Barrick nearly doubles Fourmile gold resource estimate
B•Barrick raised Fourmile’s estimated mineral resources to 15.6 million ounces and projected annual production to 750,000-850,000 ounces, while estimated project capital increased to about $2.6 billion. Excluding inferred resources, projected annual production is 400,000-500,000 ounces and estimated capital is $1.7 billion-$1.8 billion.
1. Fourmile estimates rise
Barrick’s November 10 assessment roughly doubled Fourmile’s estimated mineral resources to 15.6 million ounces, including 13 million inferred ounces, and raised projected annual gold production to 750,000-850,000 ounces. Estimated project capital rose to about $2.6 billion from $1.5 billion-$1.7 billion, while estimated all-in sustaining costs increased to $850-$950 per ounce, mainly reflecting royalties tied to higher gold prices; excluding inferred resources, projected annual production is 400,000-500,000 ounces and estimated capital is $1.7 billion-$1.8 billion.
