Gold miner Troy Resources says it is confident on building on its record output from its South American operations, which pushed it to a company-best profit for the year ended June 30.
The ASX and Toronto Stock Exchange-listed gold producer said output from its Andorinhas mine in Brazil and the Casposo operation in Argentina came in at 137,457 ounces for financial year 2012, up 79 per cent on the previous year.
Revenue was also a record, up 104 per cent to 208.6 million, driving a net profit of $31.4 million, up 115 per cent on FY2011.
The company will pay its 13th fully franked final dividend, at 10 cents per share.
Chief executive Paul Benson said it was very pleasing to set new production, revenue and profit benchmarks.
“This year we had a record exploration spend of $16.5 million which is the best way to put us into a position to continue breaking records going forward,” Mr Benson said in a statement.
“That investment has already paid results with an increase in FY2012 of 147,000 gold equivalent ounces to our probable reserve at Casposo, before taking into account mining depletion.
“We are confident we will continue to grow the resources and reserve inventory at Casposo over the coming years.”
Troy Resources stocks were down 3 cents on the ASX today, finishing trade at $4.42.