"Barrick’s merger with Randgold Resources Ltd. created 'significant value' for shareholders, and the Newmont joint venture should do the same," Bristow said in a statement.
Following its $6.1B merger with Randgold in January, Barrick set a bullish guidance for 2019, forecasting a double-digit jump in output. The 2019 production guidance is currently set at 5.1-5.6 million oz. gold – an over 13% increase over 2018 levels – at all-in sustaining costs of $870-920/oz. Company officials expect its five-year gold production to be within that range, with costs expected to decline below the bottom of these ranges.
"We are engaged in reviewing the impact of the new JV on our guidance for both 2019 and the five-year outlook, and expect to provide an update during the year," Bristow added.