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Gold Fields Ltd (GFI)

GFI on New York Consolidated

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25 Sep 2017
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Latest Key Developments (Source: Significant Developments)

Moody's says South African gold and platinum miners' restructuring supports their credit profiles
Tuesday, 12 Sep 2017 03:13am EDT 

Sept 12 (Reuters) - Anglogold Ashanti Ltd -:Moody's: South African gold and platinum miners' restructuring supports their credit profiles.Moody's says restructuring of South African operations will be positive for credit profiles of Anglogold Ashanti Ltd, Gold Fields and Sibanye Gold.Moody's-South African mining groups' restructuring initiatives will protect their credit quality by returning South African operations to a state in which they are free cash flow-generating.Moody's -profitability of South African gold, PGM mining operations under increasing pressure due to still low, but slightly improved, price environment.  Full Article

Gold Fields says HY normalised earnings of $77 mln
Thursday, 17 Aug 2017 01:07am EDT 

Aug 17 (Reuters) - GOLD FIELDS LTD ::NORMALISED EARNINGS OF $77M FOR HY 2017 COMPARED WITH NORMALISED EARNINGS OF US$103M FOR SIX MONTHS TO JUNE 2016.NORMALISED EARNINGS FROM CONTINUING OPERATIONS OF US$80M FOR HY 2017 COMPARED WITH NORMALISED EARNINGS OF US$98M FOR HY 2016.NORMALISED LOSS FROM DISCONTINUED OPERATIONS OF US$3M FOR HY 2017 COMPARED WITH NORMALISED EARNINGS OF US$6M FOR HY 2016.INTERIM DIVIDEND OF 40 SA CENTS PER SHARE (GROSS) IS PAYABLE ON 11 SEPTEMBER 2017.HY 1.047 MILLION OUNCES OF ATTRIBUTABLE GOLD PRODUCTION.HY US$980 PER OUNCE ALL-IN SUSTAINING COSTS.HY US$1,103 PER OUNCE ALL-IN COSTS.HY NET DEBT/EBITDA RATIO 1.12X.  Full Article

Gold Fields announces sale of Darlot mine to Red 5
Thursday, 3 Aug 2017 06:03am EDT 

Aug 3 (Reuters) - Gold Fields Ltd ::Sale of Darlot mine to Red 5.Gold Fields Ltd - ‍sale of Darlot mine in Western Australia, through wholly owned unit, to Red 5 Limited for a total consideration of a $18.5 million​.Gold Fields Ltd - ‍deferred consideration may be taken as additional shares in red 5 or as cash at Gold Fields' election​.Gold Fields Ltd - ‍Red 5 intends to undertake a rights issue in order to assist with funding of cash component and general working capital purposes​.  Full Article

Gold Fields H1 HEPS seen down between 38-50 pct
Thursday, 27 Jul 2017 02:40am EDT 

July 27 (Reuters) - Gold Fields Ltd ::HEPS FOR H1 2017 ARE EXPECTED TO BE 38-50% (US$0.06-0.08) LOWER THAN US$0.16 PER SHARE REPORTED FOR H1 2016, AT US$0.08-0.10 PER SHARE.ATTRIBUTABLE GOLD EQUIVALENT PRODUCTION FOR Q2 2017 IS EXPECTED TO BE 550KOZ (Q1 2017: 497KOZ).Q2 ALL-IN SUSTAINING COSTS (AISC) OF US$949/OZ (Q1 2017: US$1,016/OZ) AND ALL-IN COSTS (AIC) OF US$1,092/OZ (Q1 2017: US$1,114/OZ).FOR H1 2017, ATTRIBUTABLE GOLD EQUIVALENT PRODUCTION IS EXPECTED TO BE 1,047KOZ (H1 2016: 1,044KOZ).FOR H1 AISC OF US$980/OZ (H1 2016: US$992/OZ) AND AIC OF US$1,103/OZ (H1 2016: US$1,024/OZ)..  Full Article

Gold Fields hedges oil and Australian gold prices
Tuesday, 20 Jun 2017 03:33am EDT 

June 20 (Reuters) - Gold Fields Ltd ::Undertaken select hedging of oil price and australian dollar gold price given recent volatility in commodity prices and exchange rates.Volumes of oil hedged represent 50 pct of annualised fuel consumption for Australia and Ghana.Gold volumes hedged represent about 75 pct of expected production from Australia region for second half of 2017.Australian dollar gold price hedge to protect underlying cash flow of gold fields Australia, fund construction of Gruyere gold project.  Full Article

