BHP Gold $6.7M profit
NZPA-AAP Melbourne Broken Hill Pty Co (BHP) listed associate, BHP Gold Mines, has announced a nine-month maiden profit of sAust6.7 million on mining income of $21.68M. In a statement, BHP Gold said its maiden ninemonth consolidated net profit was $6.7M after
deductiing $9.67M for exploration expense.
It also said the company was well positioned to achieve projected first year production of 172,000 ounces with 80,721 ounces mined in its first six months of operation. BHP Gold was incorporated on March 3, with BHP as its major share-
holder with 56 per cent of issued share capital.
BHP Gold said the commissioning of the Boddington Gold Mine in Western Australia on July 28 and the completion of the supergene ore treatment circuit at the Telfer mine in October were two major factors contributing to the nine-month result.
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Press, 26 December 1987, Page 9
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140BHP Gold $6.7M profit Press, 26 December 1987, Page 9
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