Those that follow this blog may remember a few months ago I posted several times about Ramelius ASX:RMS…. the story below confirms my expectations….

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 Western Australia, totalled $83.66 million compared to $20.61 million for the first half of 2009/10.

The average gold sales price was $A1,387.48 per ounce, up from $A1,249.42 per ounce.

Ramelius ended December with $75.63 million cash on hand, compared with $21.46 million at the end of 2009.

Read the full AAP article