Ramelius up on pre-tax profit guidance
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Thursday, 17 February, 2011 - 14:07
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Shares in gold miner Ramelius Resources have jumped after it flagged a three-fold half year pre-tax profit increase.
Perth-based Ramelius reported it expected its half year pre tax profit to spike to $47 million, up from $14.3 million for the previous half-year.
The jump in pre-tax profit came on the back of higher gold production at its Wattle Dam underground gold mine, which pushed revenue for the half year to $83.6 million.
Over the previous corresponding six months gold sales revenue was 20.6 million.
At 2:00PM (WST) Ramelius shares had gained 6 per cent, to trade at $1.21.
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