ALTONA REPORTS SOLID HALF YEAR
(firmenpresse) - ALTONA REPORTS SOLID HALF YEAR
RESULTS FOR HALF YEAR ENDED 31 DECEMBER 2014
· Profit after tax from Outokumpu operations for 3 months of $7.7 million until operations sold
· Disposal of Finnish assets gives rise to gain of $31.5 million
· $80.2 million returned to shareholders in February 2015 from proceeds of sale of operations
· Cloncurry project continues to grow with further discoveries.
· Reduction in Australian corporate overhead following the sale of Finnish assets
Altona Mining Limited (Altona or The Company - http://bit.ly/1DzQEiK ) is pleased to report a solid profit for the six months to 31 December 2014 reflecting three months of strong production from its former Finnish operations together with the sale of these assets effective from 1 October 2014. This has placed the Company in a strong position where it has no debt, a significant cash balance and a large development ready copper project located (Cloncurry) in Queensland Australia. The project continues to grow with extensions to the Turkey Creek discovery drilled in December 2014.
In February 2015, $80.2 million representing 15 cents per share was returned to shareholders, leaving Altona with a strong balance sheet and approximately $48 million dollars of cash.
Altona is now focused on securing a transaction for the Cloncurry Project. A partnership, merger or sale of the project will permit value realisation for Altona shareholders whilst avoiding excessive dilution, debt and hedging. The project is fully permitted and is envisaged to produce 39,000 tonnes per annum of copper.
The statutory half year report is attached.
Please direct enquiries to:
Alistair Cowden
Managing Director
Altona Mining Limited
Tel: +61 8 9485 2929 --
altona(at)altonamining.com
James Harris
Professional Public Relations
Perth
Tel: +61 8 9388 0944
james.harris(at)ppr.com.au
Jochen Staiger
Swiss Resource Capital AG
Tel: +41 71 354 8501
js(at)resource-capital.ch
ASX: AOH,
FWB: A2O
Altona Mining Limited
Ground Floor, 1 Altona Street,
West Perth WA 6005 |
ABN 35 090 468 018
About Altona
Altona Mining Limited is an ASX listed company which recently sold its successful Outokumpu mine in Finland and is now focussed on a major copper development project in Australia.
The Cloncurry Copper Project near Mt Isa in Queensland is one of Australias largest undeveloped copper projects. The first development envisaged is the 7 million tonnes per annum Little Eva open pit copper-gold mine and concentrator. Little Eva is fully permitted with proposed annual production1 of 38,800 tonnes of copper and 17,200 ounces of gold for a minimum of 11 years. A Definitive Feasibility Study was published in March 2014. Total resources contain some 1.5 million tonnes of copper and 0.41 million ounces of gold. Altona is engaged in discussions with potential partners to enable the funding of this major development.
Altona Mining is listed on the Australian Securities Exchange and the Frankfurt Stock Exchange.
Leseranfragen:
Altona Mining Limited ist ein Kupferproduzent in Finnland und besitzt ein Hauptkupferentwicklungsprojekt in Australien.
" alt="Skyharbour Closes Non-Brokered Private Placement of $1.25 MillionDatum: 27.02.2015 - 11:22 Uhr
Sprache: Deutsch
News-ID 374821
Anzahl Zeichen: 3488
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 164 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"ALTONA REPORTS SOLID HALF YEAR
"
steht unter der journalistisch-redaktionellen Verantwortung von
Altona Mining Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
