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AngloGold Ashanti (NYSE:AU) announced strong first quarter earnings, despite a drop in gold prices.
AngloGold Ashanti (NYSE:AU) announced strong first quarter earnings, despite a drop in gold prices.
As quoted in the press release:
A continued emphasis on cost optimisation saw total cash costs beat guidance at $894/oz, with further improvements during the year as focus was sharpened on generating sustainable free cash flow from an improving portfolio. The company’s two key new projects — Tropicana in Australia and Kibali in the DRC — are on schedule to pour their first gold by the end of the year adding half-a-million ounces of new production.
Anglo Gold’s CEO, Srinivasan Venkatakrishnan , said:
Our major projects remain on budget and on schedule to pour gold by year-end, improving the quality of the portfolio. Prudent capital allocation will drive our strategy to deliver profitable ounces and sustainable free cash flow, whilst maintaining a strong balance sheet.
To view the whole press release, click here.Â
