-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LHemK7Ho9dtQoFlyxloGkgVFmtC6o9qR3V2USPYNUhtVUnEnqb3jaIX0huhxKB88 orMK2DLufikyNI57z0PzJw== 0000947871-02-001920.txt : 20021007 0000947871-02-001920.hdr.sgml : 20021007 20021004175122 ACCESSION NUMBER: 0000947871-02-001920 CONFORMED SUBMISSION TYPE: 6-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20021004 FILED AS OF DATE: 20021007 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BARRICK GOLD CORP CENTRAL INDEX KEY: 0000756894 STANDARD INDUSTRIAL CLASSIFICATION: GOLD & SILVER ORES [1040] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 6-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-09059 FILM NUMBER: 02782530 BUSINESS ADDRESS: STREET 1: ROYAL BK PLZ, SO TOWER, STE 2700 STREET 2: P O BOX 119 CITY: TORONTO ONTARIO CANA STATE: A6 ZIP: 00000 BUSINESS PHONE: 4169239400 MAIL ADDRESS: STREET 1: ROYAL BK PLZ SO TOWER STE 2700 STREET 2: P O BOX 119 TONONTO CITY: ONTARIO M5H 2J3 STATE: A6 FORMER COMPANY: FORMER CONFORMED NAME: BARRICK RESOURCES CORP DATE OF NAME CHANGE: 19860109 6-K 1 f6k_100402.txt REPORT OF FOREIGN ISSUER SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Form 6-K Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 For the month of: October, 2002 Commission File Number: 1-9059 BARRICK GOLD CORPORATION (Name of Registrant) Royal Bank Plaza South Tower, Suite 2700 P.O. Box 119 Toronto, Ontario Canada M5H 2J3 (Address of Principal Executive Offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F Form 40-F X --- --- Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934: Yes No X --- --- If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A INCORPORATION BY REFERENCE The Registrant's Material Change Report (Exhibit 1 of Form 6-K (Commission File No. 1-9059) furnished to the Commission October 4, 2002) is incorporated by reference into the Registrant's registration statements on Form F-9/F-3 (Nos. 333-6756 and 333-6756-1) and Form F-3 (No. 333-14148). SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. BARRICK GOLD CORPORATION Date: October 4, 2002 By: /s/ Sybil E. Veenman -------------------------------- Name: Sybil E. Veenman Title: Associate General Counsel and Secretary EXHIBIT Exhibit Description of Exhibit Page ------- ---------------------- ---- 1 Material Change Report 5 EX-99.1 3 ex99_1-100402.txt MATERIAL CHANGE REPORT EXHIBIT 1 MATERIAL CHANGE REPORT ---------------------- TO: British Columbia Securities Commission Alberta Securities Commission Saskatchewan Securities Commission Ontario Securities Commission Quebec Securities Commission Nova Scotia Securities Commission Newfoundland Securities Commission ITEM 1 REPORTING ISSUER ---------------- Barrick Gold Corporation Royal Bank Plaza, South Tower Suite 2700, P.O. Box 119 200 Bay Street, Toronto, Ontario M5J 2J3 ITEM 2 DATE OF MATERIAL CHANGE ----------------------- September 26, 2002 ITEM 3 PRESS RELEASE ------------- A press release was issued on September 26, 2002 at Toronto, Ontario. A copy of the press release is attached hereto. ITEM 4 SUMMARY OF MATERIAL CHANGE -------------------------- On September 26, 2002, Barrick Gold Corporation ("Barrick") announced that it expects 2002 earnings per share in the 33-35 cent range (excluding non-hedge related adjustments) compared to earlier guidance for earnings at the lower end of the 42-47 cent per share range, based in both cases on a $315 spot gold price. For the year, Barrick expects production to be on target for 5.7 million ounces, while cash costs are expected to average $178 per ounce, compared to $172 per ounce previously estimated. In addition to higher cash costs, Barrick expects marginally lower gold sales and higher depreciation expense than previously forecast. See the press release attached hereto. ITEM 5 FULL DESCRIPTION OF MATERIAL CHANGE ----------------------------------- See the press release attached hereto. -2- ITEM 6 CONFIDENTIAL REPORT ------------------- Not applicable. ITEM 7 OMITTED INFORMATION ------------------- No significant facts have been omitted from this report. ITEM 8 SENIOR OFFICER -------------- Richard Young, Vice President, Investor Relations of Barrick (416-307-7431) or Sybil Veenman, Associate General Counsel and Secretary of Barrick (416-307-7470) may be contacted for further information regarding the foregoing. The foregoing accurately describes the material change referred to herein. Dated at Toronto, Ontario this 4th day of October, 2002. BARRICK GOLD CORPORATION by /s/ Sybil Veenman --------------------------------------- Sybil Veenman Associate General Counsel and Secretary [BARRICK LOGO] PRESS RELEASE - TORONTO, SEPTEMBER 26, 2002 For Immediate Release All amounts in United States dollars Barrick Revises 2002 Outlook Full Year Earnings per Share Expected to be in $0.33-$0.35 range; Q3 in $0.05-$0.06 range Barrick Gold Corporation (ABX: NYSE/TSE) announced today that it expects 2002 earnings per share in the 33-35 cent range (excluding non-hedge related adjustments)(1) compared to earlier guidance for earnings at the lower end of the 42-47 cent per share range, based in both cases on a $315 spot gold price. "Certain operations experienced lower than anticipated grades and recovery rates, resulting in lower production and higher costs," said John Carrington, Vice Chairman and Chief Operating Officer. "While our third quarter has been disappointing, we expect our fourth quarter results to improve as we mine better grades at several operations." Overall, for the year, production is on target for 5.7 million ounces, while cash costs are expected to average $178 per ounce, compared to $172 per ounce previously estimated. Cash costs are