Email Update

By Intelligent Investor · 9 Jun 2000

By Intelligent Investor ·
9 Jun 2000

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AngloGold Ashanti Limited - AGG

Current price

$6.51 at 16:35 (28 June 2023)

Price at review

$67.40 at (09 June 2000)

All Prices are in AUD ($)

Anglogold has bought 50% of a gold project, called Geita, currently under development in Tanzania from Ashanti Gold Mines, Ghana's number one gold producer (www.ashantigold.com). The purchase price was US$205m. The Geita Gold Mine is currently being commissioned and achieved its first gold pour earlier this month, three months ahead of schedule. At full production the mine will produce half a million ounces at a very cheap US$180 an ounce. The recent troubles in Zimbabwe have put the brakes on Anglogold's recent share price revival, but thankfully the company has no gold interests in that country, and Tanzania is a stable country by African standards. Continue to ACCUMULATE, as we suggested in issue 53 (Accumulate - $68.50).

IMPORTANT: Intelligent Investor is published by InvestSMART Financial Services Pty Limited AFSL 226435 (Licensee). Information is general financial product advice. You should consider your own personal objectives, financial situation and needs before making any investment decision and review the Product Disclosure Statement. InvestSMART Funds Management Limited (RE) is the responsible entity of various managed investment schemes and is a related party of the Licensee. The RE may own, buy or sell the shares suggested in this article simultaneous with, or following the release of this article. Any such transaction could affect the price of the share. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance.

Email Update

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