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AngloGold Ashanti quarterly results

And then there were results from AngloGold Ashanti. Quarterly results, this for the third quarter to end September. First surprise is that the company has moved to a quarterly dividend payout, in line with the distributions of many bigger listed companies internationally. Before you get too excited, 90 ZA cents per quarter. 360 ZA cents a year. But these results were far ahead of consensus, 100 US cents worth of earnings were expected, the actual number came in at 118 cents per share, that was a jump of 34 percent from the last quarter. Production was a little lower than guidance, 1.092 million ounces for the quarter, but cash costs were slightly lower than the guidance. Costs higher versus the last quarter, by nearly five percent, and production slightly higher, just a touch. Yes, well, maybe, no. The stock looks cheap, even if they maintain this current quarterly run rate. But there are other stocks in the commodity space, majors like BHP Billiton and Anglo American that are more diversified, better dividend payers and cheaper. And for the life of me, I cannot work out the fundamentals for the gold price. When in doubt and you do not understand something, don't make the investment.


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