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AngloGold earnings up 182% to $231m in Q1

AngloGold Ashanti registered a profit before tax of 182% in the first quarter of this year, from US$82m in Quarter One 2019 to US$231m in Quarter One 2020.

The mining giant produced 716,000 ounces of gold in Q1 2020, supported by strong performances from Kibali, Geita and Iduapriem in Ghana.

The company said liquidity improved to US$2 billion at 31 March 2020, whilst it settled US$700m principal and final coupon on 10-year bond due 2020.

It also secured US$1bn standby facility in April 2020.

“These results have been prepared and published from a regulatory perspective in order to provide the group with flexibility on its liquidity position, in light of the current uncertain global economic environment as a result of the COVID-19 pandemic”, it pointed out.

It added that the details are only a summary of the information in the full announcement containing the detailed unaudited quarterly results and therefore do not contain full details of the Company’s financial position.

Source: Classfmonline.com

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