Gold and mineral explorer CGA Mining Ltd
(ASX:CGX) has rebounded from a loss of US$10.2 million in 2009 to post a profit of US$16 million for the year to 30 June 2010.
Listed on both on the Toronto and Australian Stock Exchanges, CGA says it was both a profitable and successful year.
The miner says its flagship Masbate Gold project was fully commissioned during the year and achieved consistent growth quarter on quarter.
The project poured its first gold in May 2009 and is said to be the largest gold project in the Philippines.
Earlier in September, CGA posted a rise in its cash and liquid assets to US$109.2 million in fiscal 2010, up from US$22.6 million the year before.
No dividends have been declared in respect to fiscal 2010.
CGA Mining booked a profit of $8.51 million in the last half of 2009.
