| Fri 4 Apr 2008, 12:16 | | ANG - Anglogold Ashanti Revises Up First Quarter Outlook |
|
ANG
ANANO
ANG - Anglogold Ashanti Revises Up First Quarter Outlook
AngloGold Ashanti Limited
Incorporated in the Republic of South Africa
Registration Number: 1944/017354/06)
ISIN Number: ZAE000043485
JSE Share Code: ANG
("AngloGold Ashanti / Company")
ANGLOGOLD ASHANTI REVISES UP FIRST QUARTER OUTLOOK
Following the stabilisation of Eskom power supply to South African operations
during the quarter, AngloGold Ashanti is forecasting first quarter production of
approximately 1.19 million ounces. The revised production outlook is around 8%
above guidance provided at the fourth quarter results presentation. The company
has also fully delivered into maturing hedge contracts during the quarter.
Commenting on the revised outlook, CEO Mark Cutifani said "Our first quarter
performance will speak to the superb job that our South African operating team,
in partnership with the unions and Eskom, has done in managing through a
difficult situation. We are successfully implementing a 4% energy saving target,
which will enable us to get back towards our 100% production objective, even
though we are working with a reduced power supply."
The company will revise guidance for 2008 with the first quarter results, which
will be released on 6 May 2008.
Johannesburg
4 April 2008
Queries
South Africa Tel: Mobile: E-mail:
Himesh Persotam +27 (0) 11 637 6647
+27 (0) 82 339 3890 hpersotam@AngloGoldAshanti.com
Alan Fine +27 (0) 11 637 6383 +27 (0) 83 250 0757 afine@AngloGoldAshanti.com
Certain statements made during this communication, including, without
limitation, those concerning the economic outlook for the gold mining industry,
expectations regarding gold prices, production, cash costs and other operating
results, growth prospects and the outlook of AngloGold Ashanti`s operations
including the completion and commencement of commercial operations of certain of
AngloGold Ashanti`s exploration and production projects, and its liquidity and
capital resources and expenditure, contain certain forward-looking statements
regarding AngloGold Ashanti`s operations, economic performance and financial
condition. Although AngloGold Ashanti believes that the expectations reflected
in such forward-looking statements are reasonable, no assurance can be given
that such expectations will prove to have been correct. Accordingly, results
could differ materially from those set out in the forward-looking statements as
a result of, among other factors, changes in economic and market conditions,
success of business and operating initiatives, changes in the regulatory
environment and other government actions, fluctuations in gold prices and
exchange rates, and business and operational risk management. For a discussion
of such factors, refer to AngloGold Ashanti`s annual report for the year ended
31 December 2007, which was distributed to shareholders on 31 March 2008.
AngloGold Ashanti undertakes no obligation to update publicly or release any
revisions to these forward-looking statements to reflect events or circumstances
after today`s date or to reflect the occurrence of unanticipated events.
In connection with the proposed merger transaction involving AngloGold Ashanti
and Golden Cycle Gold Corporation, AngloGold Ashanti has filed with the SEC a
registration statement on Form F-4 and GCGC will mail a proxy
statement/prospectus to its stockholders, and each will be filing other
documents regarding the proposed transaction with the U.S. Securities and
Exchange Commission ("SEC") as well. BEFORE MAKING ANY VOTING OR INVESTMENT
DECISION, INVESTORS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS REGARDING
THE PROPOSED TRANSACTION AND ANY OTHER RELEVANT DOCUMENTS CAREFULLY WHEN THEY
BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE
PROPOSED TRANSACTION. The final proxy statement/prospectus will be mailed to
GCGC`s stockholders. Stockholders will be able to obtain a free copy of the
proxy statement/prospectus, as well as other filings containing information
about AngloGold Ashanti and GCGC, without charge, at the SEC`s Internet site
(http://www.sec.gov). Copies of the proxy statement/prospectus and the filings
with the SEC that will be incorporated by reference in the proxy
statement/prospectus can also be obtained, without charge, by directing a
request to AngloGold Ashanti, 76 Jeppe Street, Newtown, Johannesburg, 2001 (PO
Box 62117, Marshalltown, 2107) South Africa, Attention: Investor Relations, +27
11 637 6385, or to Golden Cycle Gold Corporation, 1515 S. Tejon, Suite 201,
Colorado Springs, CO 80906, Attention: Chief Executive Officer, (719) 471-9013
ENDS
AGA04.04
4 April 2008
JSE Sponsor - UB Warburg
Date: 04/04/2008 12:16:35 Produced by the JSE SENS Department.
The SENS service is an information dissemination service administered by the
JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or
implicitly, represent, warrant or in any way guarantee the truth, accuracy or
completeness of the information published on SENS. The JSE, their officers,
employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature,
howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
