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24 February 2020
 
 
 
Hello Voornaam,
 

AngloGold Ashanti's shares rallied on Friday after it declared a chunky dividend for 2019 as its free cash flow almost doubled and debt fell below its target range. The gold producer's focus on longer-life mines with the potential for higher returns is clearly working - but it's come at the expense of its local operations as it exits mining in SA.

Three companies with high debt that didn't pay dividends last year are deleveraging by disposing of non-core assets. Aspen is close to reaching its medium-term target following the recent sale of its Japanese business. It expects to report results that are slightly better than expected when it publishes its interim numbers early next month. Aveng and Tongaat Hulett have a lot further to go.

More on those stories in your first newsletter of the week, along with the impact of weaker commodity prices on mining holding company Assore and NEPI Rockcastle's better-than-expected full-year distribution.

In The Week Ahead, Chris Gilmour provides some insight into latest market movements and what you should look out for in the days ahead, including results from Sasol, JSE Ltd. and Curro, amongst many others.

Finally, Jonty Sacks, partner at Jaltech Fund Managers, explains the "fund"amentals of Section 12J investing. Follow this link to find out more.

I hope you have a good week.

Stephen Gunnion

Managing Editor, InceConnect


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Todays Latest Headlines
 
 
 
 
AngloGold shines on higher gold price
AngloGold shines on higher gold price
The gold producer has increased its dividend by more than 50 percent as rising metals prices boosted its cash flow.
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Aspen continues to cut debt
Aspen continues to cut debt
The pharmaceuticals group says the recent sale of its Japanese business will bring debt close to its medium-term target.
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Tongaat sells Umhlanga land to Balwin
Tongaat sells Umhlanga land to Balwin
The sugar producer and KZN and owner is selling assets to reduce debt to levels negotiated as part of a financial arrangement with banks.
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NEPI Rockcastle beats guidance with its dividend
NEPI Rockcastle beats guidance with its dividend
The shopping centre owner has benefited from rising rentals as more shoppers visit its centres in Central and Eastern Europe.
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Assore hurt by weaker commodity prices
Assore hurt by weaker commodity prices
The mining holding company has cut its dividend by 30 percent after weaker commodity prices resulted in lower annual earnings
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The Week Ahead with Chris Gilmour 23 February 2020
The Week Ahead with Chris Gilmour 23 February 2020
Global economic growth facing recession.
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