AngloGold Ashanti Results for the Second Quarter Ended 30 June 2006
Thursday, July 27, 2006, AngloGold Ashanti reported a strong financial performance for the second quarter of 2006, with adjusted headline earnings up 63% to $140m, primarily as a result of improved production and a 10% increase in the price received, to $600/oz. Production was 6% higher at 1.415 million ounces of gold, with total cash costs down 1% to $305/oz.
A dividend of 210 South African cents (30 US cents) per share has been declared for the six months ended 30 June 2006. This represents a 24% increase on the interim dividend of last year.
The company’s net debt level has been reduced over the quarter from $1.66bn to $1.03bn. In respect of the hedge book, the hedge delta was 315 tonnes or 10.1 million ounces as at 30 June 2006, marking a reduction of 1.1 million ounces, or 10%, as compared to the previous quarter’s reported hedge delta.
CEO Bobby Godsell said, “I’m pleased with AngloGold Ashanti’s solid operating performance and good financial results for the second quarter.”
Click here for the full quarterly report: www.anglogoldashanti.com/Reports/Financial/Quarterly+Reports/Financial+Results.htm
Except for historical information contained herein, there are matters discussed in this news release that are forward-looking statements. Such statements are only predictions and actual events or results may differ materially. For discussion of important factors including, but not limited to development of the Company’s business the economic outlook in the gold mining industry, expectations regarding gold prices and production, and other factors, which could cause actual results to differ materially from such forward-looking statements, refer to the Company’s annual report on the Form 20-F for the year ended 31 December 2005 which is filed with the Securities and Exchange Commission on 17 March 2006.
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- AngloGold Ashanti
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