AngloGold Ashanti Limited
AngloGold Ashanti Limited
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Gold miners IAMGOLD and AngloGold Ashanti (AGA) are selling their collective 82% stake in Société d’Exploitation des Mines d’Or de Sadiola (SEMOS) and its producing Sadiola Sulphides Gold Project in Mali to Allied Gold for $US105M cash.
AngloGold Ashanti expects its Obuasi Gold Mine in Ghana to produce about 350,000oz-400,000oz pa for the 1st 10-years, after its 1st gold pour since it was suspended 5-years ago.
The initial capex for the mine, which has been in the process of redevelopment since last year, remains at $US495M-$545M. The company estimates that following a ramp-up period, it expects a rate of 2,000tpd during 2020, climbing to 4,000tpd by year-end.
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Analyst flags Dec 2019 qtr Australian gold output rise after Sept qtr fall as local gold mine control doubles to 60% from 2002
A minesite invasion by local community members has forced AngloGold Ashanti to suspend mining operations at its 85%-owned Siguiri openpit oxide gold mine in Guinea.
The protest by members of the Fatoyah community on Friday was sparked by a dispute over a road.
Company spokesman Stewart Bailey told Reuters talks were being held with community leader seeking to resolve the dispute.
Siguiri, about 850km N of Conakry, produced 242,000oz gold in 2018.
West Australian company Matsa Resources has completed the first full quarter of mining at its 100%-owned Red October gold project, delivering 10,903t @ 5.39g/t to the Sunrise Dam treatment plant in the Sept qtr (Q1FY20) under its ore purchase and processing agreement with AngloGold Ashanti.
Ore production is expected to increase significantly with the commencement of stoping in the coming quarter.
International gold miner AngloGold Ashanti has lifted Sept 2019 qtr (Q3 19) gold production 3% on Q2 19 to 825,000oz and free cash flow 12% thanks to higher gold prices, and says its Obuasi underground gold project in Ghana will start by year-end, Reuters reports.
Gross profit jumped 52% from the same qtr last year to $US281M.
Things are looking good for Anglo Gold Ashanti with Q3 19 gold production up 3% and increased Q4 19 production expected from its Tanzania, Guinea, Australia and Brazilian operations
With output generally down a little, a big jump in the nickel price and help from gold and cobalt, have lifted Independence Group’s Q1 20 profit 119% to $66M
Explorer/developer Corvus Gold has completed a $C23M bought deal financing to advance its near term neighbouring gold-silver North Bullfrog and Mother Lode properties in Nevada, US.
The raising, including the full exercise of the underwriters’ over-allotment option, was for 11.5M Corvus shares at $2.00oz, with AngloGold Ashanti maintaining its 19.9% stake in Corvus and European and US institutions taking up to about 80% of the offering.