fy06 loss 3.18m vs 8.68m loss fy05

- Tuesday - August 22: (RWE Aust Business News) - Resource
Pacific Holdings Ltd (ASX:RSP) reported a net loss of $3.18 million for
the year to June 30 2006 compared with a loss of $8.68m in the prior
year.
Revenue was up 49 per cent to $55.52m from $37.24m.
No dividend was declared.
Total production for the year was 787,000 tonnes compared with
674,000 tonnes in FY05.
The company said it was encouraged by the positive conditions in
the coal market with negotiations underway to sign long-term contracts
for semi-soft coking coal with East and South Asian steel mills and for
thermal coal with East Asian power utilities.
Completion of the longwall at the Ravensworth mine, NSW, remains
the the main focus and the expanded mine is scheduled to being production
in January 2007, with production rising to 4m tonnes per annum in FY08.
The shares were down 2c to $1.105.