Latest news with #MansalaProject
Yahoo
02-05-2025
- Business
- Yahoo
AngloGold Ashanti (NYSE:AU) Sells Cote d'Ivoire Gold Projects For US$260 Million
AngloGold Ashanti recently agreed to sell its interests in two gold projects in Côte d'Ivoire, marking a shift in its operational strategy. This decision aligns with the company's focus on enhancing its operational assets in the U.S. and developing projects like the Mansala Project in Guinea. Over the last quarter, AngloGold's share price rose 31%, a strong performance that mirrors broader market trends, with the S&P 500 experiencing a winning streak. While the company's strategic moves might have reinforced its price gain, the broader positive market sentiment likely played a significant role. We've discovered 2 warning signs for AngloGold Ashanti that you should be aware of before investing here. Find companies with promising cash flow potential yet trading below their fair value. The recently announced sale of interest in two gold projects in Côte d'Ivoire by AngloGold Ashanti suggests a focus on concentrating efforts in key regions such as the U.S. and Guinea. This strategic pivot is expected to align the company with high-value peers and potentially improve capital access. In terms of revenue and earnings, such moves might boost operational efficiency and production output, contributing to enhanced profit margins. The integration of Centamin is anticipated to unlock operational synergies, which could further support revenue and earnings growth projections. Over the past three years, AngloGold Ashanti's total shareholder return, including dividends, has reached 112.32%. This marks a significant growth period, with the company's shares showing strong performance compared to the broader U.S. market's one-year return of 9.5%. This trajectory indicates an overall robust performance in the longer term, bolstered by strategic repositioning and operational improvements. As of today, AngloGold's current share price of US$40.68 is close to the consensus analyst price target of US$43.00, indicating a 5.4% potential upside. This proximity suggests that analysts see limited immediate underpricing of the stock based on current valuations. However, the company's future earnings and revenue growth expectations, assuming successful execution of its expansion projects, might justify a reassessment of the fair value in the coming years. Explore historical data to track AngloGold Ashanti's performance over time in our past results report. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:AU. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Business Insider
01-05-2025
- Business
- Business Insider
AngloGold Ashanti agrees sale of Cote d'Ivoire projects to Resolute Mining
AngloGold Ashanti (AU) has agreed to sell its interests in two gold projects in Cote d'Ivoire to Resolute Mining (RMGGF) as it continues to sharpen its focus on its operating assets and development projects in the U.S. The company will sell Centamin West Africa, or CWAH, which owns the Doropo Project and the Archean-Birimian Contact Project in Cote d'Ivoire, to Resolute. AngloGold Ashanti acquired an indirect interest in the Projects when it acquired Centamin plc in November 2024. There are no conditions to completion of the Sale, which is scheduled to occur on 1 May. In connection with the Sale, AGA will also acquire Toro Gold, which owns the titles to the Mansala Project in Guinea, from Resolute. The Mansala Project is adjacent to AGA's Siguiri mine in Guinea and it is anticipated to be developed as a brownfields project to provide an additional ore source to AngloGold Ashanti's Siguiri operations. The acquisition is subject to several conditions which must be satisfied within 18 months from the completion of the Sale, failing which the acquisition will lapse. The value of the consideration for the sale of the Doropo Project is $175M, comprising a cash payment of $150M, plus either the acquisition of the Mansala Project or an additional amount of $25M if the acquisition cannot be completed within 18 months. The consideration for the sale of the Doropo Project is to be paid in three tranches: $25M in cash on completion of the sale; $50M in cash 18 months after completion of the Sale, plus an additional $25M if the acquisition cannot be completed within those 18 months; and $75M in cash 30 months after completion of the sale. The consideration for the sale of the ABC Project comprises a milestone payment of $10M in cash on declaration of a JORC-compliant 1.0 Moz Mineral Reserve on the current ABC Project tenements, and a 2% Net Smelter Royalty over any gold production from any Mineral Resource on the current ABC Project tenements.
