AngloGold Ashanti Working on “Self-help Measures”

AngloGold Ashanti Ltd. (NYSE:AU,JSE:ANG) announced its Q3 results, commenting that it beat its guidance for the quarter, producing 1.128 million ounces. That’s an 8-percent increase year-on-year.

Meanwhile, cash costs increased 1 percent, hitting $820 per ounce; that’s also below guidance.

Other highlights include:

• All-in-sustaining costs down 10% year-on-year to $1,036/oz
• All-in costs down 19% year-on-year to $1,144/oz
• Free Cash Flow of $30m, vs outflow of $222m in the same period a year ago
• Adjusted EBITDA $400m from $327m year-on-year
• EBITDA margin up to 31% from 24% year-on-year
• Normalised AHEPS 16 US cents to 28 cents year-on-year due to lower gold price, inflationary increases, higher amortisation and taxation charges
• Significant maiden resource declared at Nuevo Chaquiro copper-gold deposit in Colombia

CEO Srinivasan Venkatakrishnan commented:

Our operations are firing on all cylinders. We’ve prioritised and have started working on a range of self-help measures to generate cash from within the current operating base to further deleverage the balance sheet over the medium term. We will also consider the sale or partnership of an operating asset, if required.

Click here to read the full AngloGold Ashanti Ltd. (NYSE:AU,JSE:ANG) press release.