Ashanti Goldfields on sound footing, Jonah says
The past year was challenging for all gold companies, but Ashanti Goldfields (ASL-N) had the added task of rebuilding after a failed hedging program splashed red ink over its balance sheet in the fall…
Ashanti Goldfields Company Limited
Ashanti ups output in West Africa
Denver — Ashanti Goldfields (ASL-N) has posted record gold production and improved operating costs for the fourth quarter.Production topped 1.7 million oz. gold in 2000, up from 1.6 million oz. in 19…
Gold shines through auction
Denver — The Dow Jones industrial average was quiet during the report period ended Jan. 23, moving down 9.85 points, or 0.1%, to 10,649.81, while spot gold perked up to US$266.10 on the Comex divisio…
Rate cut can’t stop slide
Denver — The sudden interest rate cut by the U.S. Federal Reserve put a charge into the market on Jan. 3, only to see record-setting gains evaporate. The market finished the report period ended Jan. …
Low commodity prices, high costs cast pall over 2000
Vancouver — The brutal combination of high costs and weak commodity prices translated into more mine closures than openings in the past year. Several companies were forced to suspend mining and devel…
Pangea poised for success in Tanzania
Recognizing the potential of the Tanzanian Lake Victoria goldfields of East Africa early on, Pangea Goldfields (PGD-T) began acquiring properties there in the early 1990s. It now boasts a portfolio of…
Writedowns push Ashanti into red
Writedowns in the fourth quarter of 1999 wiped out any earnings for Ashanti Goldfields (ASL-N).During the 3-month period, writedowns totalled US$233.1 million (or $2.08 per share). Before these writed…
Gold benefits from recent market whipsaw
The Dow Jones industrial average climbed 228.73 points to finish the report period ended April 4 at 11,164.84, despite wild fluctuations on the last trading day. It plunged as much as 500 points durin…
AngloGold buys stakes in Geita, Morila
For US$205 million in cash and help in obtaining project financing, AngloGold (au-n) has struck a preliminary deal to buy a 50% interest in Ashanti Goldfields’ (ASL-N) Geita gold project in Tanzania.T…
Rocky Dow leaves gold cold
The Dow Jones industrial average gained 15.21 points, or 0.15%, during the report period ended March 14 to close at 9,811.24 in turbulent trading.The uncertainty in the broader market had little effec…
Asquith, Axmin cut gold zones in CAR
Drilling by Asquith Resources (ASQH-C) and privately held exploration company Axmin has intersected gold mineralization at the former’s Roandji property in the Central African Republic.The drilling, w…
Dow posts heavy losses
The Dow Industrials got pummeled during the report period ended March 7, falling 332.28 points, or 3.3%, to 9,796.03. It was the second time in two weeks the Dow had dipped below the 10,000 mark, as t…