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FOCUS MINERALS LTD

ASX: FML

The data on Australian Shares.com is intended as a guide only and is compiled from information in the public domain. Data on this website should not be used to make an investment or trading decision.

Description

Focus Minerals Ltd (ASX: FML) is a profitable Australian based gold producer operating in Western Australia’s Eastern Goldfields. Focus is pursuing an aggressive expansion programme to become one of the largest Gold producers in the region and is currently on track to produce 100,000oz of gold in calendar 2011.

With a resource base of 2.1 million ounces, Focus will have three operating mines by the end of H1 2011, all within an 85km proximity of its own 1.3Mtpa processing plant in Coolgardie, 35km to the east of Kalgoorlie.

In addition it has two significant gold exploration projects including circa 200sq km in Coolgardie, and a further 200sq km at the world-class Treasure Island Gold Project at Lake Cowan on the Boulder-Lefroy system.

Since first production, Focus Minerals has established itself as a profitable gold producer (2009 Net Profit of A$3.15m). It recently posted a 28% rise in pre-tax profit for the half year 2011 to $6.2m (24/02/11) and delivered a pre-tax profit of $10.9m for the full year 2010. It remains debt free and hedge free.

Focus is currently in production from its Tindals Underground Mine Operation (part of the Tindals Mining Centre) in Coolgardie, which is just 5km trucking distance from its 1.3mtpa Three Mile Hill processing plant.

It significantly expanded its production profile in March 2011 commencing production from its new high-grade underground mine at The Mount, 85km to the south of Three Mile Hill.

Production output will be further expanded in April 2011, when Focus commences production from a series of new Open Pits at the Tindals Mining Centre.

Of note, Focus is the largest landholder in the Coolgardie gold belt with over 200sq km of tenements in an area and has been instrumental in the revival of the historic Coolgardie Gold Field, which has produced over 2.6 million ounces of gold since 1892.

With strong cash flow from existing operations, an extensive pipeline of projects for development (2.1Moz of JORC compliant resources and growing) and significant regional exploration potential, Focus is perfectly positioned to take advantage of a rising gold price and become a large-scale sustainable gold producer.

Mine For

gold, nickel, copper

Location of operation(s)

Western Australia

Address

Level 30, 40 St Georges Tce
PERTH, WA, AUSTRALIA

Phone

(61 8) 9215 7888

Email

Website


Last Updated

8/4/2011

 

The data on Australian Shares.com is intended as a guide only and is provided purely as an indication of what information can be found through official announcements. Data on this website should not be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy. The publisher (Intaanetto Pty Ltd) will not be held liable for any loss arising from the use of this website.