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Gold Fields expects up to 12% drop in 2017 headline EPS

Published 02/08/2018, 11:37 AM
© Reuters.  Gold Fields expects up to 12% drop in 2017 headline EPS
GFI
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  • Gold Fields (GFI -2.7%) is sharply lower after saying it expects a decline of as much as 12% in headline earnings for FY 2017 to $0.23-$0.26/share.
  • GFI also expects to report a basic per share loss of $0.02.-$0.05, which would come in 110%-125% lower than 2016's basic EPS of $0.20; the company cites non-recurring items including a $278M goodwill impairment related to its struggling South Deep mine in South Africa.
  • GFI says it will extend the life of the Cerro Corona mine in Peru to 2030 from 2023 through the creation of additional, cost-effective tailings capacity, which will cause the reversal of a previous $53M impairment.
  • GFI expects attributable gold equiv. production of 546K oz. with all-in sustaining costs of $959/oz. for Q4 and gold equiv. output of 2.16M oz. with AISC of $955/oz. for FY 2017.
  • Now read: Gold Fields: Firing On All Cylinders


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