Resolute Mining Limited
(ASX:RSG) has rebounded from a loss of $37 million to a full year profit of $61 million in the 2011 financial year.
The gold miner’s result was boosted by a 30 per cent rise in revenue from gold sales.
Though gold production eased slightly over the last year, Resolute expects a 24 per cent increase in the year ahead.
In the short term Resolute plans to aggressive pay down secured debt in order to strengthen its balance sheet.
The company is also considering further capital management initiatives.
No final dividend has been declared.
