Mincor pays dividend despite loss

Mincor Resources reported a full-year net loss of $23.4 million for the 2010–11 financial year, down from a $28.1 million net profit in the prior year, according to the article.

The article says the loss was driven by $9.9 million in written-off exploration costs and $25 million in non-cash impairment charges, with operational setbacks at its Kambalda operations feeding through to the bottom line.

Yes. The Perth-based miner maintained its unbroken record of dividend payments and declared a 2 per share fully franked final dividend (as reported), bringing the full-year payout to 4 per share (as reported).

Mincor said the declaration of the 2 per share fully franked final dividend reflected its confidence that the operational difficulties experienced during the previous financial year were behind the company.

Yes. The article links the operational setbacks to Mincor's Kambalda operations, noting those issues flowed through to the bottom line.

No. The article notes this represents only the second loss in Mincor's 10‑year mining history, so losses have been rare for the company.

According to the article, the $9.9 million of exploration write-offs and the $25 million of non-cash impairment charges were the primary items that drove the reported net loss for the year.

The company is described in the article as a Perth-based miner, and the financial and dividend update appeared in the published article linked above.