On Monday, Shares of AngloGold Ashanti Limited (ADR) (NYSE:AU), gained 0.57% to $7.10.
AngloGold Ashanti, delivered another solid operating and financial performance for the third quarter, with production and costs both better than guidance, a marked reduction in debt levels, and strong cash flows despite a 12% decrease in the gold price year-on-year.
“These results show relentless cost discipline and continued delivery on our planned commitments,” Srinivasan Venkatakrishnan, Chief Executive Officer of AngloGold Ashanti, said. “We’ve used self-assist steps to significantly lower debt and interest, which will improve our cash-flow generation capacity.”
AngloGold Ashanti has responded decisively to a sharp drop in gold prices in recent years, slashing overhead expenditure by two thirds, introducing two new, low-cost mines, cutting debt significantly to assist withstand market volatility and, most recently, by selling its Cripple Creek & Victor (CC&V) mine and deploying the proceeds to reduce its interest bill by more than a quarter. The Company has also reached conditional agreement to partner with Randgold Resources Limited to redevelop the Obuasi gold mine in Ghana as a mechanized, productive long-life operation.
Production was 974,000oz at a total cash cost of $735/oz in the three months through 30 September 2015, contrast with 1.128Moz at $820/oz in the third quarter of last year. The result contrast with guidance of 900,000oz to 950,000oz at a total cash cost of $770-$820/oz. The operating performance was assisted by especially strong showings from the company’s mines in South America, the Geita operation in Tanzania, and Tropicana in Australia. The cost improvement was due to the P500 cost-saving initiative, which continues to show particular benefit across AngloGold Ashanti’s international mines, and also lower oil prices and weaker currencies in South Africa, South America and Australia.
AngloGold Ashanti Limited operates as a gold mining and exploration company. It also produces silver, uranium oxide, copper, molybdenum, and sulphur. The company has 20 operations and exploration projects in South Africa, Continental Africa, Australasia, and the Americas. AngloGold Ashanti Limited was founded in 1944 and is headquartered in Johannesburg, South Africa.
Shares of Caterpillar Inc. (NYSE:CAT), declined -2.64% to $71.89, during its last trading session.
Caterpillar Inc. (CAT) Group President of Energy & Transportation Jim Umpleby and Director of Investor Relations Rich Moore will speak at the Baird 2015 Industrial Conference on Wednesday, November 11. They are planned to speak at 11 a.m. Central Time.
Caterpillar Inc. manufactures and sells construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives worldwide. The company’s Construction Industries segment offers backhoe, small wheel, skid steer, multi-terrain, compact track, medium and compact wheel, and track-type loaders; mini, wheel, and track excavators; track-type tractors; and select work tools, motor graders, telehandlers, soil compactors, and pipelayers, in addition to its related parts for the heavy and general construction, rental, mining and quarry, and aggregates markets.
Finally, Shares of Relypsa Inc (NASDAQ:RLYP), ended its last trade with 5.46% gain, and closed at $19.90.
Relypsa, declared that on November 2, 2015, the compensation committee of the company’s board of directors granted forty-five new employees options to purchase an aggregate of 91,000 shares of the company’s common stock with a per share exercise price of $17.66, the closing trading price on the grant date, and 45,500 restricted stock units. The stock options and restricted stock units were granted following the Relypsa, Inc. 2014 Employment Commencement Incentive Plan, which was approved by the company’s board of directors in June 2014 under Rule 5635(c)(4) of the Nasdaq Global Select Market for equity grants to induce new employees to enter into employment with the company.
Relypsa, Inc., a biopharmaceutical company, focuses on the development and commercialization of non-absorbed polymeric drugs to treat disorders in the areas of renal, cardiovascular, and metabolic diseases in the United States.