AngloGold Reduces Exposure to South Africa by Selling High Cost and Risky Assets for Fair Value
On Oct. 19, AngloGold Ashanti announced two transactions that will it reduce its exposure to South Africa, a country rich in gold but fraught with political risk. We believe the company received roughly fair value for the assets, so we’ve maintained our U.S. dollar-denominated fair value estimate of USD 8 per share. However, with a slight strengthening in the U.S. dollar since our last update, we’ve increased our South African rand-denominated fair value estimate to ZAR 110 per share from ZAR 10...
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