ABG Breakout Today
African Barrick Gold (ABG) rose 23p (11.5%) today and in doing so, broke through the resistance line at 212p (see the Sharescope Graph below)...
Key Metrics
The Key Metrics also show the low price-to-Tangible Book Value (PTBV) and modest PSR (1.36), see below:
Newsflow:
The recent newsflow has been positive, in particular the news released on 21st January, the key highlights being replicated below:
Highlights
- Fourth quarter gold production of 165,374 ounces and sales of 168,177 ounces
- Preliminary fourth quarter all-in sustaining cost of US$1,171 per ounce sold, down 30% on Q4 2012 and 8% on Q3 2013
- Preliminary fourth quarter cash costs of US$774 per ounce sold, 19% lower than Q4 2012
- Full year 2013 production of 641,931 ounces with full year sales of 649,742 ounces, 7% above the upper end of 2013 production guidance of 540,000 - 600,000 ounces
- Cash balance of approximately US$282 million as at 31 December 2013
- The average realised price of US$1,251 per ounce over the quarter and US$1,379 per ounce for the full year were 26% and 17% respectively lower than the prior year
You may remember that we previously posted (Gold in this Balance Sheet?) about ABG on 13th August 2013, when the price was £1.495. You'll find that post, on the DIY-Investors website Here, if you want to refresh your memory.
I believe that African Barrick Gold could be a real nugget (groan!!!) for DIY-Investors in 2014. What do you think?
Mick (23rd January 2014)
