- AngloGold Ashanti released its Q1 results earlier this month, reporting quarterly gold production of 588,000 ounces at all-in sustaining costs of $1,287/oz.
- Both production and costs were up sharply in the period, with only three mines in the portfolio seeing a meaningful increase in production year-over-year.
- The good news is that AngloGold is confident in growth to ~3.4 million ounces annually by FY2025, which will improve costs following the current investment phase.
- While I believe there are better ways to play the sector than AngloGold, I would view any dips below $22.50 as low-risk buying opportunities.
For further details see:
AngloGold Ashanti: Tracking Slightly Behind FY2021 Guidance