National Post
30-04-2025
- Business
- National Post
AngloGold Ashanti Agrees Sale of Côte d'Ivoire Projects
Article content LONDON & DENVER & JOHANNESBURG — AngloGold Ashanti plc ('AngloGold Ashanti', 'AGA' or the 'Company') has agreed to sell its interests in two gold projects in Côte d'Ivoire to Resolute Mining Limited ('Resolute') as it continues to sharpen its focus on its operating assets and development projects in the United States. Article content Article content The Company will sell Centamin West Africa Holdings Limited ('CWAH'), which owns the Doropo Project and the Archean-Birimian Contact ('ABC') Project in Côte d'Ivoire (collectively, the 'Projects'), to Resolute, which has extensive operational experience in West Africa (the 'Sale'). The breakdown of the consideration for the Sale is detailed below. Article content AngloGold Ashanti acquired an indirect interest in the Projects when it acquired Centamin plc in November 2024. Following a Company review to determine how best to maximise value from the Projects, it was determined that the scale of the Doropo Project, as well as competition for capital with other development projects in the AngloGold Ashanti portfolio, meant it would benefit more from ownership by a company with the requisite operational focus and financial capacity to advance its development in a timely manner. Given Resolute's focus on Côte d'Ivoire, the ABC Project, an early-stage exploration project has been included as part of the Sale. Article content 'This transaction ensures we maintain our focus on disciplined capital allocation and driving efficiencies from our existing portfolio,' said AngloGold Ashanti CEO Alberto Calderon. 'It also ensures these Projects are in good hands, to benefit all stakeholders.' Article content There are no conditions to completion of the Sale, which is scheduled to occur on 1 May 2025. Article content In connection with the Sale, AGA will also acquire Toro Gold Guinée Sarlu ('TGG'), which owns the titles to the Mansala Project in Guinea, from Resolute (the 'Acquisition'). The Mansala Project is adjacent to AGA's Siguiri mine in Guinea and it is anticipated to be developed as a brownfields project to provide an additional ore source to AngloGold Ashanti's Siguiri operations. Article content The Acquisition is subject to several conditions, including the renewal of the TGG permits and the approval of the Government of Guinea. Such conditions must be satisfied within 18 months from the completion of the Sale, failing which the Acquisition will lapse. Article content The value of the consideration for the sale of the Doropo Project is US$175 million, comprising a cash payment of US$150 million, plus either (i) the acquisition of the Mansala Project or (ii) an additional amount of US$25 million if the Acquisition cannot be completed within 18 months as described above. The consideration for the sale of the Doropo Project is to be paid in three tranches as follows: Article content US$25 million in cash on completion of the Sale; US$50 million in cash 18 months after completion of the Sale, plus an additional US$25 million if the Acquisition cannot be completed within those 18 months; and US$75 million in cash 30 months after completion of the Sale. Article content The consideration for the sale of the ABC Project comprises a milestone payment of US$10 million in cash on declaration of a JORC-compliant 1.0 Moz Mineral Reserve on the current ABC Project tenements, and a 2% Net Smelter Royalty over any gold production from any Mineral Resource on the current ABC Project tenements. Article content The Doropo Project, which comprises seven exploration permits, covering an area of approximately 1,850km 2, is in the northeast of Côte d'Ivoire, approximately 480km north of Abidjan. The licence covers 13 gold deposits, 11 of which are concentrated within a 7km radius and are referred to as the Main Resource Cluster. Article content A pre-feasibility study was completed in 2023 and the definitive feasibility study ('DFS') in 2024. The Doropo Project has received regulatory approval for its Environmental and Social Impact Assessment and the environmental permit was awarded in June 2024. The application for the Mining License has been submitted to the Ivorian authorities and is pending. Article content The Doropo Project (on a 100% basis) has exclusive Measured & Indicated Mineral Resource of 0.9Moz at an average grade of 1.02g/t, Inferred Mineral Resource of 0.3Moz at an average grade of 1.23g/t and Proven & Probable Mineral Reserve of 1.9Moz at an average grade of 1.53g/t. Article content Based on the DFS, the Doropo Project, once developed, is expected to have average annual gold production of 167koz over a 10 year mine life. Article content ABOUT THE ABC PROJECT Article content The ABC Project is in northwest Côte d'Ivoire, approximately 550km northwest of Abidjan and 460km