Business
Interim Report
Interim Report.
About this update from Altyngold Plc
[{"type":"text","content":"\n \nRNS Number : 0213T GoldBridges Global Resources PLC 30 September 2014 \n \n\nGOLDBRIDGES GLOBAL RESOURCES PLC\nInterim report - six months to 30 June 2014\n\n \n\n \nGoldBridges Global Resources Plc (\"GoldBridges\" or the \"Company\"), the AIM quoted gold mining and development group, announces its unaudited results for the six months to 30 June 2014.\n \nHighlights:\n \nProduction\n- H1 2014 gold production from Sekisovskoye was 12,694 ounces (\"oz\") at an average grade of 1.42 grammes / tonne (\"g/t\"), compared to 12,673 oz in H1 2013 at an average grade of 1.45 g/t;\n- Significant reduction in total production cost to US$11.6m (H1 2013: US$15.9m) and administrative cost to US$3.3m (H1 2013: US$6.2m);\n- Significant decrease in unit cash costs to US$744 / oz (H1 2013: US$1,055 / oz);\n \nFinancial\n- Decline in revenue for the period to US$16.7m (H1 2013: US$20m), reflecting the recent decline in the global price of gold;\n- This lower gold price was offset to some extent by the government imposed devaluation of the Kazakh Tenge by approximately 20 per cent. in February 2014;\n- Operating profit of US$3.3m in H1 2014, a significant turnaround from a loss of US$2.1m in H1 2013;\n- Leading to an EPS of US$0.19/share, up from a loss of US$0.24/share in H1 2013;\n- Equity capital raisings in excess of US$22m during the period; \n- Cash balances of US$18.5m as at 30 June 2014 (H1 2013 US$1.3m);\n \nStrategic\n- The licence and permit applications in relation to the...