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AngloGold's mine sale fails to impress all

NOT everyone is impressed with AngloGold's sale of the Elandsrand and Deelkraal mines in South Africa to Harmony Gold for 1 billion rand (A$237.62 million). At least one stockbroker has downgraded AngloGold's profit outlook because of the deal.

Tim Treadgold

JB Were and Son, one of Australia's top brokers, also disputes AngloGold's claim that the deal is earnings per share positive. "We view this as mildly earnings negative and below our R1.3 billion valuation,"...

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