Millennium Minerals Limited (“Millennium” or the “Company”) is pleased to report an unaudited after tax profit of $31.8 million for the twelve month period ended 31 December 2013 (FY2013).
The unaudited after tax profit includes an unrealised derivative gain of $16.2 million related to the valuation of the Company’s hedge book on 31 December 2013. The underlying profit before treasury, tax and finance for the twelve month period was $15.9 million.
At the mine operating level, the gross profit for FY2013 was $21.2 million based on sales of $100.3 million and cost of sales of $79.1 million. Total gold sales for the year were 63,446 ounces. The cost of sales includes depreciation, amortisation, stockpile and waste stripping adjustments of $7.5 million. Mine level EBITDA was $28.7 million.
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