Kingsgate Consolidated Limited
(ASX:KCN) has reported a 76 per cent fall in its first half net profit of $8.1 million.
The gold producer says it wrote down $14.9 million against its exploration assets following the sale of properties in Western Australia and Queensland.
In January, Kingsgate reported a 5 per cent increase in its half year gold production.
The company’s gold output reached 90,413 ounces in the period, aided by a new plant at its Chatree mine in Thailand.
