Focus Minerals Ltd (ASX:FML), a leading Australian gold producer and explorer, is pleased to report a strong result for the half year ended 31 December 2011.<\/p>\n
Highlights:<\/p>\n
– Total 1H gold production more than doubles to 80,921oz(1*) (69,858oz attributable to Focus), up from 36,339oz in the previous corresponding period<\/p>\n
– Consolidated Revenue for 1H 2012 of $104.5M, 113% up from $48.8m for 1H 2011<\/p>\n
– Net Operating cash flow up 67% to $21.3M<\/p>\n
– Consolidated 1H Net Profit After Tax of $5.9M excluding non-recurring costs Focus’ operations on target for gold production of circa 175,000oz(2*) for full financial year<\/p>\n
Significantly, gold production for the half year increased by 122% to 80,921oz (69,858oz attributable to Focus) and operating cash flow increased 132% to $29.5 million. This production increase was driven by the ramp-up of operations at Coolgardie and the addition of the Laverton Gold Project, driving a substantial increase in revenue, up 113% to $104.5 million.<\/p>\n
I hold FML and look forward to seeing continued success. See my earlier FML posts to see why<\/strong><\/a>.<\/p>\n