Ramelius profit triples

Townsville Bulletin - - Investor -

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.

Ian Gor­don

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