News: CGA Mining FY profit surges 300%

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CGA Mining Limited’s(ASX:CGX) preliminary final report has shown that its full year net profit grew more than 300 per cent to $65 million. 

The gold miner’s preliminary result was underpinned by a 27 per cent increase in gold production and a 70 per cent increase in gross profit.

In the 2011 financial year revenue from gold and silver sales rose 51 per cent to $235 million.   



Looking ahead CGA says it has an aggressive exploration strategy with plans to undertake $US20 million of drilling over the next year.



The company says it will provide detailed final year end operating and financial results at the end of September.