west of the Doropo Project. This is an early stage greenfield exploration project, consisting of three permits, covering an area of 1,148km 2. The ABC Project has a 1.6Moz Inferred Mineral Resource at an average grade of 0.98g/t. Article content Resolute is an African-focused gold miner with more than 30 years of experience as an explorer, developer and operator of ten gold mines which have produced more than 9.0Moz of gold. Resolute trades on the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE) under the ticker RSG. It currently owns two producing gold mines: the Syama Gold Mine in Mali and the Mako Gold Mine in Senegal. Resolute is also active in exploration with drilling campaigns underway across its African tenements with a focus on Mali, Senegal and Guinea. Article content Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production, total cash costs, all-in sustaining costs, all-in costs, cost savings and other operating results, return on equity, productivity improvements, growth prospects and outlook of AngloGold Ashanti's operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of AngloGold Ashanti's exploration and production projects and the completion of acquisitions, dispositions or joint venture transactions, AngloGold Ashanti's liquidity and capital resources and capital expenditures, the consequences of the COVID-19 pandemic and the outcome and consequences of any potential or pending litigation or regulatory proceedings or environmental, health and safety issues, are forward-looking statements regarding AngloGold Ashanti's financial reports, operations, economic performance and financial condition. These forward-looking statements or forecasts are not based on historical facts, but rather reflect our current beliefs and expectations concerning future events and generally may be identified by the use of forward-looking words, phrases and expressions such as 'believe', 'expect', 'aim', 'anticipate', 'intend', 'foresee', 'forecast', 'predict', 'project', 'estimate', 'likely', 'may', 'might', 'could', 'should', 'would', 'seek', 'plan', 'scheduled', 'possible', 'continue', 'potential', 'outlook', 'target' or other similar words, phrases, and expressions; provided that the absence thereof does not mean that a statement is not forward-looking. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements or forecasts involve known and unknown risks, uncertainties and other factors that may cause AngloGold Ashanti's actual results, performance, actions or achievements to differ materially from the anticipated results, performance, actions or achievements expressed or implied in these forward-looking statements. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements and forecasts are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results, performance, actions or achievements could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic, social, political and market conditions, including related to inflation or international conflicts, the success of business and operating initiatives, changes in the regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, any supply chain disruptions, any public health crises, pandemics or epidemics (including the COVID-19 pandemic), the failure to maintain effective internal control over financial reporting or effective disclosure controls and procedures, the inability to remediate one or more material weaknesses, or the discovery of additional material weaknesses, in the Company's internal control over financial reporting, and other business and operational risks and challenges and other factors, including mining accidents. For a discussion of such risk factors, refer to AngloGold Ashanti's annual report on Form 20-F for the financial year ended 31 December 2024 filed with the United States Securities and Exchange Commission (SEC). These factors are not necessarily all of the important factors that could cause AngloGold Ashanti's actual results, performance, actions or achievements to differ materially from those expressed in any forward-looking statements. Other unknown or unpredictable factors could also have material adverse effects on AngloGold Ashanti's future results, performance, actions or achievements. Consequently, readers are cautioned not to place undue reliance on forward-looking statements. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except to the extent required by applicable law. All subsequent written or oral forward-looking statements attributable to AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein. Article content Article content Article content Article content Article content Contacts Article content Media Article content Article content Article content
Business Wire
30-04-2025
- Business
- Business Wire
AngloGold Ashanti Agrees Sale of Côte d'Ivoire Projects