Gold Fields reports quarterly production fall of 3 pct
Wednesday, 26 Apr 2017 01:05am EDT 

April 26 (Reuters) - Gold Fields Ltd ::Operating update march 2017 quarter.Attributable equivalent gold production for quarter was 3 pct lower YOY (12 pct lower QOQ) at 497koz.All-In sustaining costs (AISC) were 6 pct higher YOY (12 pct higher QOQ) at us$1,016/oz.All-In costs (AIC) were 13 pct higher YOY (18 pct higher QOQ) at us$1,114/oz.Average us$ gold price achieved in quarter was 2 pct higher YOY (2 pct higher QOQ) at us$1,216/oz.Gold production at South Deep was 1,424kg (45.8koz), down 28 pct YOY (43 pct down QOQ) for quarter.Attributable equivalent gold production for 2017 is expected to be between 2.10 million ounces and 2.15 million ounces.AISC seen between us$1,010 per ounce and us$1,030 per ounce.  Full Article

Gold Fields sees FY HEPS between 730 pct and 780 pct higher
Friday, 3 Feb 2017 01:30am EST 

Gold Fields Limited : Trading statement for twelve months to 31 December 2016 . HEPS for FY 2016 are expected to be between 730 pct and 780 pct (us$0.29 to us$0.31) higher than headline loss per share of us$0.04 reported for FY 2015 . Increases primarily driven by an increase in us$ gold price (8 pct yoy) and lower net operating costs in local currencies . For FY 2016, attributable gold equivalent production is expected to be 2,146koz (FY 2015: 2,159koz), with all-in sustaining costs (AISC) of us$980/oz (FY 2015: us$1,007/oz) .Attributable gold equivalent production FOR Q4 2016 is expected to be 566koz (q3 2016: 537koz), with AISC of us$911/oz (Q3 2016: us$1,026/oz).  Full Article

Gold Fields exec VP for South Africa to leave for Implats job
Wednesday, 7 Dec 2016 01:00am EST 

Gold Fields Ltd : Resignation of Nico Muller . Announce resignation of Nico Muller, EVP: South Africa, effective March 3, 2017 . Nico will be leaving gold fields to take up position of chief executive officer of Impala Platinum .Search for a replacement has commenced.  Full Article

Gold Fields hikes FY production guidance
Thursday, 18 Aug 2016 12:57am EDT 

Gold Fields Ltd : Unaudited interim results . Says H1 1.04 billion ounces of attributable gold production up 1% yoy . Says in H1 generated net cash flow of us$60m for H1 2016, compared with us$1m in h1 2015 . Interim dividend of 50 SA cents per share (gross) is payable on 12 September 2016 . Following Brexit at end of June, gold price has increased almost us$100/oz and is approximately us$250/oz higher than our planning price for 2016 . H1 us$992 per ounce all-in-sustaining costs . H1 us$60 million cash inflow from operating activities. . Normalised earnings of us$103 million for six months to june 2016 compared with normalised earnings of us$8 million for six months to June 2015 . Says headline earnings for H1 2016 was us$124m or us$0.16/share . Says headline earnings compares with us$5m or us$0.01/share reported for h1 2015 . Production at South Deep increased by 87% to 4,356kg (140koz) from 2,332kg (75koz) in h1 2015 driven by increased volumes and grade . AIC in H1 2016 decreased 19% yoy to r622,453/kg (us$1,257/oz) . Says FY16 production guidance for group has been increased to 2.10 - 2.15koz, from 2.05 - 2.10koz . Says increased FY16 production guidance for South Deep mine to 9,000kg (289koz) from 8,000kg (257koz) . Says increased AIC guidance for year to r595,000/kg (us$1,310/oz) from r575,000/kg (us$1,265/oz) . Says higher AIC relates to increased capital expenditure of R211m (us$15m) to R1,210m (us$86m).  Full Article

Gold fields sees H1 HEPS $0.16
Tuesday, 19 Jul 2016 02:00am EDT 

Gold Fields Ltd : Sees heps for h1 2016 are expected to be 1,500% higher than us$0.01 per share reported for h1 2015, at us$0.16 per share. . Sees h1 normalised earnings 1,200% higher than us$0.01 per share reported for h1 2015 at us$0.13 per share .Increases in eps, heps and normalised earnings are primarily driven by an increase in us$ gold price (3% yoy).  Full Article

Hummingbird Resources to take wing with Malian gold

LONDON London-listed junior miner Hummingbird Resources is exploring for opportunities and investigating derivatives to manage gold price risk, as it brings online a Malian mine its much bigger previous owner Gold Fields rejected.