Research analysts who have asked questions during AngloGold Ashanti earnings calls.
AH
Adrian Hammond
SBG Securities
6 questions for AU
Also covers: GFI, HMY, SBSW +1 more
TJ
Tanya Jakusconek
Scotiabank
6 questions for AU
Also covers: AEM, BVN, EGO +11 more
Christopher Nicholson
RMB Morgan Stanley
4 questions for AU
Also covers: BCLI
Raj Ray
BMO Capital Markets
4 questions for AU
Also covers: CGAU, GAU, NG +1 more
AD
Adrian Day
Adrian Day Asset Management
3 questions for AU
Also covers: FSM, OR, PAAS
Leroy Mnguni
HSBC
3 questions for AU
Also covers: HMY
JR
Joseph Rieger
Roth Capital Partners
2 questions for AU
JW
Josh Wolfson
RBC
2 questions for AU
Also covers: RGLD
MC
Martin Creamer
MiningWeekly
2 questions for AU
PJ
Patrick Jones
Retail Investor
2 questions for AU
Also covers: GFI
RH
René Hochreiter
NOAH Capital
2 questions for AU
Also covers: GFI, HMY
HK
Herbert Kharivhe
Investec
1 question for AU
Also covers: SSL
HK
Herbert Kuria
Absa
1 question for AU
IA
Investec Analyst
Investec
1 question for AU
JW
Joshua Wolfson
RBC Capital Markets
1 question for AU
Also covers: AEM, CDE, FNV +8 more
LC
Larry Claasen
REDD Intelligence
1 question for AU
LC
Larry Clarkson
Red Cloud Securities
1 question for AU
NW
Name Withheld
Investec
1 question for AU
Yaameen Gosain
Laurium Capital
1 question for AU
YG
Yamin Gossin
Lorium Capital
1 question for AU
Recent press releases and 8-K filings for AU.
AngloGold Ashanti Reports Record 2025 Financial Results and Major Project Development
AU
Earnings
Dividends
New Projects/Investments
- AngloGold Ashanti reported record financial results for Q4 and full year 2025, with full-year free cash flow reaching $2.9 billion, a nearly threefold increase from 2024, and Adjusted EBITDA growing 129% to $6.3 billion.
- The company's balance sheet transformed from $567 million of net debt at the end of 2024 to $879 million of net cash at the end of 2025, enabling record dividend payments totaling almost $2 billion for 2025.
- Gold production increased 16% year-on-year to 3.1 million ounces in 2025, driven by strong performance from managed operations, including a 20% increase from Obuasi.
- The Arthur Gold Project in Nevada saw an initial probable Mineral Reserve declaration of 4.9 million ounces, with an estimated initial project capital of $3.6 billion and expected average production of 500,000 ounces annually over a nine-year mine life.
8 days ago
AngloGold Ashanti Reports Record Q4 and Full-Year 2025 Financial Performance and Provides 2026 Guidance
AU
Earnings
Dividends
New Projects/Investments
- AngloGold Ashanti reported record free cash flow of $2.9 billion for the full year 2025, nearly three times the 2024 figure, and a record $1 billion in Q4 2025 alone.
- The company transformed its balance sheet, moving from $567 million of net debt at the end of 2024 to $879 million of net cash at the end of 2025.
- A Q4 2025 dividend of $875 million or $1.73 per share was declared, contributing to a total of $1.8 billion or $3.57 per share in dividends for 2025, reflecting a commitment to return value to shareholders.
- For 2026, the company guides group gold production between 2.8-3.17 million ounces and total cash costs for managed operations between $1,335-$1,455 an ounce.
- The Merlin project, a defining asset, has an initial probable Mineral Reserve of 4.9 million ounces and is estimated to produce approximately 4.5 million ounces over an initial 9-year life of mine, with initial project capital around $3.6 billion.
8 days ago
AngloGold Ashanti Reports Record 2025 Financials, Strong Production Growth, and Details Arthur Gold Project
AU
Earnings
Dividends
New Projects/Investments
- AngloGold Ashanti reported record free cash flow of $2.9 billion for 2025, nearly tripling the 2024 figure, and achieved a net cash position of $879 million by year-end, a significant turnaround from $567 million of net debt in 2024. Adjusted EBITDA grew 129% to $6.3 billion, and basic earnings reached $2.6 billion.
