Ramelius profit triples
GOLD miner Ramelius Resources Ltd has more than tripled its first half net profit after a four-fold rise in revenue from gold sales. Net profit for the six months to December 31 was $ 32.29 million, up from $ 10.07 million for the previous corresponding period. Sales of gold from its Wattle Dam mine, near Kambalda in WA, totalled $ 83.66 million compared to $ 20.61 million for the first half of 2009/ 10. The average gold sales price was $ A1387.48 per ounce, up from $ A1249.42 per ounce. Managing director Ian Gordon said margins at Wattle Dam were strong at about $ 900 per ounce.