Barrick Gold (TSX:ABX, Financial) has continued to execute through the challenges posed by the pandemic, with strong production results and low costs driving improved free cash flow reported for first quarter 2020. Barrick has drawn on previous management experience with Ebola outbreaks in Africa to formulate a plan to promote the safety of its employees and communities in the face of Covid-19. The company has maintained its annual production guidance for 2020 with only a slight downward adjustment, due to a lease dispute with the government of Papua New Guinea. We believe the company’s prudent management team and strong and diver-sified asset base position it well to manage through the current trying environment.
From First Eagle Investment (Trades, Portfolio)'s Global Value Team second-quarter 2020 commentary.
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