- The company declared a Q4 2025 dividend of $875 million, contributing to a total payout of almost $2 billion (or $3.57 per share) for 2025, consistent with its policy of quarterly payouts of $0.125 per share and an annual true-up to 50% of free cash flow.
- Gold production increased 16% year-on-year to 3.1 million ounces in 2025, with managed operations contributing 2.8 million ounces, driven by the full-year consolidation of Sukari and a 20% increase from Obuasi.
- The Arthur Gold Project in Nevada has an initial probable Mineral Reserve of 4.9 million ounces, with an expected production of approximately 4.5 million ounces over an initial 9-year mine life, averaging around 500,000 ounces annually. Initial project capital is estimated at $3.6 billion.
- For 2026, the company guides group gold production between 2.8-3.17 million ounces and estimates total cash costs for managed operations to be between $1,335-$1,455 an ounce.
8 days ago
AngloGold Ashanti Reports Record 2025 Financial Performance and Provides 2026-2027 Guidance
AU
Earnings
Dividends
Guidance Update
- AngloGold Ashanti achieved record financial performance in 2025, with Free Cash Flow increasing 204% to $2.9bn , Adjusted EBITDA up 129% to $6.3bn , and Headline Earnings rising 186% to $2.7bn.
- The company reported Group gold production of 3,091 koz in 2025, a 16% increase from 2,661 koz in 2024.
- A record dividend declaration was made in Q4 2025, supported by strong cash generation. The total dividend declared for 2025 was $1,804m.
- Mineral Reserve additions for 2025 were 10.0 Moz , and the company made a first-time Mineral Reserve declaration at the Arthur Gold Project in Nevada.
- For 2026, AngloGold Ashanti forecasts Group gold production between 2,800-3,170 koz and Group All-in sustaining costs between $1,780-1,990/oz.
8 days ago
AngloGold Ashanti Reports Record 2025 Financial Results and Increased Gold Production
AU
Earnings
Dividends
Guidance Update
- AngloGold Ashanti reported record free cash flow of $2.9bn and Adjusted EBITDA of $6.3bn for 2025, tripling and more than doubling, respectively, compared to the previous year.
- Gold production increased 16% year-on-year to 3.1Moz in 2025, with the average gold price received per ounce rising 45% to $3,468/oz.
- The company declared total dividends of $1.8bn (357 US cents per share) for 2025 and achieved an Adjusted net cash position of $879m at year-end, reversing from net debt in 2024.
- Total Group gold Mineral Reserve grew 17% to 36.5Moz at 31 December 2025, and the 2026 gold production is forecast to range between 2.80Moz and 3.17Moz.
Feb 20, 2026, 11:10 AM
AngloGold Ashanti PLC Reports Q4 and Full-Year 2025 Operating Statistics
AU
Earnings
M&A
- AngloGold Ashanti PLC reported a Group gold production of 799 thousand ounces for Q4 2025, an increase from 750 thousand ounces in Q4 2024, and 3,091 thousand ounces for the full year 2025, up from 2,661 thousand ounces in 2024.
- Group gold sold also increased to 803 thousand ounces in Q4 2025 from 725 thousand ounces in Q4 2024, and to 3,105 thousand ounces for the full year 2025 from 2,679 thousand ounces in 2024.
- Total cash costs for the Group were $1,033 million in Q4 2025 and $3,839 million for the full year 2025, while all-in sustaining costs amounted to $1,450 million in Q4 2025 and $5,307 million for the full year 2025.
- The company's sustaining capital expenditure for the Group was $350 million in Q4 2025 and $1,141 million for the full year 2025.
- These operating statistics include the Sukari operation, which was acquired on November 22, 2024, as part of the Centamin acquisition.
Feb 20, 2026, 11:04 AM
AngloGold Ashanti Reports Record 2025 Financial Results with Triple Free Cash Flow and Increased Dividends
AU
Earnings
Dividends
New Projects/Investments
- AngloGold Ashanti plc delivered record free cash flow of $2.9bn in 2025, a 204% increase from $1.0bn in 2024, and Adjusted EBITDA more than doubled to $6.3bn from $2.7bn in 2024.
