What you need to know: • Gold had strong start to the year rising over $100/oz to $1928/oz in January. Copper also rose dramatically, rallying 12% to $4.20/lb • We anticipate 2023 to be a standout year for both precious metals and base metals and encourage investors to position themselves accordingly • Many central banks bought record levels of gold in January fuelling the price increase; gold takes hold as a safe-haven Sentiment Update As we anticipated from our December note, the mining se...
The general evaluation of ANGLOGOLD ASHANTI (ZA), a company active in the Gold Mining industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date February 15, 2022, the closing price was...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Fundamental Research Corp has issued a report entitled “Senior Gold Producers– Q2 Earnings Update (NYSE: NEM, GOLD, AU) Higher realized prices more than offset production declines Fundamental Research†and dated August 13, 2020. The full report is now at
AngloGold Ashanti announced limited operating results for the first quarter of 2019 that revealed few surprises. The company produced 752,000 gold ounces, down 3% when only including retained operations. Companywide costs declined slightly, with total cash costs falling 5% year on year to $791 per ounce and all-in sustaining costs falling 2% year on year to $1,009 per ounce. The company had previously guided that production would be heaviest in the back half of the year. As such, it maintained ...
AngloGold Ashanti announced limited operating results for the first quarter of 2019 that revealed few surprises. The company produced 752,000 gold ounces, down 3% when only including retained operations. Companywide costs declined slightly, with total cash costs falling 5% year on year to $791 per ounce and all-in sustaining costs falling 2% year on year to $1,009 per ounce. The company had previously guided that production would be heaviest in the back half of the year. As such, it maintained ...
AngloGold Ashanti announced limited operating results for the first quarter of 2019 that revealed few surprises. The company produced 752,000 gold ounces, down 3% when only including retained operations. Companywide costs declined slightly, with total cash costs falling 5% year on year to $791 per ounce and all-in sustaining costs falling 2% year on year to $1,009 per ounce. The company had previously guided that production would be heaviest in the back half of the year. As such, it maintained f...
AngloGold Ashanti announced limited operating results for the first quarter of 2019 that revealed few surprises. The company produced 752,000 gold ounces, down 3% when only including retained operations. Companywide costs declined slightly, with total cash costs falling 5% year on year to $791 per ounce and all-in sustaining costs falling 2% year on year to $1,009 per ounce. The company had previously guided that production would be heaviest in the back half of the year. As such, it maintained f...
AngloGold Ashanti announced operating results for 2018, finishing the year with continued solid performance. Production fell roughly 9% to 3.4 million gold ounces, but the decline largely reflected sold mines. Organic production actually rose 2% in 2018 over 2017. However, the most meaningful surprise was the continued progress AngloGold has made on costs. Total cash costs per ounce declined 2% to $773 per ounce for the full year, and all-in sustaining costs, or AISC, declined 7%, to $976 per ou...
AngloGold Ashanti operates in nine countries across Africa, South America, and Australia. With significant scale but high costs, AngloGold was geared to generate significant free cash flow during gold’s bull run that ended in 2013. In recent years, management has made progress in improving the company's cost profile.Roughly 15% of AngloGold’s production is based in South Africa, lower than historical levels as continued challenges in the region drove the company to sell mines in the country....
AngloGold Ashanti announced operating results for the third quarter, extending its solid performance through the end of September. Although production was largely flat over the prior-year quarter at 851,000 ounces, cost improvement continued as companywide total cash costs dropped 3% to $722 per ounce and all-in sustaining costs, or AISC, declined by 11% to $920 per ounce. However, with gold prices falling 5% over 2017 to $1,202 per ounce, adjusted EBITDA fell 10% to $355 million. Had AngloGold ...
AngloGold Ashanti announced operating results for 2018, finishing the year with continued solid performance. Production fell roughly 9% to 3.4 million gold ounces, but the decline largely reflected sold mines. Organic production actually rose 2% in 2018 over 2017. However, the most meaningful surprise was the continued progress AngloGold has made on costs. Total cash costs per ounce declined 2% to $773 per ounce for the full year, and all-in sustaining costs, or AISC, declined 7%, to $976 per ou...
AngloGold Ashanti announced operating results for the third quarter, extending its solid performance through the end of September. Although production was largely flat over the prior-year quarter at 851,000 ounces, cost improvement continued as companywide total cash costs dropped 3% to $722 per ounce and all-in sustaining costs, or AISC, declined by 11% to $920 per ounce. However, with gold prices falling 5% over 2017 to $1,202 per ounce, adjusted EBITDA fell 10% to $355 million. Had AngloGold ...
AngloGold Ashanti operates in nine countries across Africa, South America, and Australia. With significant scale but high costs, AngloGold was geared to generate significant free cash flow during gold’s bull run that ended in 2013. Although costs remain high relative to peers, management has focused on improving its portfolio.Roughly 15% of AngloGold’s production is based in South Africa, lower than historical levels as continued challenges in the region drove the company to sell mines in th...
First-half performance for AngloGold Ashanti was solid, as production excluding sold operations increased 4% to nearly 1.6 million ounces and all-in sustaining costs, or AISC, fell 2% to $1,005 per ounce. Combined with a higher gold price over first-half 2017, adjusted EBITDA from retained operations rose 22% to $722 million. Given solid first-half performance, the company now expects gold production at the high end of its full-year guidance of 3.325 million to 3.45 million ounces and at the low...
AngloGold Ashanti announced operating results for the third quarter, extending its solid performance through the end of September. Although production was largely flat over the prior-year quarter at 851,000 ounces, cost improvement continued as companywide total cash costs dropped 3% to $722 per ounce and all-in sustaining costs, or AISC, declined by 11% to $920 per ounce. However, with gold prices falling 5% over 2017 to $1,202 per ounce, adjusted EBITDA fell 10% to $355 million. Had AngloGold ...
First-half performance for AngloGold Ashanti was solid, as production excluding sold operations increased 4% to nearly 1.6 million ounces and all-in sustaining costs, or AISC, fell 2% to $1,005 per ounce. Combined with a higher gold price over first-half 2017, adjusted EBITDA from retained operations rose 22% to $722 million. Given solid first-half performance, the company now expects gold production at the high end of its full-year guidance of 3.325 million to 3.45 million ounces and at the low...
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