LONDON & DENVER & JOHANNESBURG--(BUSINESS WIRE)--AngloGold Ashanti plc ('AngloGold Ashanti', 'AGA' or the 'Company') has agreed to sell its interests in two gold projects in Côte d'Ivoire to Resolute Mining Limited ('Resolute') as it continues to sharpen its focus on its operating assets and development projects in the United States. The Company will sell Centamin West Africa Holdings Limited ('CWAH'), which owns the Doropo Project and the Archean-Birimian Contact ('ABC') Project in Côte d'Ivoire (collectively, the 'Projects'), to Resolute, which has extensive operational experience in West Africa (the 'Sale'). The breakdown of the consideration for the Sale is detailed below. AngloGold Ashanti acquired an indirect interest in the Projects when it acquired Centamin plc in November 2024. Following a Company review to determine how best to maximise value from the Projects, it was determined that the scale of the Doropo Project, as well as competition for capital with other development projects in the AngloGold Ashanti portfolio, meant it would benefit more from ownership by a company with the requisite operational focus and financial capacity to advance its development in a timely manner. Given Resolute's focus on Côte d'Ivoire, the ABC Project, an early-stage exploration project has been included as part of the Sale. 'This transaction ensures we maintain our focus on disciplined capital allocation and driving efficiencies from our existing portfolio,' said AngloGold Ashanti CEO Alberto Calderon. 'It also ensures these Projects are in good hands, to benefit all stakeholders.' There are no conditions to completion of the Sale, which is scheduled to occur on 1 May 2025. In connection with the Sale, AGA will also acquire Toro Gold Guinée Sarlu ('TGG'), which owns the titles to the Mansala Project in Guinea, from Resolute (the 'Acquisition'). The Mansala Project is adjacent to AGA's Siguiri mine in Guinea and it is anticipated to be developed as a brownfields project to provide an additional ore source to AngloGold Ashanti's Siguiri operations. The Acquisition is subject to several conditions, including the renewal of the TGG permits and the approval of the Government of Guinea. Such conditions must be satisfied within 18 months from the completion of the Sale, failing which the Acquisition will lapse. The value of the consideration for the sale of the Doropo Project is US$175 million, comprising a cash payment of US$150 million, plus either (i) the acquisition of the Mansala Project or (ii) an additional amount of US$25 million if the Acquisition cannot be completed within 18 months as described above. The consideration for the sale of the Doropo Project is to be paid in three tranches as follows: US$25 million in cash on completion of the Sale; US$50 million in cash 18 months after completion of the Sale, plus an additional US$25 million if the Acquisition cannot be completed within those 18 months; and US$75 million in cash 30 months after completion of the Sale. The consideration for the sale of the ABC Project comprises a milestone payment of US$10 million in cash on declaration of a JORC-compliant 1.0 Moz Mineral Reserve on the current ABC Project tenements, and a 2% Net Smelter Royalty over any gold production from any Mineral Resource on the current ABC Project tenements. ABOUT THE DOROPO PROJECT The Doropo Project, which comprises seven exploration permits, covering an area of approximately 1,850km 2, is in the northeast of Côte d'Ivoire, approximately 480km north of Abidjan. The licence covers 13 gold deposits, 11 of which are concentrated within a 7km radius and are referred to as the Main Resource Cluster. A pre-feasibility study was completed in 2023 and the definitive feasibility study ('DFS') in 2024. The Doropo Project has received regulatory approval for its Environmental and Social Impact Assessment and the environmental permit was awarded in June 2024. The application for the Mining License has been submitted to the Ivorian authorities and is pending. The Doropo Project (on a 100% basis) has exclusive Measured & Indicated Mineral Resource of 0.9Moz at an average grade of 1.02g/t, Inferred Mineral Resource of 0.3Moz at an average grade of 1.23g/t and Proven & Probable Mineral Reserve of 1.9Moz at an average grade of 1.53g/t. Based on the DFS, the Doropo Project, once developed, is expected to have average annual gold production of 167koz over a 10 year mine life. ABOUT THE ABC PROJECT The ABC Project is in northwest Côte d'Ivoire, approximately 550km northwest of Abidjan and 460km west of the Doropo Project. This is an early stage greenfield exploration project, consisting of three permits, covering an area of 1,148km 2. The ABC Project has a 1.6Moz Inferred Mineral Resource at an average grade of 0.98g/t. ABOUT RESOLUTE Resolute is an African-focused gold miner with more than 30 years of experience as an explorer, developer and operator of ten gold mines which have produced more than 