Full Year 2012 Highlights
ABG reports net earnings of US$59 million (US14.5 cents per share), including one-off adjustments of US$46 million, primarily due to impairment charges related to Tulawaka which, after a long and successful run, is coming to a close in 2013. Adjusted net earnings2 were US$105 million (US25.7 cents per share) and operational cash flow was US$258 million.
Other significant highlights include:
Gold production1 of 626,212 ounces and Cash costs2 of US$949 per ounce sold,
were within recent guidance
Revenue of US$1,087 million and EBITDA2 of US$331 million
Continued progress on the CIL Expansion and Upper East Acceleration, our key expansion projects at Bulyanhulu
Renewal of the North Mara Special Mining Licences on the existing terms and conditions for a 15 year period
Highly prospective exploration package of 2,800km2 acquired in Kenya for an initial consideration of US$22 million
Operational Review initiated to drive improved returns and free cash flow generation from the existing asset base
Net cash position of US$401 million as at 31 December 2012
Proposed final dividend of US12.3 cents per share; total dividend for 2012 of US16.3 cents per share
Final Dividend for 2012
The Directors are pleased to recommend the payment of a final dividend of
US12.3 cents per Ordinary Share. This represents a total dividend of US16.3
cents for 2012, in line with dividend payments for 2011 and is a sign of our
confidence in the business. Subject to shareholders approving this
recommendation at the AGM, the final dividend will be paid on 24 May 2013 to
shareholders on the register on 3 May 2013. The ex-dividend date is 1 May 2013.
ABG will declare the final dividend in US dollars. Unless a shareholder has
elected or elects to receive dividends in US dollars, dividends will be paid in
pounds sterling with the US dollar amount being converted into pounds sterling
at exchange rates prevailing on or around 8 May 2013. Currency elections must
be made by return of currency election forms. The deadline for the return of
currency election forms is 7 May 2013.
