Extract
Ashanti Goldfields Announces Results.
NEW YORK--(BUSINESS WIRE)--Feb. 26, 1998--
PRELIMINARY RESULTS FOR THE YEAR ENDED 31 DECEMBER 1997 Pro forma 12 months 15 months 12 months to to to 31 Dec 1997 31 Dec 1996 31 Dec 1996 US$ US$ US$ Turnover 531.3m 564.0m 458.7m Operating Profit 78.9m 102.5m 81.4m Profit before tax 55.7m 81.5m 60.1m Earnings per share 0.50 0.88 0.64 Dividends per share 0.20 0.375 0.375 Gold production (ounces) 1,169,156 1,257,148 1,028,597 Cash operating costs per ounce 254 252 252 Average realized price per ounce 450 444 443 HIGHLIGHTS -- Fourth quarter earnings of US$15.9m (15 cents per share), up from US$10.5m (10 cents per share) in Q4 1996 -- Record Gold production of 307,302 ozs in Q4 1997, 16 per cent higher than Q4 1996 at a cash operating cost of US$234 per oz, 11 per cent lower than Q4 1996 -- Full year earnings of US$53.7m or 50 cents per share (1996: US$60.1m or 64 cents per share) -- First gold production at new mines at Bibiani in Ghana and Siguiri in Guinea -- Geita resources increased more than threefold to 3.4 million ounces and bankable feasibility study begun -- Group reserves increased by 5 per cent to 23 million ounces and Group measured and indicated resources increased by 10 per cent to more than 35 million ounces, in...See the full content of this document
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