expected to average approximately $180 per ounce in the third quarter. Despite the higher costs, the Company expects to generate $370 million in free cash flow this year. "We've been working flat out to fix the mine sequencing and processing issues at several of our mines this year," said Mr. Carrington. "We thought we had turned the corner with a strong June, but it's clear now it's taking a little longer than we would have liked to resolve the issues. They are short-term, and we are resolving them." In addition to higher cash costs, the Company expects marginally lower gold sales and higher depreciation expense than previously forecast. The Company expects third quarter earnings to be in the 5-6 cent range, before rising to the 10-11 cent range in the fourth quarter, based on spot gold prices averaging $315 per ounce. "In spite of this quarter's results, the fact remains that our operating mines are a solid base for our growth plans," said Randall Oliphant, President and Chief Executive Officer. The Company's existing operations are expected to produce an average of 5.5 million ounces a year at $175 cash costs through 2006. Beyond that, under the growth plan announced earlier this month, Barrick expects to develop four new mines, which are anticipated to add 2 million ounces of production at lower costs than its existing operations. In addition, the Company has announced plans to bring its forward sales position down to 12 million ounces, or 15% of current reserves - a one-third reduction from present levels - by yearend 2003. In line with that plan, the Company expects to reduce its forward sales position to 16.9 million ounces from 17.9 million ounces, and its variable price sales and call option contract position from 3.1 million ounces to 2.2 million ounces, by the end of the third quarter this year. Barrick is a leading international gold producer with the industry's only A-rated balance sheet, a portfolio of long-life, low-cost operations on four continents and proven and probable reserves of 82.3 million ounces of gold. Barrick's shares are traded under the ticker symbol ABX on the Toronto, New York, London and Swiss Stock Exchanges and the Paris Bourse. CONFERENCE CALL NOTICE - -------- 1 Non-hedge related adjustments were a gain of $10 million, or $0.02 per share, (net of tax effects) for the six months ended June 30, 2002. BARRICK GOLD CORPORATION PRESS RELEASE Barrick Senior Management will be holding a Conference call: Thursday September 26, 2002 at 8:30 A.M., EDT North American callers dial: 888-391-0105 Overseas callers dial: 415-537-1854 The Conference Call will be available for replay until October 3rd by calling 800-558-5253, reservation #20933178 for North America and 416-626-4100, reservation #20932961 for overseas. A live webcast of the Conference Call will be accessible on Barrick's website at www.barrick.com INVESTOR CONTACT: MEDIA CONTACT: Richard Young Vincent Borg Vice President, Vice President, Investor Relations Corporate Communications Tel: (416) 307-7431 Tel: (416) 307-7477 Email: ryoung@barrick.com Email: vborg@barrick.com Certain statements included herein, including those regarding production, costs and earnings constitute "forward looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Barrick or of the gold mining industry to be materially different from future results, performance or achievements expressed or implied by those forward looking statements. These risks, uncertainties and other factors include, but are not limited to, changes in the worldwide price of gold or certain other commodities and currencies and the risks involved in the exploration, development and mining business. These factors are discussed in greater detail in Barrick's most recent Annual Information Form and Management's Discussion and Analysis of Financial and Operating Results" on file with the U.S. Securities and Exchange Commission and Canadian provincial securities regulatory authorities. BARRICK GOLD CORPORATION 2 PRESS RELEASE Production and Cost Summary
2002 Production (attributable ounces - 2002 Total Cash (000'S) Costs (US$/oz) --------------------------------------------------------- New Previous New Previous Forecast Forecast(1) Forecast Forecast(1) - -------------------------------------------------------- -------------------------- North America Betze-Post 1,390 1,387 $ 228 $ 221 Meikle 650 677 198 186 - --------------------------------------------------------- -------------------------- Goldstrike Property Total 2,040 2,064 219 210 Eskay Creek 355 378 42 22 Round Mountain 380 366 190 200 Hemlo 270 290 227 207 Holt-McDermott 85 91 174 155 - --------------------------------------------------------- -------------------------- 3,130 3,189 195 185 - --------------------------------------------------------- -------------------------- South America Pierina 885 845 78 78 Australia Plutonic 320 310 185 178 Darlot 140 142 172 166 Lawlers 110 112 187 181 - --------------------------------------------------------- -------------------------- Yilgarn District Total 570 564 181 176 Kalgoorlie 365 367 226 218 - --------------------------------------------------------- -------------------------- 935 931 199 193 - --------------------------------------------------------- -------------------------- Africa Bulyanhulu 350 362 199 191 Other/Mines closing in 2002 365 365 188 188 - --------------------------------------------------------- -------------------------- Total 5,665 5,692 $ 178 $ 172 - --------------------------------------------------------- --------------------------
1 Mid-year forecast BARRICK GOLD CORPORATION 3 PRESS RELEASE -----END PRIVACY-ENHANCED MESSAGE-----