Barrick Mining Corporation · TSX:ABX
Barrick Mining — BMO 23rd Global Metals & Mining Conference 2014
11 slides from Barrick Mining's conference presentation, Feb 24, 2014
Slide 1: BMO 23rd Global Metals & Mining Conference
BMO 23rd Global Metals & Mining Conference Hollywood, Florida – February 24, 2014
Slide 2: Cautionary Statement on Forward-Looking Information
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION Certain information contained or incorporated by reference in this presentation, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements”. All statements, o
Slide 3: Reshaping Barrick's Future
Reshaping Barrick’s Future Disciplined capital allocation framework continues to be at the core of every decision Shift in strategy provided head start to prepare for lower gold prices Prioritizing free cash flow and profitable production Transforming T f i Barrick B i k into i t a leaner, l
Slide 4: Fourth Quarter Results/2013 Highlights
Fourth Quarter Results/2013 Highlights Strong Q4 operating results: – Gold production of 1.71 1 71 Moz at AISC of $899/oz(1) – Copper production of 139 Mlbs at C1 cash costs of $1.81/lb(1) Q4 adjusted net earnings of $0.41B $0 41B ($0.37/share) ($0 37/share)(1) Q4 net loss of $2.83B ($2.61/sha
Slide 5: 2013 Copper Performance vs Guidance
2013 Copper Performance vs Guidance Production(1) (Mlbs) C3 Fully Allocated C1 Cash Costs(1) Costs(1,2) ($US/lb) ($US/lb) 539 520- Actual ~5% 550 2.60- ~8% Revised 2.85 480- 480 Oi i l Original 2.40- 2 40 540 2.60 2.42 Original Revised Actual 2.10- ~11% 2 30 2.30 Original 1.90- 2.00 1.92 Revised Act
Slide 6: Portfolio Optimization
Portfolio Optimization Ongoing portfolio management is fundamental to our business model The objective is to retain assets which hold longer term shareholder value Mines reduced to 19 by mid-2014 from 27 in 2013 – divested di ested Darlot, Da lot Granny G ann Smith, Smith Lawlers, La le s Plut
Slide 7: 2013 Reserves and Resources
2013 Reserves and Resources(1) Conservative $1,100 per ounce gold price reserve assumption p reflects commitment to maximize risk- adjusted returns and free cash flow Gold Moz P&P Reserves 104.1 M&I Resources 99.4 Inferred Resources 31.9 Copper pp Blb P&P Reserves 14.0 M&I Resources 6.9 Inferred R
Slide 8: 2013 Peer Reserves and Grades
2013 Peer Reserves and Grades (1) Reserve Ounces (Moz) 120 110 Barrick 100 90 Newmont 80 Newcrest 70 60 Goldcorp 50 40 Kinross 30 0.6 0.7 0.8 0.9 1.0 1.1 1.2 1.3 1.4 (1) Source: Company filings Reserve Grade (g/t) 11 High Quality Portfolio Five Core Mines 2013: 55% of total at average AISC of <$70
Slide 9: High Quality Portfolio
High Quality Portfolio 2014e: 6.0-6.5 Moz of gold at AISC of $920-$980/oz(1) ~60% 5 core mines at AISCe of $750-$800/oz ~20% 6 mines at AISCe of $900 ~20% -$950/oz 6 mines at AISCe of >$1,100/oz (1) See final slide #7. 13 Pascua-Lama: Full Ramp-Down by Mid-2014 Temporary suspension improves near t
Slide 10: 2014 Outlook
2014 Outlook(1) Gold Production: 6.0-6.5 6 0 6 5 Moz AISC: $920-$980/oz Adjusted Operating Costs: $590-$640/oz Copper Production 470-500 Mlbs C1 cash costs $1.90-2.10/lb C3 fully allocated costs: $2 50 $2 75/lb $2.50-$2.75/lb (1) See final slide #5. 15 2014 Outlook(1) Total capex reduc
Slide 11: The Next Phase
The Next Phase Prioritizing cash flow and profitable production Capital discipline Strategic scenario planning to maximize cash flow in any price environment High Well positioned in current gold price cycle quality assets AISC remains the lowest of senior producers Implementing further cost reductio
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