Gold Fields Posts Q3 Production Expectations; Shares Nudge 1% Higher

By Staff,

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Gold Fields Ltd. ( GFI ) climbed 0.8% in morning trade after announcing its production expectations for Q3 2012. GFI will release full results for Q3 2012 on Monday, 26 November 2012.

Production for the quarter is expected to be 810,000 gold equivalent ounces compared to 862,000 ounces in the June quarter (Q2 2012) and 900,000 ounces in the corresponding quarter one year ago (Q3 2011).

The international regions had a solid quarter, contributing 424,000 (Q2 2012 - 425,000) attributable gold equivalent ounces. Noteworthy has been the recovery at the Agnew Gold Mine in Australia, which contributed 48,000 (Q2 2012 - 37,000) ounces of gold.

The 386,000 (Q2 2012 - 437,000) ounces contribution by the South Africa Region was negatively impacted by a loss of approximately 30,000 ounces as a result of the fire at the YaRona Shaft of the KDC Gold Mine during the quarter, and a further approximately 35,000 ounces as a result of the unprotected strike action at KDC and the Beatrix Gold Mine during the quarter.

GFI is up 0.8% at $12.45, trading in a 52-week range of $11.71 - $18.39. Shares have fallen 20% in the last 12 months.

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: GFI

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