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Additional information
Additional Information
Market: ASX
Sector: Gold Mining
Epic: ASX:RMS
News: Latest news
Web Site: Ramelius Resources
Other Articles: 05-02-201006-01-201030-11-2009

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Ramelius Resources

Ramelius Resources

Ramelius is a Western Australian focussed gold producer and nickel explorer with mining operations at Wattle Dam near Kambalda and milling facilities at Burbanks near Coolgardie.
Friday, February 05, 2010

Ramelius Resources announces $15 million half year pre-tax profit

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West Australian gold producer Ramelius Resources (ASX: RMS) is expecting a substantial increase in the Company’s half year profit for the six months to 31 December 2009 compared to the previous corresponding period.

The company advises that Net Profit before Income Tax for the halfyear to December 2009 is expected to be approximately $15m compared to a Net Loss before Income Tax of $1.03m for the December 2008 half‐year.

Chief Executive Ian Gordon said the half year profit figure for 31 December 2009 was only approximate, based on internal management accounts and subject to completion of the half year financial report and audit review.

The expected pre‐tax profit result is based on gross gold sales revenue of $20.6m arising from significantly higher gold production during the December 2009 quarter from the Wattle Dam underground gold mine in Western Australia compared to the current Wattle Dam mine plan and which included the milling of 15,632 tonnes of high grade gold ore at an average grade of 41 grams per tonne.

The Company’s half year financial statements will be lodged with ASX as soon as possible following completion of the half year audit review.

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