- Gold production increased by 16% to 3.1Moz in 2025 from 2.7Moz in 2024, driven by improved operational performance and the first full-year contribution from Sukari, alongside a 45% rise in the average gold price received per ounce to $3,468/oz.
- The company declared total dividends of $1.8bn, or 357 US cents per share, for 2025, including an interim dividend of $875m (173 US cents per share) for Q4 2025.
- AngloGold Ashanti ended 2025 with a strong balance sheet, achieving an Adjusted net cash position of $879m at 31 December 2025, a significant improvement from an Adjusted net debt of $567m at the end of 2024.
- Total Group gold Mineral Reserve increased by 17% to 36.5Moz at 31 December 2025, up from 31.2Moz at 31 December 2024.
Feb 20, 2026, 11:04 AM
Inflection Resources Intercepts High-Grade Gold and Plans Further Drilling
AU
New Projects/Investments
- Inflection Resources Ltd. announced the discovery of high-grade gold in drill hole TRNDH032, which returned 3.0 metres grading 7.72 g/t gold from skarn-style alteration in a new target area within the Trangie district, New South Wales, Australia.
- This discovery was made under an Exploration Agreement with AngloGold Ashanti Australia Limited.
- An expanded drill program of eighty-three air-core drill holes is planned to commence in February on the Trangie project to follow-up on the recent intercept and earlier porphyry gold-copper mineralisation.
- Under the earn-in agreement, AngloGold Ashanti can acquire an initial 51% interest in four designated projects by sole funding AUD$7,000,000 on each project within 36 months.
Jan 19, 2026, 11:25 AM
News Commentary on Gold Developers Capitalizing on Market Conditions
AU
New Projects/Investments
Guidance Update
Revenue Acceleration/Inflection
- The gold mining industry is experiencing a "once-in-a-generation window" to build mines, with 97% of gold producers operating with positive margins due to gold prices exceeding $4,400 per ounce against average all-in sustaining costs of $1,600 per ounce.
- Lake Victoria Gold is advancing its Tembo Project with high-grade gold mineralization and is finalizing a processing agreement by early 2026.
- i-80 Gold Corp. plans a $412 million refurbishment of its Lone Tree Plant, anticipated to be commissioned by the end of 2027, aiming to increase margins by $1,000 to $1,500 per ounce.
- McEwen Inc. received approval for its El Gallo Mine extension, with Phase 1 construction starting mid-2026 and first gold pour targeted for mid-2027, requiring $25 million in remaining capital.
- Lundin Gold Inc. issued 2026 guidance for its Fruta del Norte mine, targeting 475,000 to 525,000 ounces of gold production at all-in sustaining costs of $1,110 to $1,170 per ounce, and G2 Goldfields Inc. released a PEA for its Oko Gold Project projecting 281,000 ounces annually over 14 years with $1,137 per ounce AISC.
Dec 31, 2025, 12:19 PM
AngloGold Ashanti PLC Reports Q3 2025 Operating Statistics
AU
Earnings
M&A
- AngloGold Ashanti PLC reported group gold production of 768 thousand ounces in Q3 2025, an increase from 657 thousand ounces in Q3 2024. For the nine months ended September 2025, production was 2,292 thousand ounces, up from 1,911 thousand ounces in the prior year period.
- Gold sold by the group also increased, reaching 764 thousand ounces in Q3 2025 compared to 667 thousand ounces in Q3 2024. Year-to-date, gold sold was 2,302 thousand ounces for the nine months ended September 2025, up from 1,954 thousand ounces in the same period of 2024.
- Total cash costs for the group rose to $940 million in Q3 2025 from $769 million in Q3 2024, and all-in sustaining costs increased to $1,314 million in Q3 2025 from $1,078 million in Q3 2024.
- Sustaining capital expenditure for the group was $281 million in Q3 2025, compared to $227 million in Q3 2024.
- The operating statistics for 2025 include the Sukari operation, which was acquired on November 22, 2024, as part of the Centamin acquisition.
Nov 12, 2025, 11:04 AM
Quarterly earnings call transcripts for AngloGold Ashanti.
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