Business
2007 Audited Results
2007 Audited Results.
About this update from Kazera Global Plc
[{"type":"text","content":"\n RNS Number : 1910V KazakhGold Group Ltd 23 May 2008 \n \nFor immediate release\n23 May 2008\n2007 Audited Results\n(Year to 31 December 2007)\n\n2007 Highlights \n\n\nGold production - 232,060 ounces (+ 6.4 per cent)\n\n\nRevenue US$ 177 million (+ 61.7 per cent)\n\n\nEBITDA US$ 69.4 million (+ 64.4 per cent)\n\n\nAverage gold price received US$700 per ounce, 25 per cent higher than 2006\n\n\nPreliminary JORC reclassification assessment confirms a world class asset base\n\n\nProduction expansion projects well under way at all three principal mines\n\n\nNew secondary milling circuit started at Aksu\n\n\nAcquisition of assets from Oxus Gold plc, balance of Romaltyn in Romania and Turkish gold-copper projects\n\n\nAn experienced international senior management team recruited.\n\n\n\n\n\n\n\n\n\n\n2007\n(year to 31 December)\n\n\n2006\n(year to 31 December)\n\n\n\n\n\n\n\nUS$ '000\n\n\nUS$ '000\n\n\n\n\nRevenue\n\n\n176,996\n\n\n109,433\n\n\n\n\nOperating profit\n\n\n56,837\n\n\n33,078\n\n\n\n\nPre-tax profit\n\n\n51,232\n\n\n31,278\n\n\n\n\nEBITDA\n\n\n69,395\n\n\n42,200\n\n\n\n\nEarnings per share (US$) - basic and fully diluted\n\n\n0.39\n\n\n0.40\n\n\n\n\nNet assets\n\n\n782,478\n\n\n654,761\n\n\n\n\nGold production\n\n\n232,060\n\n\n218,164\n\n\n\n\nKazakhaltyn direct cash production cost (US$ per contained oz)\n\n\n262\n\n\n228\n\n\n\n\nAverage achieved sales price (US$ per contained oz)\n\n\n700\n\n\n560\n\n\n\n\n\nCommenting on KazakhGold Group Limited's 2007 results, Executive Chairman, Dr Kanat Assaubayev said:\n'In 2007 the Group made further progress towards its vision of becoming Central Asia's leading gold mining company. This followed a year of intense corporate activity, investment in production expansion and the introduction of an experienced international management team, based at our operating headquarters in Stepnogorsk.'\nFurther Information:\nSanzhar Assaubayev\nGeneral Manager, London Office\nKazakhGold Group Limited\nTel: +44 (0) 20 3178 7105\[email protected] \n\nIssued by Citigate Dewe Rogerson (+44 207 638 9571)\nMartin Jackson / George Cazenove\n\n\nCHAIRMAN'S STATEMENT\nKazakhGold Group is the leading gold producer in Kazakhstan, with long-life mines and what are estimated to be the country's largest gold reserves. The Group has ...