Anglogold Ashant Stock Price, News & Analysis

AngloGold Ashanti (NYSE: AU) reports that Executive Officer Alberto Calderon has received 54,970 ordinary shares at nil cost under the 2023 Deferred Share Plans (DSP). Subsequently, Calderon sold 25,286 shares at an average price of US$24.22 per share, generating approximately US$612,442, to cover tax liabilities related to the DSP awards. The transactions occurred on November 12, 2024, with the share sale executed through multiple transactions at prices ranging from US$24.2204 to US$24.2207.

AngloGold Ashanti reported strong Q3 2024 performance with a 339% year-on-year increase in Adjusted EBITDA to $746m and free cash flow rising to $347m from $20m. Gold production from managed operations reached 586,000oz, up 2% year-on-year, marking the strongest production quarter of 2024. Total cash costs for managed operations rose only 3% to $1,186/oz despite inflationary pressures.

The company saw improved production at several operations, including Obuasi (+15%), Siguiri (+9%), and Tropicana (+14%). The average gold price received increased 28% to $2,449/oz. The company reaffirmed its full-year guidance for production, costs, and capital expenditure. Additionally, Centamin shareholders approved AngloGold's acquisition of the company, which includes the Tier One Sukari mine in Egypt.

Gold Fields and AngloGold Ashanti provided an update on their proposed joint venture between Gold Fields' Tarkwa Mine and AngloGold Ashanti's Iduapriem Mine in Ghana. Despite constructive engagement since March 2023, the required approvals from the Government of Ghana, including parliamentary approval, have not yet been obtained. The companies aimed to secure approvals before the October 2024 Parliamentary recess ahead of Ghana's December 2024 elections. Both parties maintain that combining the neighboring mines would be beneficial, potentially extending mine life, increasing production, and lowering costs. In the absence of approvals and clear timelines, both companies will continue separate operations while remaining open to future collaboration.

AngloGold Ashanti plc has announced the resignation of Scott Lawson as an independent non-executive director, effective 15 October 2024. The company acknowledged Mr. Lawson's significant industry experience and important contributions during his tenure. The Board expressed its sincere thanks and best wishes for his future endeavors.

The press release clarified that no additional remuneration or payment for loss of office would be made to Mr. Lawson beyond fees accrued up to his departure date. This management change highlights a shift in the company's board composition, potentially impacting its governance structure.

AngloGold Ashanti plc (NYSE: AU; JSE: ANG) has announced a securities transaction involving Executive Officer Marcelo Cheuiche Godoy. On September 13, 2024, Godoy received 35,717 ordinary shares as part of the 2023 Deferred Share Plan (DSP). This off-market transaction was at no cost to Godoy. Subsequently, to cover tax liabilities related to the DSP awards, Godoy sold 13,717 shares on the market at a weighted average price of US$28.49271 per share, resulting in a transaction value of US$390,834.42. The sale was executed through multiple transactions with prices ranging from US$28.4923 to US$28.4963 per share.

AngloGold Ashanti plc (AU) has granted conditional share awards to its executive directors and officers under two plans: the Deferred Share Plan (DSP) and the 2024 Omnibus Incentive Compensation Plan. This move is part of a transition from the backward-looking DSP to a forward-looking long-term incentive plan. The awards were granted on 27 August 2024, marking a significant change in the company's executive compensation structure. This transition aims to align executive incentives with future company performance and shareholder interests.

AngloGold Ashanti reported a robust first-half performance for 2024, marked by a 2% increase in gold production to 1.25Moz and a 1% decrease in total cash costs per ounce to $1,158. The company's adjusted EBITDA surged 65% year-on-year to $1.118bn. Free cash flow turned positive, reaching $206m compared to a $205m outflow last year. The interim dividend was hiked by 450% year-on-year to 22 cents per share. Despite a 2% rise in all-in sustaining costs per ounce to $1,589, the strong operational performance and higher gold prices bolstered financial results. A turnaround in the Americas contributed significantly, with gold production up 10% and total cash costs down 18% year-on-year in that region. The company maintained its FY2024 guidance, anticipating further improvements in the second half.

AngloGold Ashanti plc (AU) has announced its upcoming H1 2024 and Q2 2024 results conference call, scheduled for Tuesday, August 6, 2024. The market call will be accessible via webcast and conference call at 08:00 ET / 13:00 UK / 14:00 SAST.

Participants are required to pre-register for the conference call. A webcast link has been provided for those who prefer that option. Additionally, replay access numbers for various countries have been shared, with the replay facility available for three days after the call until August 9, 2024.

AngloGold Ashanti plc (AU) has appointed two new independent non-executive directors, Bruce Cleaver and Nicky Newton-King, effective July 22, 2024. Cleaver, former CEO of De Beers Group, will join the Audit and Risk Committee and the Social, Ethics and Sustainability Committee. Newton-King, former CEO of the JSE, will serve on the Compensation and Human Resources Committee and the Social, Ethics and Sustainability Committee.

Both appointees bring extensive experience in leadership, capital markets, and strategic business development. Cleaver's background includes mining and commercial expertise, while Newton-King offers legal, regulatory, and sustainability knowledge. AngloGold Ashanti's Chairperson, Jochen Tilk, expressed confidence that their diverse perspectives will contribute to creating value for shareholders.