5 198-20

  4. Slide 4: Strategy – Geopolitical Diversity; Execution – Operating Mines

    BARRICK GOLD CORPORATION Denver Gold Forum September 2003 Strategy – Geopolitical Diversity 2003E 2002 NORTH AMERICA PRODUCTION RESERVES Eskay Creek 30% 59% Hemlo Holt-McDermott 42% 15% Meikle 18% Betze-Post 17% Round Mt. 13% 6% Operating Mines SOUTH AMERICA EAST AFRICA Development Projects Bulyanhu

  5. Slide 5: Execution – Operating Mines

    BARRICK GOLD CORPORATION Denver Gold Forum September 2003 Execution – Operating Mines ƒ Managing costs as mining grades decline BARRICK’S PROCESSED GRADE VS RESERVE GRADE ounces per ton 51% 107% 57% 22% 57% 7% 9% 1997 1998 1999 2000 2001 2002 2003 ƒ Currently 10 of 12 operations are mining at reserv

  6. Slide 6: Execution – Development Projects

    BARRICK GOLD CORPORATION Denver Gold Forum September 2003 Execution – Development Projects ALTO CHICAMA, PERU POTENTIAL ƒ Reserves: 7.2Moz* ƒ Anticipated production 540,000 oz of gold at an average annual cash cost of $135 per ounce over the first decade of the project’s life PLAN ƒ Plan calls for o

  7. Slide 7: Execution – Exploration Program

    BARRICK GOLD CORPORATION Denver Gold Forum September 2003 Execution – Exploration Program GLOBAL GOLD EXPLORATION SPENDING 1997 2002 $3.3 B $0.8 B 3% BARRICK 13% ƒ Focus on exploration – 3 approaches: – around existing mines – development projects/districts – grassroots ƒ 2002 Results – Discovered 1

  8. Slide 8: Human Resources to Execute Strategy

    BARRICK GOLD CORPORATION Denver Gold Forum September 2003 Human Resources to Execute Strategy ƒ New organizational structure – Consolidating life-of-mine accountability under the COO – Establishing regional economic business units – Building a corporate center that adds value to the global enterpris

  9. Slide 9: Forward Sales Program

    BARRICK GOLD CORPORATION Denver Gold Forum September 2003 Forward Sales Program ƒ Generated a premium on gold sales for 62 successive quarters, providing over US$2 billion in additional revenue ƒ Additional profits realized help Barrick achieve greater gold leverage, with higher confidence: – acquir

  10. Slide 10: Mark-to-Market

    BARRICK GOLD CORPORATION Denver Gold Forum September 2003 Mark-to-Market TOTAL REVENUE FROM GOLD SALES1 – INCLUDING HEDGED GOLD billions of dollars 39.9 37.5 31.9 32.6 UNHEDGED HEDGED 25.4 25.4 UNHEDGED HEDGED UNHEDGED HEDGED -0.7 MTM -2.3 MTM -3.8 MTM $350/oz $450/oz $550/oz spot gold price spot go

  11. Slide 11: Corporate Governance, Accountability and Transparency

    BARRICK GOLD CORPORATION Denver Gold Forum September 2003 Corporate Governance, Accountability and Transparency ƒ Objective to be industry leader in corporate governance ƒ Separated Chairman and CEO ƒ Meet NYSE & SEC guidelines for board independence ƒ International Advisory Board ƒ New Corporate Re

  12. Slide 12: Attractively Priced - NAV Valuation

    BARRICK GOLD CORPORATION Denver Gold Forum September 2003 Attractively Priced - NAV Valuation ƒ On a P/NAV basis, Barrick is trading at a discount PRICE TO NAV ANALYSIS Firm – gold price assumed Barrick Newmont Placer Merrill Lynch - $375 2.07 3.03 1.86 BMO Nesbitt Burns - $375 1.21 1.92 1.16 CSFB -

  13. Slide 13: Barrick Investment Highlights

    BARRICK GOLD CORPORATION Denver Gold Forum September 2003 Barrick Investment Highlights ƒ Exciting time for gold ƒ Steady Current Operations – long-life assets – competitive cost structure – generating substantial free cash flow ƒ Robust Development Pipeline ƒ Active Exploration Program ƒ Strong Bal

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