The following is a summary of the Barrick Gold Corporation (GOLD) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Barrick Gold reported a 143% increase in net earnings per share for Q1 2024, with adjusted net earnings per share growing by 36%.

• The attributable EBITDA margin rose by 5% to 41% and strong operating cash flows were reported at $760 million.

• A dividend of $0.10 per share was maintained.

• Despite rising copper and gold prices, Barrick's share price is lagging, indicating potential undervaluation.

• The company pointed out high prices for key commodities like steel balls, explosives, and cyanide are impacting costs, but efforts are on to bring these down, particularly in North America.

Business Progress:

• A fatal risk management program has been initiated to improve occupational safety and the company is increasing its renewable energy usage to meet a target of a 30% reduction in greenhouse gas emissions by 2030.

• Barrick Gold Corporation has outlined progress across several projects globally and is ramping up exploration activities. It also highlighted strong cost management which is supporting its expanding profit margin.

• A plan to transform Lumwana into a major copper mine and expansion at other project sites is on track.

• Investments have been made in workforce development in Nevada, leading to reduced labor pressure compared to previous years.

• Barrick Gold Corporation is planning a shutdown at the Gold Quarry roaster in July, which is expected to result in a substantial increase in throughput and decrease in costs.

More details: Barrick Gold IR

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