AngloGold cost improved!
1Q Gold Production was 752K oz! Started a process to review divestment! AngloGold Ashanti said costs improved in the first quarter and all aspects of full-year guidance remained on track, as the Company started a process to review divestment options for its South African assets. Production for the three months ended 31 March 2019 was 752,000oz at an average total cash cost of $791/oz, compared to 824,000oz at $834/oz during the first quarter of last year. All-in sustaining costs from these operations fell 2% to $1,009/oz over the same period. The company delivered a solid Adjusted EBITDA margin of 37%, despite a lower gold price and marginally lower production from certain assets, which it had flagged earlier in February. AngloGold Ashanti is streamlining its portfolio to ensure greater management focus and to concentrate its capital on projects delivering the highest returns. The Company, which said it started a process to review divestment options for its South A...