AngloGold Ashanti Limited
AngloGold Ashanti Limited
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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.
B2Gold is lifting its stake in the Gramalote Gold Project J/V in Colombia with fellow gold major AngloGold Ashanti to 50% from 48.3% and assuming management of the project.
The increase comes with B2Gold sole funding the next $US13.9M of the project next year after assuming management control in Jan 2020.
A record-strewn June 2019 year (FY 19), with production well up and costs down, has seen Independence Group (IGO) lift NPAT 44% on FY 18 to $A76M and heading for another solid year from its 100%-owned Nova and 30%-owned Tropicana operations in Western Australia.
The list of records include revenue and other income up 2% to $793M, underlying EBITDA 1% better to $341M, net cash from operating activities up 34% to $372M and underlying free cash flow of $278M.