You are comparing the gold reserves of two leading mining companies, Barrick Gold Corporation and Newmont Corporation, for the fiscal year 2023.

Requirements:

1. Barrick Gold reported gold reserves of 100 million ounces at the end of 2023. Newmont Corporation reported gold reserves of 80 million ounces during the same period.
2. Calculate the difference in gold reserves between Barrick Gold and Newmont Corporation.
3. Analyze and discuss the implications of the difference in gold reserves on the production capacity and valuation of both companies.