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Gold Fields Limited (NYSE: GFI) announced its operational performance and trading statement for FY 2022. The company achieved attributable gold equivalent production of 2,399koz, reflecting a 3% YoY increase, exceeding its upgraded guidance of 2,310koz – 2,360koz. All-in costs (AIC) are projected at US$1,320/oz, slightly above FY 2021's costs, while all-in sustaining costs (AISC) stand at US$1,105/oz, also up from the previous year. Notably, headline earnings per share are expected to rise by 16% to 22% due to a US$202m break fee from Yamana. However, basic earnings per share are projected to decline by 7% to 13% due to impairments totaling US$502m.
Galiano Gold Inc. (GAU) reported the tragic fatality of two contractors at the Asanko Gold Mine in Ghana on February 6, 2023. The incident occurred near the tailings storage facility and has prompted immediate support for affected individuals. Galiano expressed condolences and announced that an investigation is underway, reinforcing its commitment to safety and Zero Harm. The Asanko Gold Mine operates as a joint venture with Gold Fields Ltd (GFI), focusing on sustainable practices and stakeholder value creation.
Galiano Gold Inc. (GAU) announced preliminary operational results for Q4 and the full year 2022 from the Asanko Gold Mine in Ghana. The company achieved gold production of 34,090 ounces in Q4 and 170,342 ounces for the full year, significantly exceeding its guidance of 100,000-120,000 ounces. Financial results include Q4 gold revenue of $57.7 million at an average price of $1,686 per ounce. The company ended the year with a cash position of $97.6 million and no debt. Safety performance was strong, recording no injuries in Q4. A new Technical Report and updated Mineral Resource estimates are expected in Q1 2023.
Gold Fields Limited (JSE: GFI, NYSE: GFI) announces the resignation of CEO Chris Griffith, effective December 31, 2022. Chairperson Yunus Suleman expressed appreciation for Griffith's leadership, especially regarding the failed Yamana Gold transaction, which the company believed could have significantly enhanced shareholder value. Despite this setback, Gold Fields maintains strong performance and commitment to its strategic goals, including asset portfolio growth.
The Gold Fields Board met on November 7, 2022, to review the Joint Offer from Pan American Silver and Agnico Eagle Mines aimed at acquiring all common shares of Yamana Gold Inc. This follows a previous press release on November 4, 2022, detailing the joint proposal from Pan American and Agnico. Gold Fields is a diversified gold producer with significant operations across multiple countries, producing approximately 2.3 million ounces of gold annually and holding substantial gold reserves and resources.
Gold Fields Limited (NYSE: GFI) announced an operational update for the quarter ending September 30, 2022. The company operates nine mines across Australia, Peru, South Africa, and West Africa, and holds a project in Chile. In total, Gold Fields boasts an annual gold-equivalent production of 2.34 million ounces, with mineral reserves of 48.6 million ounces and resources of 111.8 million ounces. Detailed financial results are available bi-annually, with reports released in June and December.
Gold Fields has received formal approval from the JSE Limited for the Gold Fields Circular, part of its proposed acquisition of Yamana Gold Inc. This follows earlier announcements regarding the acquisition, originally detailed on May 31, July 11, and October 4, 2022. The Gold Fields Circular is set to be available on their website post-market close on October 21, 2022, alongside the anticipated Yamana Circular. The acquisition aims to enhance Gold Fields' operational capacities and is advised by Merrill Lynch and J.P. Morgan, with legal counsel from prominent firms across South Africa, the U.S., and Canada.
Gold Fields Limited (NYSE: GFI) reported a profit attributable to owners of $510 million ($0.57 per share) for the six months ending June 30, 2022, up from $387 million ($0.44 per share) in the same period last year. An interim dividend of 300 SA cents per share will be payable on September 19, 2022. Gold Fields operates nine mines across several countries, with an annual gold-equivalent production of 2.24 million ounces and total mineral reserves of 52.1 million ounces.
Gold Fields Limited (GFI) reports a significant increase in headline earnings per share for H1 2022, expected to reach US$0.56-0.60, a rise of 24% to 33% compared to H1 2021. Basic earnings are anticipated between US$0.55-0.59, while normalized earnings are projected at US$0.54-0.58, reflecting a 10% to 18% improvement. Q2 2022 gold equivalent production is estimated at 621koz, up from 580koz in Q1 2022. However, All-in costs are rising, expected at US$1,382/oz for Q2 and US$1,352/oz for H1 2022, indicating an increase in operating costs due to inflation and project expenditures.
Gold Fields Limited has announced a market update regarding its proposed acquisition of all outstanding common shares of Yamana Gold Inc. This significant transaction aims to strengthen Gold Fields' position in the gold mining sector, creating a combined entity with enhanced quality and investment prospects. The acquisition is expected to leverage synergies that may improve operational efficiency and revenue growth. Gold Fields operates nine mines globally and reported annual gold-equivalent production of 2.34 million ounces, indicating a strong production capacity.
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