Barrick Mining Corporation · TSX:ABX
Barrick Mining — Barrick Gold — Citigroup Gold Symposium 2003
11 slides from Barrick Mining's conference presentation, Dec 11, 2003
Slide 1: Citigroup Gold Symposium
BARRICK GOLD CORPORATION Citigroup Gold Symposium December 11, 2003 BARRICK =u ... gold has been in a bull market since April 2001, rising ~ more than 50 percent in that time.” that a small amount of gold in a portfolio, something under 5 percent, can be an effective way to diversify, regardless of
Slide 2: NAV Valuation
BARRICK GOLD CORPORATION Citigroup Gold Symposium December 11, 2003 NAV VALUATION ® Barrick is trading at a discount on P/NAV basis PRICE TO NAV ANALYSIS (US$) Firm — gold price assumed K Newmont Citigroup Smith Barney - $380 1.79 BMO Nesbitt Burns - $406 1.83 CIBC - $375 3.2 CSFB - $395 3.14 Goldma
Slide 3: Resources to Execute Strategy
BARRICK GOLD CORPORATION Citigroup Gold Symposium December 11, 2003 RESOURCES TO EXECUTE STRATEGY FINANCIAL = “A” rated balance sheet — $1 Bin cash — no net debt = Capable of self-financing our development program without equity dilution HEDGING — Policy Change = Hedging — Working as intended = Adop
Slide 4: Alto Chicama Regional Targets
BARRICK GOLD CORPORATION Citigroup Gold Symposium December 11, 2003 S CAJAMARCA ALTO CHICAMA REGIONAL TARGETS \ O dra Grande ‘™\Huamachuco 1,350sq-km (1, \ Wi BeERITAD LAGUNAS Quiruvitca ar [ise crices ALUMBRE URURUPA 20“ ANCASH 76° \ \ RESOURCES TO EXECUTE STRATEGY HUMAN = New organizational struct
Slide 5: Execution — Exploration Strategy
BARRICK GOLD CORPORATION Citigroup Gold Symposium December 11, 2003 EXECUTION — Exploration Strategy ® More than 60 projects in 9 countries * > 2 million ounce gold deposits ® 6 high priority countries (Peru, Chile, Argentina, USA, Tanzania, Australia) m Le EXPLORATION & BUSINESS DEVELOPMENT Optimiz
Slide 6: Execution — Development Projects
BARRICK GOLD CORPORATION Citigroup Gold Symposium December 11, 2003 EXECUTION — Development Projects COWAL, AUSTRALIA = Open pit with carbon-in-leach technology for processing " 2003 focus: complete optimization study and final permitting PASCUA-LAMA, CHILE/ARGENTINA = Open pit with oxide and sulphi
Slide 7: Execution — Development Projects
BARRICK GOLD CORPORATION Citigroup Gold Symposium December 11, 2003 EXECUTION — Development Projects VELADERO, ARGENTINA POTENTIAL = Reserves: 9.4M = Production est: = Average cash cost est: $155/oz ¥ r PLAN open pits - crushing/leaching = Capital costs est: $460M Sossns: > EIS approved EXECUTION —
Slide 8: Execution — Operating Performance
BARRICK GOLD CORPORATION Citigroup Gold Symposium December 11, 2003 EXECUTION — Operating Performance = Nine month production: 4.21Moz = Third quarter production: 1.48Moz = Nine month cash costs: $186 per oz = Third quarter cash costs: $180 per oz — Excellent performances at Betze-Post and Kalgoorli
Slide 9: Execution — Operating Mines
BARRICK GOLD CORPORATION Citigroup Gold Symposium December 11, 2003 EXECUTION — Operating Mines = Solid base in OECD countries = 12 operating mines and 4 projects: — 87 Moz of reserves — 7 countries on 4 continents — employing over 7,000 people 2003E production: 5.4-5.5 Moz cash cost: $190-$195/oz F
Slide 10: Gold Price Performance
BARRICK GOLD CORPORATION Citigroup Gold Symposium December 11, 2003 GOLD PRICE PERFORMANCE “Sustainable gold rally” CORPORATE OBJECTIVES VISION " To be the global industry leader STRATEGY = Exploit our size, international experience and financial strength to replace/increase our reserves and product
Slide 11: Forward Looking Statements
BARRICK GOLD CORPORATION Citigroup Gold Symposium December 11, 2003 FORWARD LOOKING STATEME Certain statements included herein, including those regarding production, costs, development schedules and other statements that express management's expectations or estimates of our future performance, const