hmmmmm not a massive producer but seems good value
Sydney - Friday - August 28: (RWE Aust Business News) - Beaconsfield Gold (ASX:BCD)posted a consolidated net profit of $9.09 million for the year to June 30 2009 against a $32.98m loss previously. This substantial turnaround reflects the first year of full production at the Tasmania mine and follows three years of losses. Revenue increased to $85.3 million from $31.4 million, reflecting increased production of 70,178 ounces from 33,570 ounces and higher gold prices. Earnings before interest, tax, depreciation and amortisation (EBITDA) for the year were $15.2 million versus a loss of $28.6 million. "The turnaround in profitability represents a significant step forward for Beaconsfield Gold as it builds its operating capability," chief executive Bill Colvin said. "In the current year, we will work on steadily improving production levels and reducing costs. "The company is now a profitable mid-tier gold producer, with no gold hedging, no bank debt and good growth potential in both Tasmania and Victoria." The average gold price realised for the year of $1,182 per ounce was 29pc higher than for the 2008 financial year. ENDS rx
BCD Price at posting:
$1.35 Sentiment: Buy Disclosure: Not Held
