AngloGold cash up 607%, earnings up 671%, gold output up 22%, costs up only 1%
In the first quarter (Q1) of this year, gold mining company AngloGold Ashanti has reported a sevenfold increase in free cash flow and an almost eightfold rise in profit attributable to equity shareholders compared with the corresponding period of last year, underpinned by higher gold production, a smidgen cost rise amid an average gold price received per ounce increasing to $2 874/ oz from $2,063/oz in Q1 2024. Free cash flow was up by a stunning 607% to $403-million on 22% more gold production and the cost rise was a mere 1%.
In the first quarter (Q1) of this year, gold mining company AngloGold Ashanti has reported a sevenfold increase in free cash flow and an almost eightfold rise in profit attributable to equity shareholders compared with the corresponding period of last year, underpinned by higher gold production, a smidgen cost rise amid an average gold price received per ounce increasing to $2 874/ oz from $2,063/oz in Q1 2024. Free cash flow was up by a stunning 607% to $403-million on 22% more gold production and the cost rise was a mere 1%.
