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AUSTRALIA'S RESOLUTE SET TO POST US$15.6 MLN FY NET PROFIT.
PERTH, Aug 1 Asia Pulse - Gold Miner Resolute Ltd (ASX:RSG) is expecting to record a full year operating net profit before tax of about $A31 million ($US15.61 million).
Resolute last year posted a net loss of $A185.92 million ($US93.65 million), which included an abnormal charge of $A221.64 million ($US111.64 million).
It followed the write-off of exploration expenditure and its investment in ailing laterite nickel miner Preston Resources.
In its June quarter report released today, Resolute said gross cashflow from operations for the three month period totalled $A13 million ($US6.55 million) bringing the total for the year to $A67 million ($US33.75 million).
Group cash and bullion at the end of the quarter was $A57 million ($US28.71 million).
Resolute said borrowings reduced during the quarter from $A34.6 million ($US17.43 million) to $A16.8 million ($US8.46 million) while debt reduction for the year totalled $A49 million ($US24.68 million).
The company's total gold production for the year stood at 344,237 ounces, slightly down from the 375,191 ounces produced in the previous year.
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Source: HighBeam Research, AUSTRALIA'S RESOLUTE SET TO POST US$15.6 MLN FY NET PROFIT.