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Gold Fields the pick of the bunch in the June quarter, Mandla Mapondera, Old Mutual In an interview on Radio 2000 @ 18:50 on Wednesday, 26 July 2006 [miningmx.com] -- GOLD Fields is likely to show the best results of the major South African gold producers because of its exposure to the gold price, while AngloGold Ashanti's hedge book might detract from its results, Old Mutual gold analyst Mandla Mapondera said on Wednesday. "We anticipate better production from Gold Fields and AngloGold," he told the Moneyweb Power Hour broadcast on Radio 2000. Production is going to be a key area of focus to see if South African gold producers have been able to step up production to take maximise the benefit of the higher rand gold price, he said. Harmony Gold had flagged it could have problems on its production front, he said. Costs for the local gold sector have not risen as fast as the gold price has in the three months to end-June, he said. "We like Gold Fields because they have better leverage to gold price and they're likely to show better results in this quarter than any of the others," he said, adding AngloGold Ashanti's hedge position this quarter was a worry.
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