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    ABX   CA0679011084

BARRICK GOLD CORPORATION

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Delayed Toronto Stock Exchange  -  05/27 04:15:19 pm EDT
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Barrick Gold : Nevada Gold Mines Workplace Giving Program, the Heritage Fund, Contributes Over $780,000 to 580 Non-Profit Organizations in Its First...

12/15/2021 | 01:39pm EDT

ELKO, Nevada - Nevada Gold Mines (NGM) is pleased to announce the company's charitable workplace giving program, the Heritage Fund, contributed over $780,000 to 580 non-profit organizations in its inaugural year. The program launched in December 2020 with an initial $25 gift from the company to all employees to kick off their giving. NGM also matches all donations made by employees to qualified non-profits at 120 percent. The mission of the Heritage Fund is to support the communities where we live and operate now and into the future.

"This was an exciting first year for the Heritage Fund! Thanks to the 1,900 employees engaged in the program, the Heritage Fund made a significant impact in our local communities. While still in its infancy, we will only see this program grow and become more successful" said Shane Moss, Heritage Fund Executive Director.

Last week, the company celebrated the fund's first anniversary with local non-profit organizations and community leaders. At the event, several non-profit leaders recognized how impactful the NGM Heritage Fund program has been to their organizations.

"With the Heritage Fund, we can lend a helping hand, equipment, supplies, and pay for pain medication at a time of great stress and sadness for families. Nevada Gold Mines employee giving has enabled us to do the work in our community without a cost to these families. We cannot thank the Heritage Fund, and all the employees enough for the generosity" said Billie Jean Crawford, Director, Horizon Hospice.

"The Heritage Fund is just one of the many ways NGM is working to help support Nevada," says Greg Walker, Nevada Gold Mines Executive Managing Director. "Providing a convenient avenue for our employees to give to non-profits they are passionate about while also addressing the important needs of our communities makes this worthwhile. Our company match is a win-win for us in being able to support our employees' funding decisions and the non-profit community."

About Nevada Gold Mines

Nevada Gold Mines is operated by Barrick Gold Corporation (NYSE:GOLD) and is a joint venture between Barrick (61.5%) and Newmont (38.5%) that combined their significant assets across Nevada in 2019 to create the single largest gold-producing complex in the world.

Enquiries:

Barrick COO North America
Catherine Raw
+1 416 307 5157
Email: craw@barrick.com

NGM Executive Managing Director
Greg Walker
+1 702 526 3194
Email: gwalker@nevadagoldmines.com

Barrick Investor and Media Relations
Kathy du Plessis
+44 20 7557 7738
Email: barrick@dpapr.com

Cautionary Statement on Forward-Looking Information

Certain information contained or incorporated by reference in this press release, including any information as to our strategy, projects, plans or future financial or operating performance, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. The words "opportunity", "build", "believe", "expect", "anticipate", "vision", "potential", "strategy", "prospective", "may", "will", "can", "could", "would" and similar expressions identify forward-looking statements. In particular, this press release contains forward-looking statements including, without limitation, with respect to: the geological prospectivity of the NGM properties and Fourmile Project in Nevada; Barrick's forward-looking production guidance; mine life and production rates and potential Life of Mine extensions at NGM; Barrick's engagement with Nevada's Department of Education and Discovery Education to support remote learning through broadband initiatives; our plans and expected benefits of our growth projects; our support for the Western Shoshone Scholarship Foundation and economic and social development priorities within our host communities in Nevada, including local hiring, procurement, training and community development initiatives; and expectations regarding future price assumptions, financial performance and other outlook or guidance.

Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management's experience and perception of current conditions and expected developments, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: fluctuations in the spot and forward price of gold, copper or certain other commodities (such as silver, diesel fuel, natural gas and electricity); the speculative nature of mineral exploration and development; changes in mineral production performance, exploitation and exploration successes; risks associated with projects in the early stages of evaluation and for which additional engineering and other analysis is required; disruption of supply routes which may cause delays in construction and mining activities at Barrick's more remote properties; diminishing quantities or grades of reserves; increased costs, delays, suspensions and technical challenges associated with the construction of capital projects; operating or technical difficulties in connection with mining or development activities, including geotechnical challenges and disruptions in the maintenance or provision of required infrastructure and information technology systems; failure to comply with environmental and health and safety laws and regulations; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices; expropriation or nationalization of property and political or economic developments in Nevada, the United States and other jurisdictions in which the Company or its affiliates do or may carry on business in the future; timing of receipt of, or failure to comply with, necessary permits and approvals; uncertainty whether some or targeted investments and projects will meet the Company's capital allocation objectives and internal hurdle rate; risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic; damage to the Company's reputation due to the actual or perceived occurrence of any number of events, including negative publicity with respect to the Company's handling of environmental matters or dealings with community groups, whether true or not; the possibility that future exploration results will not be consistent with the Company's expectations; risks that exploration data may be incomplete and considerable additional work may be required to complete further evaluation, including but not limited to drilling, engineering and socioeconomic studies and investment; risk of loss due to acts of war, terrorism, sabotage and civil disturbances; litigation; contests over title to properties, particularly title to undeveloped properties, or over access to water, power and other required infrastructure; business opportunities that may be presented to, or pursued by, the Company; risks associated with the fact that certain of the initiatives described in this press release are still in the early stages and may not materialize; whether benefits expected from recent transactions are realized; our ability to successfully integrate acquisitions or complete divestitures; risks associated with working with partners in jointly controlled assets; employee relations including loss of key employees; increased costs and physical risks, including extreme weather events and resource shortages, related to climate change; and availability and increased costs associated with mining inputs and labor. Barrick also cautions that its 2021 guidance may be impacted by the unprecedented business and social disruption caused by the spread of Covid-19. In addition, there are risks and hazards associated with the business of mineral exploration, development and mining, including environmental hazards, industrial accidents, unusual or unexpected formations, pressures, cave-ins, flooding and gold bullion, copper cathode or gold or copper concentrate losses (and the risk of inadequate insurance, or inability to obtain insurance, to cover these risks).

Many of these uncertainties and contingencies can affect our actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements are not guarantees of future performance. All of the forward-looking statements made in this press release are qualified by these cautionary statements. Specific reference is made to the most recent Form 40-F/Annual Information Form on file with the SEC and Canadian provincial securities regulatory authorities for a more detailed discussion of some of the factors underlying forward-looking statements and the risks that may affect Barrick's ability to achieve the expectations set forth in the forward-looking statements contained in this press release. We disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

Disclaimer

Barrick Gold Corporation published this content on 15 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 December 2021 18:38:03 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2022 12 131 M - -
Net income 2022 2 041 M - -
Net cash 2022 804 M - -
P/E ratio 2022 15,6x
Yield 2022 3,76%
Capitalization 36 548 M 36 548 M -
EV / Sales 2022 2,95x
EV / Sales 2023 2,77x
Nbr of Employees 17 500
Free-Float 99,4%
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 20,54 $
Average target price 27,99 $
Spread / Average Target 36,3%
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Managers and Directors
Dennis Mark Bristow President, CEO & Non-Independent Director
Graham Patrick Shuttleworth Chief Financial Officer
John Lawson Thornton Co-Chairman
Gustavo A. Cisneros Independent Director
Joseph Brett Harvey Lead Independent Director
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