Friday, March 24, 2006

AngloGold Ashanti Ltd. (AU)

Anglo American the mother company reducing it stakes from ~50% to ~40%, In addition AngloGold Ashanti Ltd. (AU) is issuing 10.3 million new shares. Please remember that this company is the second largest hedger in the world (after Barrick Gold Corp. = ABX). Not your best way to play the Great global gold bull market, to say the least...Best case scenario I can see: trading range between the 50 and 38.2 Fibonacci lines, Avoid it.

Click on the chart below to enlarge:
AngloGold Ashanti Ltd. (AU)



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