CEO Alberto Calderon is confident the new operating model international major AngloGold Ashanti it introduced to follow up an organisation-wide restructuring is delivering improved operational performance after a steady March qtr.
Q1 production of 588,000oz gold at AISC of $US1,405/oz, while behind the 659,000oz at $1,389/oz in the previous period, keeps AngloGold on track for its FY2022 guidance of 2.55-2.8Moz at $1,295-1,425/oz.
Gold sales of 597,000oz at $1,881/oz (Q4FY2021: 658,000oz at $1,798/oz) delivered gold income of $1.02B ($1.04B) and adjusted EBITDA $438m ($478m). Free cashflow was $268M ($112M), boosted by $326M received from the Kibali mine in DR Congo.