Kingsrose Mining: Result 2012

With low costs and high prices, Kingsrose generates some of the highest margins in the industry.

Low costs continue to deliver stunning profitability for Kingsrose Mining. Full year production from the Way Linggo mine, on the island of Sumatra in Indonesia, totalled 38,000 ounces of gold and 433,000 ounces of silver at a staggering cash cost of just US$254. With the company selling gold at more than US$1,600 an ounce, it collected a margin of more than US$1,400, amongst the highest in the industry. That fat margin helped net profit after tax climb 44% to $17.6m, translating to earnings per share of 6.4 cents, 33% higher than last year. The company paid an unfranked 4 cent dividend earlier in the year and management reinforced that dividends would continue to be paid. Net cash climbed to $30m and the company holds no debt.

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