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Gold Fields flags YOY swing to profit in FY'16 on better prices, lower costs

Gold Fields Ltd. on Feb. 3 said its EPS for 2016 is expected to range between 18 U.S. cents and 21 cents, compared to a 2015 loss per share of 31 cents.

The improvement was primarily driven by a higher gold price in U.S. dollar terms and lower net operating costs in local currencies.

For the full-year, the Johannesburg-based company's attributable gold equivalent production is estimated to be about 2.1 million ounces, in line with revised guidance and year-ago figures, but at lower all-in sustaining costs of US$980 per ounce, compared to US$1,007 per ounce in its fiscal 2015.

For the final quarter of 2016, Gold Fields's share of gold equivalent production will be about 566,000 ounces at all-in sustaining costs of US$911 per ounce. Output was flat year on year but compared favorably to all-in sustaining costs of US$929 per ounce.