Perilya enjoys top months

PERILYA Mines NL has capped off its best six month performance, notching up a record operating profit of $6.2 million at its Fortnum gold mine in WA for the first half of the 2000 financial year.

The mine produced 49,414 ounces of gold at a cash operating cost of $256/oz.

Perilya managing director Tim Clifton said the company would spend about $4 million on exploration in the current financial year concentrated on its gold and base metal targets in Australia and Malaysia.

“Perilya is in a strong financial position with cash and gold bullion reserves of about $24 million and no secured debt,” he said.

“There is clear potential within Perilya for substantial growth even before the company considered the acquisition opportunities being pursued.”

The Fortnum mine is located 170 kilometres north of Meekatharra and is 100 per cent owned by Perilya.