Barrick Gold Corporation (NYSE: ABX) shares dip on weak gold price.

Barrick Gold Corporation shares are currently trading at $40.03 which is 5.52% below than Friday’s closing price of $42.37. The company shares have 52-week trading range of $32.17 - $48.02. The stock is below its 50 day moving average of $42.97 and 200 day moving average of $40.52. The Relative Strength Index (RSI) is 35.04 showing weakness in the stock. The sustenance and resistance levels of NVIDIA Corporation are $39.70 and $40.32. The Market capitalisation of the company is $39.41 Billion.

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The region has two advanced projects in construction: the Cortez Hills expansion project in Nevada and the Pueblo Viejo joint-venture (60%) in the Dominican Republic.

Cortez Hills continues to exceed plan, its property produced 0.29 million ounces at total cash costs of $308 per ounce in Q2 and is on track to exceed its original production guidance for 2010. The Pueblo Viejo and Pascua-Lama projects remain in line with their respective pre-production capital budgets with first production expected in Q4 2011 and Q1 2013, respectively. At full capacity and combined with Cortez Hills, these projects are forecast to contribute about 2.4 million ounces(4) of annual production at low cash costs.

Barrick Gold Corporation is engaged the production and sale of gold, as well as related activities, such as exploration and mine development. Barrick also produces copper, and hold interests in oil and gas properties located in Canada. Its producing mines are concentrated in four regional business units: North America, South America, Africa and Australia Pacific. In addition, it has a Capital Projects segment, distinct from its regional business units, to focus on managing projects.

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 During the year 2009, the Company completed the acquisition of 50% interest in the Valhalla oil and gas field, acquisition of the remaining 50% interest in the Williams and David Bell gold mines in Canada from Teck Resources Ltd., increasing its interest to 100%. Barrick’s operate in 4 regions: North America, South America, Australia Pacific and Africa.

The North American region has 50.6 million ounces of proven and probable gold reserves1, which represents 37% of the Company’s total reserves. South America region hosts 50.5 million ounces of gold or 36% of the Company’s overall proven and probable gold reserves. African region hosts 18.4 million ounces of proven and probable gold reserves.

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