Doray Minerals Limited (ASX:DRM)
announces 436 percent increase in net profit to $19 million for FY2015.
The gold producer reported a loss of $5.6 million for FY2014.
Doray attributes the results to profitable production numbers. The company reported a 15% increase in gold production to 88,736 ounces.
As a result of increased production, Doray Minerals also reported a 21% increase in Revenue to $134.1 million.
Doray expects production to double in FY2017 following the development of Mutiny’s Deflector Gold-Copper project.
No dividend was announced.