SINO GOLD HALF YEAR RESULTS FOR PERIOD ENDED 30 JUNE 2008
KEY POINTS
Record 93,874 ounces of gold and 7,323 gold equivalent ounces sold
Record revenue of A$100.2 million
Mine operating earnings of A$31.9 million
Profit before hedging and tax of A$20.6 million
Cash flow generated from operating activity of A$19.4 million
Net loss after tax of A$1.6 million (including hedging charges of A$16.4 million and income tax expense of A$5.9 million). The Companys entire gold hedge book was closed out during the period
The Jinfeng Gold Mine produced 66,388 ounces at an average cash operating cost of US$416/ounce
BioGold produced 23,342 ounces of gold at a net tolling profit margin of approximately US$50/ounce
The Groups controlled Ore Reserves and Mineral Resources increased to a total of 4.8 million ounces and 8.2 million ounces, respectively
Development of the White Mountain Gold Mine is on schedule for first gold to be poured in late 2008
Feasibility and permitting of the Beyinhar Project progressed on schedule to enable a project development decision in late 2008
Sino Golds ownership of the high-grade Eastern Dragon Lode 5 gold-silver deposit was increased to 80% and work has commenced towards enabling this quality project to be fast tracked into development
Strong gold price outlook and Sino Gold is now completely unhedged
The complete Half Yearly Report and presentation can be downloaded from www.sinogold.com.au
For further information, please contact:
Investor Enquiries: Jake Klein, CEO or Roger Howe, Investor Relations
+61 2 8259 7000 info@sinogold.com.au