Ramelius expects $15m half year profit
Ramelius Resources has advised its shareholders and investors of an expected substantial increase in the half-year profit for the six months to 31 December 2009, compared to the previous corresponding period.Ramelius advises that net profit before income tax for the half-year to December 2009 is expected to be around $15 million compared to a net loss before income tax of $1.03 million for the December 2008 half-year.
The estimated half-year profit figure is 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 $20.6 million 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.
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