Troy Resources NL: Record Half Year Profit of $10.5 Million.WEST PERTH, Western Australia West Perth is a suburb 600 metres west of Perth, the capital city of Western Australia. It is part of the inner mixed zone, and has predominately office blocks which have displaced residential buildings. -- Western Australian gold miner Troy Resources NL ("Troy") (ASX ASX See: Australian Stock Exchange :TRY)(FWB (Fixed Wireless Broadband) See fixed wireless. :TRW TRW The Real World (TV reality show) TRW The Right Way TRW Tactical Reconnaissance Wing TRW The Retriever Weekly (University of Maryland, Baltimore, MD) TRW Thompson Ramo Wooldridge Inc ) today announced a record net profit after tax and minorities of $10.5 million for the half year ended 31 December 2005 - an increase of 28% over the previous corresponding period (2004: $8.3 million). The profit was generated from revenue of $42.7 million (2004: $33 million) and production of 69,683 ounces of gold. The profit was substantially higher as the Company's Lord Nelson and Lord Henry mines at Sandstone in Western Australia Western Australia, state (1991 pop. 1,409,965), 975,920 sq mi (2,527,633 sq km), Australia, comprising the entire western part of the continent. It is bounded on the N, W, and S by the Indian Ocean. Perth is the capital. reached full production to add to the continuing strong contribution from the Sertao project in Brazil. Troy has emerged in the first half of the 2005/06 financial year as one of Australia's lowest cost gold producers. An average cost of A$173 per ounce (US$127) in the first half and the Company's minimal hedging position has enabled it to ride the wave of recent high gold prices. The profit for the half year was achieved after expensing $3.7 million for exploration (2004: $3 million). At 31 December 2004, Troy's equity share of cash and liquid assets Cash, or property immediately convertible to cash, such as Securities, notes, life insurance policies with cash surrender values, U.S. savings bonds, or an account receivable. was approximately $45.3 million. "There is no doubt that we are in the right place at the right time and the exceptional first half performance has set the Company up for a very successful financial year. We believe that few companies are better placed in the Australian gold industry," said Executive Chairman, Mr John Jones. He said that Troy's mining philosophy had always been about concentrating on profits by being a low cost gold producer. ABN 33 006 243 750 Troy Resources NL (ASX.:TRY) (FRANKFURT:TRW) |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion