Barrick Gold Corporation
Q1 2022 Earnings Call
May 04, 2022, 11:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Ladies and gentlemen, thank you for standing by. This is the conference operator. Welcome to the Barrick 2022 first quarter results conference call. During the presentation, all participants are in a listen-only mode.
Following the presentation, we will conduct a question-and-answer session. [Operator instructions]. As a reminder, this conference call is being recorded, and a replay will be available on Barrick's website later today, May 4, 2022. I would now like to turn the conference over to Mark Bristow, chief executive officer.
Please go ahead, sir.
Mark Bristow -- Chief Executive Officer
Thank you, and very good morning, and good afternoon, ladies and gentlemen. The world today is facing the greatest period of economic, social and geopolitical disruption it has experienced in more than a generation. Russia's war on the Ukraine and its expected larger ambitions could redraw the map of Europe, breaking down what everyone thought was a permanently settled order. This is already having a painful economic impact on many countries who are dependent on Russian oil and gas, but also on industries worldwide who are facing serious supply and logistics challenges in a rising inflation environment.
Meanwhile, over in China, COVID has come back in a big way, dispelling any nation that the worst of the pandemic was behind us. All in all, it's a time of radical change and no one knows how it's going to turn out. As far as Barrick is concerned, however, scenario planning is an important part of our regular strategic reviews and they keep us prepared for all reasonably conceivable outcomes, including the worst case ones. Our global presence means that our risks are spread widely and the strength of our asset base, our balance sheet and our management gives us confidence in our ability to navigate the turbulence.
Please take note of this cautionary statement, which is also available on the Barrick website. These are the salient features of the past quarter. As we messaged, production was softer than the previous quarters for reasons I'll explain later. As planned, we expect that the second half of the year will be stronger, which should keep us on track to meet our annual guidance.