ASIC chases Barrick over missing reports

Eight subsidiaries of Barrick Gold have drawn the ire of the corporate regulator for failing to lodge financial reports.

The Perth Magistrates Court heard today that the eight subsidiaries failed to lodge financial reports, directors reports, auditors reports or any concise reports from May 1, 2007, to March 9, 2012.

ASIC alleges the group also failed to provide reports to its members over the same period.

Barrick told the court today it planned to plead guilty to all 14 charges of failing to comply with their obligations to lodge reports with ASIC.

The comnpany faces a maximum penalty of $13,750 for each offence.

The matter has been adjourned for sentencing on August 10.