Perth, Mar 4, 2010 (ABN Newswire) - West Australian gold miner Focus Minerals Limited (ASX:FML) is pleased to announce an interim net profit of A$4.88 million for the six months to December 31, 2009.
The strong result, which is underpinned by the sale of 21,202 ounces at an average price received of A$1085 per ounce, includes a 346% increase in Earnings Before Income Tax Depreciation and Amortisation (EBITDA) from the corresponding period.
Following the close out of the last remaining forward gold contracts in December last year, Focus is now hedge-free and fully exposed to the prevailing high gold spot price.
Focus Chief Executive, Campbell Baird, said the result was particularly pleasing given production for the half was achieved through a single 45 day toll treating campaign.
"With Three Mile Hill now fully operational and our aggressive exploration program in full swing, it is clear we are gaining a lot of momentum and there is a great deal to look forward to in the second half of 2010."
About Focus Minerals Ltd
Focus Minerals Limited (ASX:FML) is an aggressively expanding gold producer based in Western Australia's Eastern Goldfields. The company is the largest landholder in the Coolgardie Gold Belt, 35km west of the 'Super Pit' in Kalgoorlie and has an 81.57% shareholding interest in Crescent Gold. Focus is currently in production in Coolgardie from underground and open pit operations at its flagship Tindals Mining Centre, adjacent to its 1.2Mtpa Three Mile Hill processing plant, as well as from The Mount, its recently opened high-grade underground mine 85km south.
Contact
Campbell Baird, CEO Focus Minerals Ltd Tel: +61-8-9215-7888 www.focusminerals.com.au
ASX:FML) is pleased to announce an interim net profit of A$4.88 million for the six months to December 31, 2009.
Focus Minerals Ltd
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