Barrick Gold Corporation (NYSE:ABX) Q4 2018 Earnings Conference Call Transcript

Feb 13, 2019 • 11:00 am ET


Barrick Gold Corporation (NYSE:ABX) Q4 2018 Earnings Conference Call Transcript


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Ladies and gentlemen, thank you for standing by. This is the conference operator. Welcome to the Barrick 2018 Fourth Quarter Results Conference Call. During the presentation, all participants are in listen-only mode. Following the presentation, we will conduct a question-and-answer session. (Operator Instructions) As a reminder, this conference call is being recorded, and a replay will be available on Barrick's website tonight, February 13th, 2019.

I would now like to turn the conference over to Mark Bristow, Chief Executive Officer of Barrick. Please go ahead, sir.

Mark Bristow

Thank you very much -- and I think it's working okay. Good morning, everyone. Welcome. As you've seen, we're starting something new here, face to face quarterlies. So I'm sure we're going to get better at this as we go along. A warm welcome to the people on the call wherever you are. We have structured it so that our investors across the globe are able to participate at a reasonable hour. So those who have phoned in particularly from London and Africa, you're all very welcome.

You'll see that the presentation today is a little different than what it'll be in the future. As you know, we closed the transaction on the 1st of January, so the reports for quarter four and 2018 are separate, and that's why you've got these two different documents, and then we've put a wrapper together to pick up on the forward-looking business, and so I'm going to present the results in that format. But at the same time, I'm going to, as we flow through the assets, also will give you some color of how far we've got in the short time that we've been officially together and give you a feel of the road ahead for each of the assets.

As you know, it's been barely seven weeks since this merger of Barrick and Randgold became effective. And what I'm able to tell you that in that short time we've made a really strong start towards our goal of becoming the world's most valued gold company, and, I am sure, sometimes that's lost on you, but valued means we want everyone to understand that we are a business driven, both value creation and also valued as a partner and an operator in our host countries.

For both John and I, and when we were motivating this transaction, we were very clear about it that the aim was never to be bigger. It was to combine world-class assets with world-class people and a business capable of sustainable profitable growth and industry leadership. And so my first priority has therefore been to see that we have teams and structures put for purpose, and we've made a lot of progress in this regard, as I'm sure you'll get to appreciate as we go through this presentation.

We've now got fully functional regional executive teams with North America, that's the US, Canada and Alaska being driven by Catherine and her team; Latin America led by Mark Hill and his team; and