9.0Moz of gold. Resolute trades on the Australian Securities Exchange (ASX) and the London Stock Exchange (LSE) under the ticker RSG. It currently owns two producing gold mines: the Syama Gold Mine in Mali and the Mako Gold Mine in Senegal. Resolute is also active in exploration with drilling campaigns underway across its African tenements with a focus on Mali, Senegal and Guinea. Forward-looking statements Certain statements contained in this document, other than statements of historical fact, including, without limitation, those concerning the economic outlook for the gold mining industry, expectations regarding gold prices, production, total cash costs, all-in sustaining costs, all-in costs, cost savings and other operating results, return on equity, productivity improvements, growth prospects and outlook of AngloGold Ashanti's operations, individually or in the aggregate, including the achievement of project milestones, commencement and completion of commercial operations of certain of AngloGold Ashanti's exploration and production projects and the completion of acquisitions, dispositions or joint venture transactions, AngloGold Ashanti's liquidity and capital resources and capital expenditures, the consequences of the COVID-19 pandemic and the outcome and consequences of any potential or pending litigation or regulatory proceedings or environmental, health and safety issues, are forward-looking statements regarding AngloGold Ashanti's financial reports, operations, economic performance and financial condition. These forward-looking statements or forecasts are not based on historical facts, but rather reflect our current beliefs and expectations concerning future events and generally may be identified by the use of forward-looking words, phrases and expressions such as 'believe', 'expect', 'aim', 'anticipate', 'intend', 'foresee', 'forecast', 'predict', 'project', 'estimate', 'likely', 'may', 'might', 'could', 'should', 'would', 'seek', 'plan', 'scheduled', 'possible', 'continue', 'potential', 'outlook', 'target' or other similar words, phrases, and expressions; provided that the absence thereof does not mean that a statement is not forward-looking. Similarly, statements that describe our objectives, plans or goals are or may be forward-looking statements. These forward-looking statements or forecasts involve known and unknown risks, uncertainties and other factors that may cause AngloGold Ashanti's actual results, performance, actions or achievements to differ materially from the anticipated results, performance, actions or achievements expressed or implied in these forward-looking statements. Although AngloGold Ashanti believes that the expectations reflected in such forward-looking statements and forecasts are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results, performance, actions or achievements could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic, social, political and market conditions, including related to inflation or international conflicts, the success of business and operating initiatives, changes in the regulatory environment and other government actions, including environmental approvals, fluctuations in gold prices and exchange rates, the outcome of pending or future litigation proceedings, any supply chain disruptions, any public health crises, pandemics or epidemics (including the COVID-19 pandemic), the failure to maintain effective internal control over financial reporting or effective disclosure controls and procedures, the inability to remediate one or more material weaknesses, or the discovery of additional material weaknesses, in the Company's internal control over financial reporting, and other business and operational risks and challenges and other factors, including mining accidents. For a discussion of such risk factors, refer to AngloGold Ashanti's annual report on Form 20-F for the financial year ended 31 December 2024 filed with the United States Securities and Exchange Commission (SEC). These factors are not necessarily all of the important factors that could cause AngloGold Ashanti's actual results, performance, actions or achievements to differ materially from those expressed in any forward-looking statements. Other unknown or unpredictable factors could also have material adverse effects on AngloGold Ashanti's future results, performance, actions or achievements. Consequently, readers are cautioned not to place undue reliance on forward-looking statements. AngloGold Ashanti undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except to the extent required by applicable law. All subsequent written or oral forward-looking statements attributable to AngloGold Ashanti or any person acting on its behalf are qualified by the cautionary statements herein. This announcement is made in accordance with the requirements of Rule 19.6(b) of the City Code on Takeovers and Mergers.
