Business
2008 Half Year Results
2008 Half Year Results.
About this update from Kazera Global Plc
[{"type":"text","content":"\n RNS Number : 4855E KazakhGold Group Ltd 26 September 2008 \n \n\n\nFor immediate release\n26 September 2008\n2008 Half Year Results\n(1 January to 30 June 2008)\n\n\n\nFirst half gold production of 66,863oz*\n\n\nAverage gold price received of US$ 872 per ounce, on sales of 76,211oz\n\n\nSignificant work undertaken to modernise and upgrade existing processing capacity to increase its future productivity\n\n\nAudited (FSU classified) gold reserves and resources of 59.6** million ounces confirmed, as at 1 January 2008\n\n\nFurther progress to re-classify the Group's resource base to the JORC standard\n\n\nInitial exploration results reveals significant potential for large open pit at the Southern Karaultube deposit\n\n\nAdditional mills installed at the Aksu, Bestobe and Zholymbet processing facilities\n\n\nPositive exploration results from Romaltyn and further pre-production preparation work undertaken\n\n\nEastern Kazakhstan assay laboratory receives ISO 17025 accreditation\n\n\nSuccessful institutional placement of 2.3 million new ordinary shares (via GDRs) at US$ 23.0/GDR\n\n\n\n* Includes 3,382oz of gold from the re-processing of flotation concentrate produced in 2007\n** Based on former Soviet Union (FSU) classification and audited by Wardell Armstrong International \n\nHalf Year Results Summary (1 January to 30 June 2008)\n\n\n\n\n\n\n\n\n\n\n\n\n2008\n(Six months \nto 30 June)\n\n\n2007\n(Six months to 30 June)\n\n\n\n\nRevenue (US$ '000)\n\n\n\n\n\n66,442\n\n\n41,273\n\n\n\n\nOperating profit (US$ '000)\n\n\n\n\n\n12,741\n\n\n7,941\n\n\n\n\nProfit before tax (US$ '000)\n\n\n\n\n\n12,252\n\n\n6,614\n\n\n\n\nCash (US$ '000)\n\n\n\n\n\n68,180\n\n\n140,669\n\n\n\n\nNet assets (US$ '000)\n\n\n\n\n\n831,067\n\n\n765,395\n\n\n\n\nEarnings per share (basic and diluted - US$)\n\n\n\n\n\n0.06\n\n\n0.08\n\n\n\n\nWeighted average number of shares in issue\n\n\n\n\n\n51,468,231\n\n\n48,103,472\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nTotal ore extracted (tonnes)\n\n\n\n\n\n1,435,715\n\n\n2,396,424\n\n\n\n\nHead grade (grammes/tonne)\n\n\n\n\n\n2.05\n\n\n1.54\n\n\n\n\nRecovery rate (%)\n\n\n\n\n\n72.9\n\n\n68.9\n\n\n\n\nGold production (oz)\n\n\n\n\n\n66,863*\n\n\n81,531\n\n\n\n\n\n* Includes 3,382oz of gold from the re-processing of flotation concentrate produced in 2007\n\nCommenting on Ka...