The report went in depth about the production that Barrick Gold has done over the past year and also showed that the company was able to make approximately one half billion dollars more during the first quarter of 2011 than they did during the first quarter of 2010. The report also showed that revenue was remarkably up all across the board and all across the precious metals for Barrick Gold.
The report even went in depth to the point that it says that it costs Barrick Gold about $300 per ounce of gold to process. Compare this to the $1,500 price per ounce of gold these days and you can see the huge profit that is being made. The latest Barrick Gold report even broke down their production according to the regions that they have mines and each and every one of them show that huge profits are being made by the precious metal mining company these days. According to the quarterly earnings report, Barrick Gold has had revenues of almost $5 billion during the first quarter of 2011.
Barrick Gold states that they should be able to produce in excess of 8 million ounces of gold for the year of 2011. The bottom line is that Barrick Gold expects to make more money this year than they have in recent years. The company is constantly looking to expand its mines and are looking for more places to look for gold all over the world. This is certainly the result of the increased demand for precious metals and as long as that demand stays at its current all time highs, Barrick Gold will see more and more revenue and will certainly be making more and more money for some years to come. For the latest updates PRESS CTR + D or visit Stock Market news Today
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