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Online Share Trading

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SimonPB
Valued Contributor
JOHANNESBURG, May 6 (Reuters) - AngloGold Ashanti Ltd , the world's third biggest gold producer, posted 37 U.S. cents in first-quarter adjusted headline earnings per share versus 6 U.S. cents in the fourth quarter, it said on Tuesday.

Production for the quarter was at 1.2 million ounces, 9 percent higher than guidance provided in February 2008, while total cash costs came in at $430/oz, significantly below guidance, but 6 percent higher than the previous quarter following reduced production.

AngloGold also cut its hedge book -- one of the biggest among its peers -- during the quarter. Its net delta hedge reduced by 1.13 million ounces to 9.26 million ounces.
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11 REPLIES 11
SimonPB
Valued Contributor
so a gold miner finally makes some money, and the price falls ...
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john_1
Super Contributor
LOL!! Yip gold miners and gold mine investors are a special breed.
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SimonPB
Valued Contributor
haha, john, knew this would drag you out of the wood work.
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john_1
Super Contributor
Back from a nice little holiday. Ready to start making some real cash, but whats up with the forum...
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Not applicable
Why has the share dropped !?
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SimonPB
Valued Contributor
I suspect the massive rights issue to ditch the hedge book be the reason.
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john_1
Super Contributor
the question you should always be asking with a gold miner is why did it rise to start with... I guess its falling because those who are in it know that there is no way it could possibly make money 2 quaters in a row so are trying to take their profits while they can.
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stores
Super Contributor
Maybe the market does like these results and what they are doing to resolve their hedge book problem. Now above yesterdays closing. New management has made in roads into safety and the power issue. Its current valuation is the lowest amongst the gold miners and in my opinion will reach R300 in the next couple of weeks.
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stores
Super Contributor
Moved today from a poor opening of +-R249 to R287 at 16h30. +8.7% for the day is not to shabby at all.
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Not applicable
angdbm was even better.....not too shabby at all:-)))
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Tom168
Frequent Contributor
i went long for 50 contracts at 24800 and sold it at 28800...yippy yay yay
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