CGA Mining Ltd
(ASX:CGX) has boosted its cash and liquid assets to US$109.2 million in fiscal 2010, up from US$22.6 million the year before.
The gold and mineral explorer says it has had a highly successful year of operations, increasing cash while also achieving a material reduction in debt for the twelve months to 30 June.
Revenue rose to US$158 million in the period, and the company chipped US$45 million off its fiscal 2009 US$108 million debt.
CGA Mining is listed both on the Toronto Stock Exchange and Australian Securities Exchange.
Its Masbate gold project is the largest gold project in the Philippines and poured its first gold in May 2009.
CGA says it has a disciplined acquisition program focused on acquiring new gold projects.
For the last six months of 2009, CGA Mining posted a profit $8.51 million.
