Along with announcing an increase in adjusted net income in the second quarter, Barrick Gold Corp. on Monday reported an updated feasibility study of the Goldrush exploration project in Nevada confirmed Goldrush is a world-class asset.
The company also reported that a record of decision on Goldrush from the U.S. Bureau of Land Management is now anticipated in the fourth quarter of next year.
Catherine Raw, chief operating officer for North America, said in a earnings webinar that the permitting for Goldrush has been a “long time coming” and takes in many issues but the “decline exploration allows us to ramp up quickly,” once there is a record of decision.
The twin declines, or ramps, at Goldrush allow for current underground exploration and later production.
Barrick posted adjusted net earnings of $513 million, or 29 cents per share, in the second quarter, up from $415 million, or 23 cents per share, in the 2020 quarter, and net earnings of $411 million, or 30 cents per share, compared with $357 million, or 20 cents per share, in the quarter ending June 30, 2020.
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