CGA Mining posts $US75.2m pre-tax profit
You have no credits left. To view this article subscribe to Business News.
You have used {{points}} and have {{current_points}} remaining. Your credits will reset on {{reset_date}}.
This article is part of a special report and is available to paid Business News subscribers only.
You can purchase access to this special report or subscribe to Business News.
You can purchase access to this special report or subscribe to Business News.
This article is premium content and is available to paid Business News subscribers only.
Subscribe to Business News.
Subscribe to Business News.
Thursday, 16 September, 2010 - 09:18
CGA Mining has recorded a significant increase in revenue for the 2010 financial year.
CGA has posted a $US75.2 million pre-tax profit up from a $US5.5 million loss for the 2009 financial year.
Yesterday CGA announced it has significantly ramped up production at its Masbate Gold Project in the Philippines.
The company said the maiden year of operations at the project was highly successful.
CGA's total revenue was $US158 million up from $US2.3 million for the previous corresponding period.
"The financial position of CGA at year end reflected a material improvement from 2009, with a significant increase in cash whilst in the same period achieving a material reduction in debt," CGA said in a statement to the Australian Securities Exchange.