AU - AngloGold's Q1 EBITDA slips production flat but maintains full-year guidance

AngloGold Ashanti (NYSE:AU) -7% in Monday's trading after reporting Q1 adjusted EBITDA fell 2% Y/Y to $438M and production was flat while remaining on track to achieve full-year guidance. The miner said full-year guidance for production remains unchanged at 2.55M-2.8M oz, with most of the production growth expected to come from Obuasi, as well as all-in sustaining costs of $1,295-$1,425/oz and total capital spending of $1.05B-$1.15B. Q1 gold production totaled 588K oz as AISC increased 9% Y/Y to $1,401/oz, driven largely by what the company said were uncontrollable factors, such as rising inflation across several categories of input costs and higher royalties. Q1 free cash flow rose to $268M vs. an outflow of $92M in the year-earlier quarter, helped by $326M received from the Kibali mine in the Democratic Republic of Congo. AngloGold (AU) said the Obuasi mine in Ghana is on track to achieve a full mining rate of

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AngloGold's Q1 EBITDA slips, production flat but maintains full-year guidance