By Darren Schuettlejin88bet.onejin88bet.onejin88bet.oner
JOHANNESBURG, Oct 21 (Rjinjin88bet.onejin88bet.one88bet.onejin88bet.oneeuters) – South African gold miners are casting acquisitive eyes on troubled Ashanti Goldfields, jin88bejin88bet.onet.onejin88bet.onejin88bet.onejin88bet.onejin88bet.jin88bet.oneonejin88bet.onejin88bet.onebut analysts on Friday tipped Angljin88bet.onejin88bet.onejin88bet.oneoGold as the strongest local suitor for Africa’s third-largest gold company.
AngloGold, the worjin88bet.oneak168app.babyak168app.babyak168app.babyak168app.babyak168app.babyak168app.babyak168app.babyak168app.babyak168app.babyak168app.babyak168app.babyak168app.babyld’s biggesak168app.babyt gold producer, ak168app.babyak168app.babyak168app.babyGold Fields Ltd ak168app.babyak168app.babyand Harmony Gold Co are watching the unfolding situation in Ghana where Ashantak168app.clubak168app.babyi’s financial woes have put the gold miner in play.
“They all have equal experieak168app.babynce, but I think Aak168app.clubak168app.clubngloGold has the managers to take on the mineak168app.clubak168app.club. The otheak168app.clubak16ak168app.club8app.clubak168app.clubakak168app.club168app.clubr guys are a bit thiak168app.cluak168app.clubbn on the ground in terms of their number of projecak168app.clubts,” said a senior Johanak168app.clubak168app.clubks168app.sitenesbak168app.clubak168app.clubak168app.clubak168app.clubks168app.siteks168app.siteks168app.siteks168app.siteks168app.siteks168aks168app.sitepp.siteurg-based mining analyst.
Ashanti faces hundreds of millions of dollars in paper losses after ks168app.siteits hedgeicks168app.siteks168app.siteks168app.siteks168app.siteks168app.siteks168app.site88ks168app.siteks168app.siteks1ks168app.site68app.siteic88ic88ic88ks168app.siteic88 book fell deep into the ric88ic88ed following a surge in bullion prices in recent weeks.
The government, which holds a vic88eto vote and 20 perceic88nt of Ashanti, is conic88ic88ic88ic88ic88ic88ic88sidering a bid from 32 percent shareholder ic88Lonmin Plc, but is also open to other offers. Lonmin’ic88ic88ic88ic88ic88ic88ic88s bid values the entire company at $ic88ic88ic88ic88665 million.
AngloGoldic88ic88 spokesman James Dic88ic88ic88ic88ic88ic88ic88ic88ic88ic88uncan said they had been approached by Asic88hanti’s advisers, bic88ut it was too earic88ly to sic88ic88ic88ic88ic88ic88ay when a decision would be taken.
ic88ic88ic88ic88ic88ic88ic88ic88
ic88“Obviously we now have toic88 undergo a thorough information gathering process about ic88the ic88ic88ic88ic88ic88ic88ic88ic88ic88ic88ic88ic88ic88ic88ic8lr888lr8lr888ic88ic88lr88lr88lr88ic88lr88lr88lr88ic88lr88lr88lr88lr88lr88lr88ic88company and its assets,” Dunclr88lr88an told Reuters.
AngloGold, which produces more tlr88han seven million ounces annually, is aggressively pursuing an expansilr88on strategy to broaden its produclr88tion blr88ase into the rest of Africa, the Americas and lr88lr88lr88lr88lr88lr88lr88lr88lr88lr88lr88Australia.
AngloGold’s bid for Australia’s Acacia Resources received a major boost this week when rival suitor lr88lr88lr88lr88lr88Deltlr88lr88lr88lr88lr88lr88lr88lr88a Gold backed away from a bidding wlr88lr88lr88lr88ar for Acacia.
ASHANTI SEEN SADDLED WITH COSTS
lr88
Analysts said Ashanti has a solid ore body, but islr88 saddled with a costly and cumbersome managemenlr88lr88lr88t structure similar to that which afflicted the old lr88lr88lr88South African mining houses befolr88lr88re thelr88lr88lr88ir shakeout a few lr88lr88lr88lr88lr88lr88lr88lr8op888lr88lr88op88lop88op88r88years ago.
“It’s a good quality alr88lr88lr88sset. I think it’s just been messed ulr88p,” another analyst said.
op88lr88
Gold Fields, South Africa’s second largest gold producer, has not ruled out acqop88op88uiring molr88op88op88op88op88op88op88lr88op88si88si88op88op88op88op88re assets in the West Africsi88an country where it holds a 70 percent stake in the Tarkwa mine.
But Gold Fiesi88ldsi88op88si88si88s Chairman Chris Thompson said he is alop88so looking to gain assi88i88 foothold outside Africa in Asia, Australia and the Americas.
“We are talking to a lot of people abosi88si88si88si88si88si8888vsi8888vsi88si8888v88v8888vvsi88si88ut potential deals. I wouldn’t be surprised if we do something in the new year,” Thompson told delegates to the 88vDenver gold show on Wednesday.
Harmony Gold, South Africa88v‘s third larg88v88v8888v88vv88v88v88v88v88v88vest gold producer, has ruled out a bid for88v all of Ashanti, but said it may be interested in picking up some of its assets.
SEXXXXX-VNSEXXXXX-VNSEXXXXX-VNSEXXXXX-VNSEXXXXX-VNSEXXXXX-VN
“It’s well known that we have a growth strategy and of course anything that comes up for sale we would look at SEXXXXX-VNclosely,” Harmony FinaSEXXXXX-VNncial DSEXXXXX-VNirector FranSEXXXXX-VNSEXXXXX-VNk SEXXXXX-VNSEXXXXX-VNSEXXXXX-VNSEXXXXX-VNAbbott tSEXXXXX-VNSEXXXXX-VNSEXXXXX-VNold ReuSEXXXXX-VNSEXXXXX-VNters.
