Aug. 7, 2013, 3:51 AM
- AngloGold Ashanti (AU): Q2 adjusted headline loss $135M vs a profit of $113M a year earlier.
- Revenues fall to $1.30B from $1.68B.
- Takes $3.2B charge for special items, including $2.98B for impairment of goodwill, tangible and intangible assets.
- Pretax loss $3.08B vs profit of $495M.
- Diluted loss per share $5.75.
- Gold production 935,000 oz, in-line with guidance and up 4% from Q1; total cash cost $898/oz, below expectations.
- Cuts 2013 capex budget to $1.95B from up to $2.1B.
- To "more than halve" corporate costs in 2014 and targets saving of $482M for the year. To cut 40% of 2,000 corporate level jobs over the next 18 months, will reduce exploration and evaluation programs to three core regions and pull out of over a dozen countries.
- Halts dividend payment, due to volatile environment. Will review policy at year-end. Will also revert to bi-annual dividend schedule. (PR)
Feb. 20, 2013, 5:31 AMAngloGold Ashanti (AU): 2012 adjusted profit -29% to $924M, EPS falls to $2.39 from $3.36 vs consensus of $3.03. Earnings hurt by strikes at its South African mines and subsequent production cuts. Gold output 3.94M ounces, missing target of 4.3-4.4M ounces. Costs per ounce +14% to $1,009. To pay dividend of 0.50 rand ($0.06) a share for Q4, matching the payout in Q3. (PR) | Comment!
Nov. 8, 2012, 6:12 AMMore on AngloGold (AU) Q3: profit plummets 63% to $168M as earnings hurt by the months-long strike in South Africa, which has caused company to lose 250K oz of gold production so far. Total Q3 output -4% to 1.03M oz. Costs +12% to $1,081/oz. Cuts 2012 capital spending by $200M to $2B-$2.1B to make up for lost output. | Comment!
Nov. 8, 2012, 6:02 AM
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