Revenue at African Barrick Gold remains stable

Mining company African Barrick Gold has posted first quarter revenue on par with the same period last year despite reduced production levels due to mine sequencing resulting, as expected, in lower grades.

Mining company African Barrick Gold has posted first quarter revenue on par with the same period last year despite reduced production levels due to mine sequencing resulting, as expected, in lower grades.

Revenue remained steady at $267.5m dollars (2010: $266.6m), but cash generated from operating activities plunged 36% from $86.7m to $55.5m, with basic earnings per share down 30% from 12.3 cents to 8.6 cents.

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