AngloGold Down 3% in Pre-Market Despite Increased Q1 Earnings, Production

By Staff,

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AngloGold Ashanti Limited ( AU ) reported a six-fold increase in first quarter 2013 net income to $113 million, as the costs were better than guidance and the company made steady progress recovering from the strike action in South Africa in the last quarter of 2012.

Production was 899,000 oz at a total cash cost of $894/oz, compared to 859,000oz at $967/oz the previous quarter.

Production in the second quarter is expected to be in the range of 900,000oz to 950,000oz at total cash cost of $900/oz to $950/oz.

AU was down 3% to $18.38 in pre-market trade.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing Commodities
Referenced Stocks: AU

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