Gold Fields: Production stable in the first quarter
18.04.2012/2012/XNUMX Johannesburg - Unlike AngloGold Ashanti and Harmony Gold, which suffered production losses in the first quarter of XNUMX, the South African gold producer Gold Fields looks like this. After all, the company was able to keep its gold output stable in the first quarter.
As the South Africans said, gold production during the period was 827.000 troy ounces of gold equivalent. The output was thus about the same flow rate as a year before. The group produced 830.000 troy ounces of gold equivalent in the same period last year.
Meanwhile, only three-digit funding costs
The fall in cash costs of 875 dollars per troy ounce of South African gold was certainly helpful. Because in the home country of the group four-digit production costs are, so to speak, on the agenda. As a result, the company's efforts to acquire deposits outside of South Africa seem to be bearing their first fruits and significantly improving the competitiveness of Gold Fields.
Although Gold Fields' paper is not a growth asset. However, due to the changed company strategy, the share is at least an acceptable standard investment in the gold segment. As a result, investors who expect relatively stable or even rising gold prices may be able to think ahead.
(Www.emfis.com)
