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2/6/18

The only bit that matters in the Barrick (ABX) NR on Pascua Lama


"...Barrick is reclassifying Pascua-Lama’s proven and probable gold reserves of approximately 14 million ounces, which are based on an open pit mine plan, as measured and indicated resources.1 As a result, we expect to record an estimated pre-tax impairment of $429 million at Pascua-Lama in the fourth quarter of 2017. Further details will be included in Barrick’s year-end results release on February 14, 2018."

Ouch.