AngloGold Production Ahead of Guidance, Shares Dip in Pre-Market Trade

By Staff,

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AngloGold Ashanti ( AU ) reported second quarter gold production of 1.073 million ounces, which represents a 9% improvement on the first quarter, at an estimated total cash cost of $800/oz - $805/oz.

The company said the result is better than its market guidance for the quarter of 1.04 million ounces at a total cash cost of $840/oz - $845/oz, due largely to strong operating performances from the group's Continental Africa region and the Americas region. Production from the South African operations also improved over the period, and was 18% higher than the first quarter of 2012.

AU, despite despite the news, is last down 7 cents in the pre-market trade at $31.70.

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

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This article appears in: Investing Commodities
Referenced Stocks: AU

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