Forum Archive Index - February 2004

["Cristine Kerr" <criskerr@optusnet.com.au>]

Not urgent, thought this might be of interest: Extract from ASX Announcement 1.28pm today:

 

Croesus Pours One Millionth Ounce of Gold

 

Australia's third largest domestically owned gold producer, Croesus Mining NL (ASX: CRS), announced that this week the company poured its one millionth ounce of gold.

 

Croesus Mining founder and Chairman Ron Manners said the one millionth ounce was a significant milestone after 17 years as a listed Company.

 

"I am immensely proud of what we have achieved to date. Worthy of special mention are the efforts of our workforce, the support of our shareholders and the generosity of associates who have helped us achieve this milestone," Mr Manners said.

Mr Manners said that Croesus would continue to increase production through the development of mines at Davyhurst and Norseman.

 

"The Company's exploration results are paying off and the future looks bright for Croesus and its shareholders. We have made significant gold discoveries at Davyhurst and Norseman and will be developing these mines in 2004."

 

Croesus announced last week a record first half performance with a pre tax profit of $7.1 million on the back of half year gold production of 123,632 ounces at a cash cost of $361 per ounce.

 

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Dividend paid 24/9/03 last year: 1.5c franked at 30%

Trading at 50-52c

 

Regards,

Cris