UPDATE: AngloGold Production Ahead of Guidance, Shares Dip 0.4%

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AngloGold Ashanti ( AU ) is down 0.4% at $31.63, and earlier fell as low as $31.10, just above its 52-week low $30.70 after it reported second quarter gold production of 1.073 million ounces, 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.

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